Last November, TrueUSD (TUSD) and Balancer (BAL) Automated Market Maker (AMM) teamed up with Polygon to give liquidity providers with TUSD and BAL prizes via a stablecoin pool incentive program. Liquidity providers are incentivized to add TUSD-DAI-USDC-USDT liquidity to the Polygon ecosystem through the scheme.
Providers will get BAL, TUSD, and MATIC in exchange for adding liquidity, giving an excellent opportunity for liquidity providers to gain exposure to three distinct assets while providing liquidity to the ecosystem. The program is now live on-chain and available to everyone.
TrueUSD and Balancer (Polygon) are popular among investors looking for a safe DeFi investment, and they have sparked a lot of attention in the crypto forums. The TVL of this pool reached $116.9 million, eliciting excitement from all corners of the crypto industry. All MATIC awards were distributed in early 2022, with liquidity bonuses in TUSD and BAL remaining unchanged.
In the last year, the market for stablecoins has grown tremendously, with a value of about $200 billion. TUSD, the first regulated stablecoin entirely backed by the US Dollar and independently validated on-chain, has gained customer trust for its security and transparency. It now has a market valuation of almost $1.5 billion, placing it fourth among stablecoin peers after USDT, USDC, and BUSD.
TrueUSD has formed alliances and collaborations with well-known financial institutions, exchanges, and decentralized finance initiatives in order to provide users with simple and flexible high-yield campaigns as well as additional incentives.
Furthermore, it seeks to construct a multi-dimensional, safe, and efficient link between digital assets through the use of multi-chain deployment, bank collaboration, and third-party fund verification.
TUSD has been successfully deployed in ten major blockchain ecosystems (Source: TrueUSD website)
Balancer now has a TVL of about $3.13 billion, and its partnership with TrueUSD in launching the incentive program adds to the protocol’s liquidity.
Balancer has also created a Boosted Pool incentive program on its Ethereum version in collaboration with the lending protocol Aave. Building on TrueUSD and Balancer’s liquidity incentive program, there is a strong possibility that the two will seek new types of collaboration in the future.
On Balancer, the TUSD liquidity reward offer is still active. TUSD-related liquidity pools’ TVL has surpassed $64 million, placing them first on Balancer. The APR and trade volume were 5.65% and $10.25 million, respectively. Another potential is the TUSD-USDC liquidity pool on Beethoven X, Balancer’s next-generation AMM protocol on Fantom, which offers a TVL of $7.30 million and a 15.63 percent APR.
On Balancer’s Polygon version, the TVL of the pool above is ranked first (Source: polygon.balancer.fi, 2022.3.30)
According to the data presented above, the incentive schemes are well welcomed. Stablecoins play an important role in DeFi as a medium of exchange for digital assets. TrueUSD’s strong partnership with high-quality projects has proven to be a wise strategy.
TrueUSD and Balancer anticipate that by rewarding liquidity providers TUSD and BAL through their stablecoin pool incentive program, their extraordinary performance will continue to provide stable liquidity to the Polygon ecosystem.
TrueUSD (TUSD) is the first digital asset that has been independently validated as being tied one-to-one to US dollars. The ERC20 stablecoin uses several banks, escrow accounts, and third-party attestations to decrease counterparty risk, provide transparency, and prevent fraud.
TUSD provides liquidity on dozens of prominent exchanges, DeFi protocols, and large OTC marketplaces. TUSD can also be minted and redeemed almost instantly via the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust.