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Vote for TUSD as the next Compound asset!

The asset gathering the most votes, decided in ~2 weeks, will earn interest and can be used as collateral on Compound

TrueFi
Published in
3 min readSep 6, 2019

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Our friends at Compound Finance are running a community vote to list their next on-platform asset, and we’d love your help to win the vote!

The asset ultimately added to Compound will gain an on-platform liquid interest rate that token-holders can earn, and the ability to use the asset as collateral to borrow other supported tokens, such as Ether.

Vote here: https://app.compound.finance/vote

To vote with your CoinBase wallet, things are quick!

  1. Visit the vote link above, and sign in with your Coinbase wallet (you may need to scan a QR code with your phone)

To vote with your MetaMask wallet, you’ll need a few things

  1. Install MetaMask, the in-browser ETH wallet, if you haven’t already.
  2. Make sure your MetaMask wallet is funded — or buy right in MetaMask.
  3. Connect Compound Protocol to your MetaMask wallet

10 reasons why we believe TUSD deserves the community vote

  1. Always Redeemable for USD: Users can always redeem 1 TUSD for $1 USD, which keeps the price of TUSD stable.
  2. Fully Collateralized: TUSD is always fully collateralized by USD cash and cash equivalents, held in a professional trust company’s escrow account. Not every other stablecoin offers the same guarantee.
  3. Transparent: Collateral can be verified in real-time at trustexplorer.armaninollp.com/TrueUSD and attestation reports are published monthly.
  4. Global Access & Liquidity: Users from 150+ countries have access to TUSD. TUSD is currently the 36th largest cryptocurrency in the world by market cap and is traded on 70+ exchanges, including Binance, Bittrex, and Bitfinex.
  5. No Fees: TrustToken does not charge any fees for purchases or redemptions.
  6. Fast: Most TUSD mints process within 1 minute of funds being received, and most redemptions wires are sent out within the same day they are received.
  7. Industry-leading tech: TUSD uses >15% less gas than every other stablecoin. Our developers have introduced features like AutoSweep wallet management and GasBoost to the industry.
  8. Customer Service: We abide by the ethics we’ve established and act with empathy. Our team is here to help if you ever have questions about TUSD, our app, or crypto in general.
  9. Wallet Aliases: Our Autosweep technology allows you to create nearly endless public receiving aliases for different clients, OTC deals, and more — all directing to the same end wallet. Read all about it.
  10. 1-Click Direct-to-Bank Redemption: Unique among stablecoins, TrueUSD holders can redeem $1,000 or more directly to their bank account with a single click by sending their funds to an easy-to-remember 5-character redemption address. Read more here.

Spread the word on Twitter! 🐦

Excited TrueUSD is up for community vote to be added to @Compoundfinance! Vote $TUSD at https://app.compound.finance/vote

Or give people a good reason with this Tweet:

10 reasons why I think TUSD will add value to @Compoundfinance: https://blog.trusttoken.com/tusd-compound-3e8388785c38

Voting for the next Compound asset is going on now!

And last, some notes from the Compound announcement:

Regarding Voting Mechanics

All Compound protocol users will be eligible to participate in the community vote, weighted by usage of the protocol (measured by lifetime interest earned + interest paid). This is an experimental “Sybil-resistant” voting mechanism, which is designed to allocate governance proportional to impact.

Voting will last for 14 days, after which the 2 winning tokens will be added to the protocol following the creation of cToken integration contracts, successful security audits, and a determination of suitability.

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TrueFi
TrueFi

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