Offical Launch of iUSD Stablecoin | Tapping Into Existing Networks For New Users, Fresh Capital and Global Liquidity
IOST stablecoin — iUSD will be issued on the IOST blockchain starting this month! iUSD supports a stable token swap solution pegged to USDC and TUSD, with USDT support to be added in the near future.
Developed by Rate3, a Node Partner in the IOST ecosystem, iUSD stablecoin uses a frictionless token swap solution that allows IOST users access to the deep liquidity available globally on USDC, TUSD and other ERC-20 stablecoins. This token swap solution has the added advantage of interoperability and gives users a platform to seamlessly and reliably transfer value between the IOST network and other blockchain networks. This solves a long-running problem relating to non-ERC-20 stablecoins, which is the lack of liquidity.
Access Over USD450 Million In Global Liquidity With USDC and TUSD
USDCoin (USDC) is the second largest stablecoin globally with a market cap exceeding USD250 million. USDCoin is pegged 1:1 with the US Dollar and can be exchanged into fiat with Coinbase and other exchanges. USDC gives transparency into its USD holdings with funds being held in a special account that is constantly monitored and audited. USDC, which is developed by the CENTRE consortium, operates within the United States regulatory framework and are in partnerships with multiple banks and audit firms.
TrueUSD (TUSD) is the third largest stablecoin globally with a market cap worth approximately USD200 million. TUSD is a stablecoin launched by TrustToken, a tokenization platform backed by Stanford-StartX, Founders Fund Angel, FJ Labs, and BlockTower Capital. The company has developed a legal framework for collateralized cryptocurrencies and 1:1 USD redemption mechanism in collaboration with a network of fiduciary, compliance, and banking partners.
With support for USDT in the works, we expect this to substantially enhance the existing IOST ecosystem, and provide significant liquidity for users using decentralized exchanges built on IOST. The iUSD token swap solution also gives investors and Dapp users an additional, fuss-free gateway to easily buy, hold and use IOST tokens.
Attracting Users From Other Networks To IOST Through Stable and Seamless Value Transfers
There is huge untapped potential in the existing stablecoin markets, with little to no activation being done to attract ERC-20 stablecoin holders into rapidly growing blockchain networks like IOST.
A gateway providing deep liquidity and seamless value transfers not just benefit our existing users, but will also be a channel to attract users from other blockchain networks into the IOST ecosystem to buy, sell, trade and even utilize Dapps via a frictionless and stable token swap solution.
At the same time, the iUSD stablecoin give fiat money users outside of the crypto industry a new market option to directly join and use IOST blockchain network. With crypto penetration still in its early days, iUSD lowers the barriers for IOST in attracting new, fresh participants into our network.
A Large Scale Ecosystem Development Strategy Under Execution at IOST
It has been just over one month following the launch of Olympus v1.0, IOST’s mainnet. In this short period of time, IOST has swiftly rose to become one of the global Big 4 public chains, with only Ethereum, EOS and Tron having executed more transactions than IOST to date. The IOST ecosystem continues to grow at an exponential rate, and at time of writing, more and more users are joining the IOST network with a rate of over 15,000 wallets being created per day.
This is no accident — the IOST Foundation had been strategically planning and executing on a large scale ecosystem development strategy that is designed for IOST to eventually emerge as the winner in the crypto race. We expect the rapid network growth to continue as we both broaden and deepen the IOST ecosystem.
The iUSD stablecoin will give secure, reliable fundamental value to all IOST usage and digital assets within the ecosystem. It will play a key role in stabilizing the ecosystem value, while being a growth catalyst for new users and capital to flow into IOST from other networks.
We hope our community will continue to support IOST, share about IOST to your personal networks, on social media, and help to drive greater awareness in the mass public on this rapidly growing network. For developers, we hope you and like-minded enthusiasts will join IOST and bring exciting Dapps and great applications for our global community. Together, we will make IOST the largest, scalable and decentralized blockchain network in the world!