China,Beijing, Jan. 13, 2021, IOST is thrilled to announce our plan to support HUSD- a U.S. dollar-pegged stablecoin by Stable Universal Limited. Notably, IOST is the first batch of public blockchains to support HUSD & the second blockchain outside Ethereum to complete the technnical deployment of HUSD.
This significant milestone powers IOST towards building influence through our robust and thriving DeFi portfolio.
To celebrate the launch of HUSD, IOST & HUSD team will distribute 35,000 HUSD to our IOST holders with details to be released soon. Turn on your notification and watch out for our next announcement!
Issued by the technology firm Stable Universal, HUSD is a safe and secure stablecoin pegged 1:1 to the U.S. dollar. Combining the stability of the U.S. dollar with the efficiency of blockchain technology, HUSD offers IOST users access to a safe, secure, and convenient asset for remittance, commerce, payments, trading, DeFi and more.
The integration of HUSD on the IOST blockchain is at its last stage of completion and once deployed, users can register accounts in Stable Universal, deposit US dollars, and obtain HUSD on IOST chain at a ratio of 1:1 through cross-chain tools. Users will soon be able to withdraw and deposit IRC-21 based HUSD on centralized exchanges.
Terry Wang, CTO & Co-founder of IOST highlights:
“Stablecoin is a key to unlock a plethora of opportunities in DeFi- IOST’s area of focus & growth in 2020 & this 2021. IOST’s innovative & developer-friendly technology which enables high scalability, fast transaction speed and zero transaction fees make it a perfect choice for both DeFi developers and users. We are thrilled to explore the unlimited opportunities that arisen from this collaboration with stable universal and more partners to continue making IOST a home for DeFi.”
Frank Zhang, CEO of Stable Universal, said:
“It is a great start to the new year to announce that HUSD will be soon be supported in the IOST ecosystem, as greater cross-chain interoperability means better accessibility for users across a wide array of platforms and protocol, designed to meet their trading needs. We look forward to seeing more developers and communities as they continue to explore the use cases for stablecoin and blockchain technology at large.”
HUSD stablecoin will play significant roles in IOST’s DeFi use cases as a payment token, a store of value, and a bridge between fiat currencies and cryptocurrencies. HUSD can help minimize the price volatility often associated with cryptocurrency trading, allow individual users and institutional investors to easily build and transact on IOST blockchain, as well as take part in new liquidity pools for future decentralized exchanges on IOST
For DeFi dApps to satisfactorily compete with traditional applications, the underlying network must be fast, meshing perfectly with the objective of the dApp launchers. In the mid of the competition, IOST — an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability consensus algorithm is building a vibrant ecosystem by offering developer-friendly features and environments.
As early as the beginning of 2019, IOST has started to lay out a holistic DeFi ecosystem and continued to make inroads in the budding DeFi space with multiple strategic partnerships and emerging on-chain projects from stable coins, decentralized exchanges, cross-chain transactions, lending, financial derivatives, forecasts, and more.
Not to miss:
“All in DeFi” is the slogan and development focus of IOST in the second half of 2020, and 2021!
The IOST platform emerged as a response to the scalability problem which it aims to tackle once and for all. To that effect, it implements an array of technologies, including the Proof-of-Believability algorithm, and high performance virtual machine technology, all of which are supposed to offer higher TPS rates of up to 8000 transactions per second.
IOST offers developer-friendly features that improve product development efficiency. No congestion and no high gas fees as seen in Ethereum, the reason many developers choose to launch DeFi projects on IOST. A zero transaction fee also guarantees users the convenience and accessibility of using DeFi applications on the IOST chain
In the future, in IOST we will work with more than 400 partner nodes and partners around the world to deliver innovation to DeFi, create explosive DeFi products, lead the mainstream application of DeFi, and open up a new phase for a decentralized global economy.
If you want DeFi, join IOST.
HUSD is issued by Stable Universal and pegged 1:1 to the U.S. Dollar. Each HUSD issued is backed by a corresponding U.S. dollar held in a U.S. trust company. An independent U.S audit firm conducts monthly attestations of the HUSD Token, and the attestation report is available for public viewing on stcoins.com. Stable Universal is dedicated to making HUSD stable, secure, and safe for our customers.
Visit HUSD website here https://www.stcoins.com/
Supported by Sequoia, Matrix, ZhenFund, and other major investors, IOST is an enterprise-level blockchain platform developed for online service providers.
The IOST project team is currently mainly composed of R&D personnel focusing on blockchain distributed technology. The team is formed by experienced blockchain industry experts who have graduated from world top universities such as Princeton, Stanford, MIT, Tsinghua University, and Beijing University.
With a two-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and enterprise partnerships around the world. IOST is one of the Big Four public chains with a rich user base and real applicability alongside Ethereum, EOS, and TRON. 500,000 community members, over 20 countries worldwide, over 400 nodes, top staking economy, and growing.
IOST’s Node Program is widely praised as the globally leading staking program by numerous blockchain research institutions with attractive returns, low risk, and ease of use are some of the key program highlights. To learn more and participate in one of the world’s top staking program, please visit:
If you would like to hang out with the IOST community on chat, social media, or to discuss product development, we have something for everyone:
IOST Blockchain Will Support Stablecoin HUSD to Boom DeFi Ecosystem was originally published in IOST on Medium, where people are continuing the conversation by highlighting and responding to this story.
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