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Re: [STE] [A2A] STeX Exchange, A New Standard for Cryptocurrency Trading ?
When will the Exchange be out of beta? It's a long time since ICO and it's good to see the team is still working but it should be ready soon.
i hope it's clear to most by now that STeX.Exchange changed its name to https://50x.com and that the STE dividend tokens were converted to 50X and 50X100. their A2A utility tokens are same as before.
in summary for new readers:
stable trading terminal: https://trade.50x.com beta trading terminal: https://beta.50x.com
landing page with plenty information on key features: https://50x.com
a good introduction to the 50x.com exchange : https://www.newsbtc.com/press-releases/a-trading-revolution-by-50x-com-incredible-technology-is-changing-the-way-we-think-about-trading/
good introduction video to the 50x.com exchange:
https://www.youtube.com/watch?v=65FAz3vk1to
referral program: https://go.50x.com/50x50
Re: [50X100] [A2A] 50x.com: World's First 'Any to Any' Crypto Trading Platform
the new https://50x.com landing page looks good! can we expect Professional Master Account or PMA that they had planned for the exchange this month to be ready in time? https://pma.50x.com. and will 50x.com PMA be similiar to Genesis Vision? will it be implemented within the exchange itself or will they use https://pma.50x.com as a dedicated website for it? i see that there's a PMA tab on https://beta.50x.com but not on https://trade.50x.com.
and when will the 50x exchange page on CMC be updated? https://coinmarketcap.com/exchanges/50x/ still doesnt have any data and it's been like that for some time now even though the 50x page was added to CMC months ago.
and when will the 50x exchange page on CMC be updated? https://coinmarketcap.com/exchanges/50x/ still doesnt have any data and it's been like that for some time now even though the 50x page was added to CMC months ago.
Re: [50X] [A2A] 50x.com: World's First 'Any to Any' Cryptocurrency Trading Platform
very nice. im glad to see Zcash ZEC was added to the exchange a few days ago.. more coins is always good. keep it up team. has advertising begun yet or whats the status there? is there a page available where you can get promotional material like banners to send around social media, place on websites and all that? if not, then i'd like to see banners once available be placed on the https://go.50x.com/50x50 bounty program page, unless they've been placed somewhere else already.
also the new interface UI looks good but will the old one also return eventually so we can choose? i really liked the old one because it had more options for personal theming. the current UI has some theme color options as well but not as many options as the old one.
also the new interface UI looks good but will the old one also return eventually so we can choose? i really liked the old one because it had more options for personal theming. the current UI has some theme color options as well but not as many options as the old one.
Re: [STE] [A2A] 50x.com: World's First 'Any to Any' Cryptocurrency Trading Platform
some questions
- is there a 2019 roadmap
- is there a 2019 roadmap
posted at https://50x.guide/50x-com-roadmap-2018-2019#info
50x.com Roadmap 2018 - 2019
Read original Telegram post: https://t.me/news_50x/48
🇬🇧 [#EN] 50x.com Roadmap:
October, 2018
✅ The final stable release of the trading core and the terminal.
From this point we are working hard on extended services to be integrated
November, 2018
✅ 50x.cloud system is introduced
November, 2018
✅ PMA systems are being developed, announced and tested by selected traders
December, 2018
✅ Partnership with Paycent
December, 2018
✅ Stream-server is online to provide fast datafeed to the new terminals
December, 2018
✅ The new fast and flexible terminal engine is being developed
January, 2019
✅ Partnerships intended to use 50x.cloud system
January, 2019
🔜 Terminal and core updates
January 31, 2019
🔜 Mobile-compatible trading terminal based on a new faster engine will be released
February, 2019
Updated landing page
February, 2019
Promo campaign starts
February, 2019
Mobile-compatible trading terminal updates
February, 2019
PMA can be opened and managed online via terminal by the manager
March, 2019
PMA early access tests
March, 2019
Conditional orders, stoplosses and takeprofits
April, 2019
PMA can receive tokens from other users, providing ranking and analytics
April, 2019
PMA promo campaign starts
May, 2019
3 terminals to choose from:
- Hodler's
- Cryptoflex
- ProTrader
May, 2019
Client-side Smart orders integration (No comments until release)
June, 2019
The first partner's exchange using 50x.cloud system should be launched
Re: [STE] [A2A] 50x.com: World's First 'Any to Any' Cryptocurrency Trading Platform
there are frequent updates on https://50x.guide
stable version released and new coins getting added to the exchange in the same pace as before. imo the rebranding has been handled nicely and everything seems to now be back on track. very nice to see.
Re: [STE] [A2A] 50x.com, A New Standard for Cryptocurrency Trading ?
great news. this is an easy to remember domain. 5 is a lucky number most places in Asia and that's important. asians usually take these things very seriously. for those who are into such things in the west, numerology talks about the number 5 as a number most energetic, dynamic, adventurous, risk-taking and in constant motion. it's also a domain thats easy and fast to write in on a standard qwerty layout. good job!
STeX Exchange Beta 4.65 released. 
https://beta.stex.exchange
From the STeX NEWS channel on Telegram:
https://t.me/stex_news
Beta 3.7 still available at https://trade.stex.exchange
https://beta.stex.exchange
From the STeX NEWS channel on Telegram:
https://t.me/stex_news
Beta 3.7 still available at https://trade.stex.exchange
very good. then final release then coming soon i hope.
just came to my attention that some other random project calling themselves stocks.exchange has purchased the domain stex.com and are now using it for a crypto exchange.
this is just to clarify that stex.com (previously stocks.exchange) is not the same as STeX Exchange.
the STeX Exchange domain is https://stex.exchange
this is just to clarify that stex.com (previously stocks.exchange) is not the same as STeX Exchange.
the STeX Exchange domain is https://stex.exchange
stex.com purchased by some project named stocks.exchange. will it confuse users?
it just came to my attention that some other random project calling themselves stocks.exchange has just purchased stex.com and using it for a crypto exchange.
this is just to clarify that stex.com (previously stocks.exchange) is not the same as STeX Exchange.
the STeX Exchange project domain is https://stex.exchange
this is just to clarify that stex.com (previously stocks.exchange) is not the same as STeX Exchange.
the STeX Exchange project domain is https://stex.exchange
What is TrueUSD (TUSD)? Overview & FAQ
https://blog.trusttoken.com/trueusd-faq-18dbc563fb67
General
Who is the team?
The team comes out of Stanford, UC Berkeley, Palantir, and Google; its backers include Founders Fund Angel, Stanford-StartX, and Blocktower Capital. The TrueUSD team has developed a legal framework for collateralized cryptocurrencies in collaboration with WilmerHale and White & Case, and has a network of fiduciary, compliance, and banking partners.
What is TrueUSD?
TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counterparty risk, and to provide token-holders with legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform.
What is TrustToken?
TrustToken is a platform to create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens.
Who can use TrueUSD?
Weve designed the alpha version to address the immediate needs of crypto exchanges, crypto traders, and financial companies.
* Crypto Traders and Exchanges: Cryptocurrency traders want a trustworthy stablecoin to hedge against volatility, and enter crypto markets without immediate exposure to BTC/ETH.
* Mainstream Commerce: Everyday people and businesses can enjoy the benefits of digital currencies (faster transaction speed than ACH, global reach) without the volatility of Bitcoin. Now you can pay a salary, take out a loan, or buy coffee with a cryptocurrency, enabling a new economy of cryptocurrency financial applications.
* Developing economies: Some developing markets are increasingly reliant on cryptocurrencies for trade.
* Financial institutions: Financial companies that want to get into crypto, but have reasonable reservations against putting e.g. $100M into a new algorithmic stablecoin vs. $100M of legally-enforceable certificates of ownership of the US dollar.
In the alpha version of TrueUSD, redemptions will be restricted to a $10,000 minimum. Anyone can use TrueUSD once they are listed on exchanges.
In the 1.0 release of TrueUSD, we will be lowering our redemption minimum to allow for lower volume redemptions.
Why this sequence? Were opening access gradually so that stability can be maintained from the beginning.
Product
How do I know my funds are secure when I wire them to the bank account?
We partner with licensed trust companies and banks to securely hold the funds backing TrueUSD tokens. For increased security, the trust companies handle all funds directly and the TrueUSD team does not have access, nor is involved in the transfer of, the escrowed funds.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder. The legal privileges of token holders are described in the TrueUSD Terms of Use.
Do I have to go through the KYC/AML process?
Yes. In order to purchase TUSD or redeem TUSD through our web application, current BSA/AML regulation requires that you provide your name, Tax ID, address, Date of Birth, Government ID card, and Address Verification (if your country is not in the US).
How will you maintain price stability for TrueUSD?
Price deviations between TrueUSD and USD present an opportunity for arbitrageurs. Since traders can always trade TrueUSD for the equivalent USD on TrueUSD.com, there will be an incentive to buy or sell mis-priced TrueUSD on exchanges and convert on TrueUSD.com.
Which exchanges will you be listed on?
TrueUSD is currently listed on Binance, Bittrex, Upbit, and a number of other exchanges.
Subscribe to our newsletter to be the first to hear when new exchange listings go live.
What is the Ethereum address of the TrueUSD smart contract?
https://etherscan.io/token/0x8dd5fbce2f6a956c3022ba3663759011dd51e73e#balances
Why do you use escrow accounts and banks?
Were taking a practical, hybrid approach to tokenizing US Dollars.
Someday, governments might enable digital signatures for smart contracts or DAOs to directly own bank accounts. That would be more purely decentralized. If/when that happens, well celebrate the victory for the crypto industry and start building tools to help people make use of that new regulation.
Today, if a person or company wants to open a bank account, it requires a human representative.
So until banks allow smart contract signatures, were building on one of the best-known, frequently-tested system for bank account management: escrow accounts. Escrow accounts are already widely used for fund management.
We recognize that escrow accounts arent the endgame for decentralized money and tokenized asset management, but the trust and escrow industry already work well for the management and distribution of assets.
Escrow accounts and trust accounts operate on similar legal frameworks, and well use both for tokenizing different asset classes. See this blog post on trusts for more details.
Will TrueUSD tokens be classified as securities?
Our legal counsel has provided a memorandum that TrueUSD tokens are not securities. They are more akin to deposit & safekeeping receipts, which the SEC has previously analyzed and recommended no enforcement actions for their use (see 40 Fed. Reg. 1695 et. seq).
What are the fees?
The current fees are:
* To purchase and redeem TrueUSD for USD: the larger of 10 basis points or $75
* 10 basis points on transactions of TrueUSD between Ethereum wallets (this will only be charged once the TrustToken platform launches, and will be off until then)
Future Plans
Why US Dollars? Do you plan to offer other currencies?
USD is already the industry standard and used as the fiat currency base trading pair. Were starting with US Dollars - TrueEuro, TrueYen, and stable baskets of tokenized goods (including precious metals and real estate) may be future projects. People will be able to create their own baskets, and markets can decide which baskets are the best stable currencies.
Are you trying to compete with algorithmic stablecoins like Basecoin or MakerDAO?
* No. We think we will be complementary. The crypto economy needs diverse options for stable cryptocurrencies. Were excited for algorithm-based possibilities, but they havent yet been proven in the market. Some investors might find extra peace of mind in the knowledge that their dollar-tokens correspond to fiat currency in an audited bank account. In the long term, we think there will be roles for both protocol-based and asset-backed stable cryptocurrencies. Traders will reasonably seek opportunities to diversify their stable crypto holdings.
* Asset-backed stablecoin applications built on TrustToken are similar by name but have a substantially different customer base: at least in the near term, we expect that crypto startups will be comfortable with algorithm-based stablecoins, but traditional financial institutions will prefer asset-backed tokens.
Its reasonable for investors to want exposure to multiple stablecoin categories, as a bet on the industrys need for a stablecoin. Its similar to how investors might buy both ZCash and Monero as a way to get exposure to the markets demand for privacy coins.
Our focus is on the large demand for cryptocurrencies that are backed by real-world currencies and financial assets.
How is TrueUSD different from Tether?
We wanted to build a stablecoin that we would use and trust ourselves.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder.
Heres what this means for users of TrueUSD:
Legal Protection
As one of the most widely used legal vehicles for managing other peoples money, escrow accounts enable regular attestations and strong legal protection for token holders.
Redeemable for USD
Any institution or individual with a verified TrueCoin account that passes a standard KYC/AML check can redeem TrueUSD for USD. During the current alpha version, there is a $10,000 minimum on redemptions. This amount is common for our current institutional users, and we aim to reduce this minimum for retail users in the future.
Trustworthy Fund Management
Our legal framework enables you to exchange USD directly with escrow accounts we never touch the funds. Instead, you send USD to or receive USD from one of the escrow accounts in our network of fiduciary and banking partners to purchase or redeem TrueUSD. This reduces the counterparty risk that is common in other collateralized stablecoin projects.
Full Collateral
Every TrueUSD is always fully collateralized by USD, held in a professional trust companys escrow account. Our publicly audited smart contracts mint TrueUSD when USD clears the escrow accounts and burns TrueUSD when USD is redeemed to ensure a 1:1 parity between the TrueUSD in circulation and the USD in the escrow accounts.
Regular Attestations
The escrow account holdings are published regularly and subject to ongoing professional attestations. We regularly undergo independent third-party evaluations by leading auditors such as Cohen & Co. to ensure best security practices.
Ethereum Cryptocurrency Cryptocurrency Investment Bitcoin Trueusd
https://blog.trusttoken.com/trueusd-faq-18dbc563fb67
General
Who is the team?
The team comes out of Stanford, UC Berkeley, Palantir, and Google; its backers include Founders Fund Angel, Stanford-StartX, and Blocktower Capital. The TrueUSD team has developed a legal framework for collateralized cryptocurrencies in collaboration with WilmerHale and White & Case, and has a network of fiduciary, compliance, and banking partners.
What is TrueUSD?
TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counterparty risk, and to provide token-holders with legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform.
What is TrustToken?
TrustToken is a platform to create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens.
Who can use TrueUSD?
Weve designed the alpha version to address the immediate needs of crypto exchanges, crypto traders, and financial companies.
* Crypto Traders and Exchanges: Cryptocurrency traders want a trustworthy stablecoin to hedge against volatility, and enter crypto markets without immediate exposure to BTC/ETH.
* Mainstream Commerce: Everyday people and businesses can enjoy the benefits of digital currencies (faster transaction speed than ACH, global reach) without the volatility of Bitcoin. Now you can pay a salary, take out a loan, or buy coffee with a cryptocurrency, enabling a new economy of cryptocurrency financial applications.
* Developing economies: Some developing markets are increasingly reliant on cryptocurrencies for trade.
* Financial institutions: Financial companies that want to get into crypto, but have reasonable reservations against putting e.g. $100M into a new algorithmic stablecoin vs. $100M of legally-enforceable certificates of ownership of the US dollar.
In the alpha version of TrueUSD, redemptions will be restricted to a $10,000 minimum. Anyone can use TrueUSD once they are listed on exchanges.
In the 1.0 release of TrueUSD, we will be lowering our redemption minimum to allow for lower volume redemptions.
Why this sequence? Were opening access gradually so that stability can be maintained from the beginning.
Product
How do I know my funds are secure when I wire them to the bank account?
We partner with licensed trust companies and banks to securely hold the funds backing TrueUSD tokens. For increased security, the trust companies handle all funds directly and the TrueUSD team does not have access, nor is involved in the transfer of, the escrowed funds.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder. The legal privileges of token holders are described in the TrueUSD Terms of Use.
Do I have to go through the KYC/AML process?
Yes. In order to purchase TUSD or redeem TUSD through our web application, current BSA/AML regulation requires that you provide your name, Tax ID, address, Date of Birth, Government ID card, and Address Verification (if your country is not in the US).
How will you maintain price stability for TrueUSD?
Price deviations between TrueUSD and USD present an opportunity for arbitrageurs. Since traders can always trade TrueUSD for the equivalent USD on TrueUSD.com, there will be an incentive to buy or sell mis-priced TrueUSD on exchanges and convert on TrueUSD.com.
Which exchanges will you be listed on?
TrueUSD is currently listed on Binance, Bittrex, Upbit, and a number of other exchanges.
Subscribe to our newsletter to be the first to hear when new exchange listings go live.
What is the Ethereum address of the TrueUSD smart contract?
https://etherscan.io/token/0x8dd5fbce2f6a956c3022ba3663759011dd51e73e#balances
Why do you use escrow accounts and banks?
Were taking a practical, hybrid approach to tokenizing US Dollars.
Someday, governments might enable digital signatures for smart contracts or DAOs to directly own bank accounts. That would be more purely decentralized. If/when that happens, well celebrate the victory for the crypto industry and start building tools to help people make use of that new regulation.
Today, if a person or company wants to open a bank account, it requires a human representative.
So until banks allow smart contract signatures, were building on one of the best-known, frequently-tested system for bank account management: escrow accounts. Escrow accounts are already widely used for fund management.
We recognize that escrow accounts arent the endgame for decentralized money and tokenized asset management, but the trust and escrow industry already work well for the management and distribution of assets.
Escrow accounts and trust accounts operate on similar legal frameworks, and well use both for tokenizing different asset classes. See this blog post on trusts for more details.
Will TrueUSD tokens be classified as securities?
Our legal counsel has provided a memorandum that TrueUSD tokens are not securities. They are more akin to deposit & safekeeping receipts, which the SEC has previously analyzed and recommended no enforcement actions for their use (see 40 Fed. Reg. 1695 et. seq).
What are the fees?
The current fees are:
* To purchase and redeem TrueUSD for USD: the larger of 10 basis points or $75
* 10 basis points on transactions of TrueUSD between Ethereum wallets (this will only be charged once the TrustToken platform launches, and will be off until then)
Future Plans
Why US Dollars? Do you plan to offer other currencies?
USD is already the industry standard and used as the fiat currency base trading pair. Were starting with US Dollars - TrueEuro, TrueYen, and stable baskets of tokenized goods (including precious metals and real estate) may be future projects. People will be able to create their own baskets, and markets can decide which baskets are the best stable currencies.
Are you trying to compete with algorithmic stablecoins like Basecoin or MakerDAO?
* No. We think we will be complementary. The crypto economy needs diverse options for stable cryptocurrencies. Were excited for algorithm-based possibilities, but they havent yet been proven in the market. Some investors might find extra peace of mind in the knowledge that their dollar-tokens correspond to fiat currency in an audited bank account. In the long term, we think there will be roles for both protocol-based and asset-backed stable cryptocurrencies. Traders will reasonably seek opportunities to diversify their stable crypto holdings.
* Asset-backed stablecoin applications built on TrustToken are similar by name but have a substantially different customer base: at least in the near term, we expect that crypto startups will be comfortable with algorithm-based stablecoins, but traditional financial institutions will prefer asset-backed tokens.
Its reasonable for investors to want exposure to multiple stablecoin categories, as a bet on the industrys need for a stablecoin. Its similar to how investors might buy both ZCash and Monero as a way to get exposure to the markets demand for privacy coins.
Our focus is on the large demand for cryptocurrencies that are backed by real-world currencies and financial assets.
How is TrueUSD different from Tether?
We wanted to build a stablecoin that we would use and trust ourselves.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder.
Heres what this means for users of TrueUSD:
Legal Protection
As one of the most widely used legal vehicles for managing other peoples money, escrow accounts enable regular attestations and strong legal protection for token holders.
Redeemable for USD
Any institution or individual with a verified TrueCoin account that passes a standard KYC/AML check can redeem TrueUSD for USD. During the current alpha version, there is a $10,000 minimum on redemptions. This amount is common for our current institutional users, and we aim to reduce this minimum for retail users in the future.
Trustworthy Fund Management
Our legal framework enables you to exchange USD directly with escrow accounts we never touch the funds. Instead, you send USD to or receive USD from one of the escrow accounts in our network of fiduciary and banking partners to purchase or redeem TrueUSD. This reduces the counterparty risk that is common in other collateralized stablecoin projects.
Full Collateral
Every TrueUSD is always fully collateralized by USD, held in a professional trust companys escrow account. Our publicly audited smart contracts mint TrueUSD when USD clears the escrow accounts and burns TrueUSD when USD is redeemed to ensure a 1:1 parity between the TrueUSD in circulation and the USD in the escrow accounts.
Regular Attestations
The escrow account holdings are published regularly and subject to ongoing professional attestations. We regularly undergo independent third-party evaluations by leading auditors such as Cohen & Co. to ensure best security practices.
Ethereum Cryptocurrency Cryptocurrency Investment Bitcoin Trueusd
Re: [STE] [A2A] STeX Exchange, A New Standard for Cryptocurrency Trading
TUSD. another good one.
What is TrueUSD (TUSD)? Overview & FAQ
https://blog.trusttoken.com/trueusd-faq-18dbc563fb67
General
Who is the team?
The team comes out of Stanford, UC Berkeley, Palantir, and Google; its backers include Founders Fund Angel, Stanford-StartX, and Blocktower Capital. The TrueUSD team has developed a legal framework for collateralized cryptocurrencies in collaboration with WilmerHale and White & Case, and has a network of fiduciary, compliance, and banking partners.
What is TrueUSD?
TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counterparty risk, and to provide token-holders with legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform.
What is TrustToken?
TrustToken is a platform to create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens.
Who can use TrueUSD?
Weve designed the alpha version to address the immediate needs of crypto exchanges, crypto traders, and financial companies.
* Crypto Traders and Exchanges: Cryptocurrency traders want a trustworthy stablecoin to hedge against volatility, and enter crypto markets without immediate exposure to BTC/ETH.
* Mainstream Commerce: Everyday people and businesses can enjoy the benefits of digital currencies (faster transaction speed than ACH, global reach) without the volatility of Bitcoin. Now you can pay a salary, take out a loan, or buy coffee with a cryptocurrency, enabling a new economy of cryptocurrency financial applications.
* Developing economies: Some developing markets are increasingly reliant on cryptocurrencies for trade.
* Financial institutions: Financial companies that want to get into crypto, but have reasonable reservations against putting e.g. $100M into a new algorithmic stablecoin vs. $100M of legally-enforceable certificates of ownership of the US dollar.
In the alpha version of TrueUSD, redemptions will be restricted to a $10,000 minimum. Anyone can use TrueUSD once they are listed on exchanges.
In the 1.0 release of TrueUSD, we will be lowering our redemption minimum to allow for lower volume redemptions.
Why this sequence? Were opening access gradually so that stability can be maintained from the beginning.
Product
How do I know my funds are secure when I wire them to the bank account?
We partner with licensed trust companies and banks to securely hold the funds backing TrueUSD tokens. For increased security, the trust companies handle all funds directly and the TrueUSD team does not have access, nor is involved in the transfer of, the escrowed funds.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder. The legal privileges of token holders are described in the TrueUSD Terms of Use.
Do I have to go through the KYC/AML process?
Yes. In order to purchase TUSD or redeem TUSD through our web application, current BSA/AML regulation requires that you provide your name, Tax ID, address, Date of Birth, Government ID card, and Address Verification (if your country is not in the US).
How will you maintain price stability for TrueUSD?
Price deviations between TrueUSD and USD present an opportunity for arbitrageurs. Since traders can always trade TrueUSD for the equivalent USD on TrueUSD.com, there will be an incentive to buy or sell mis-priced TrueUSD on exchanges and convert on TrueUSD.com.
Which exchanges will you be listed on?
TrueUSD is currently listed on Binance, Bittrex, Upbit, and a number of other exchanges.
Subscribe to our newsletter to be the first to hear when new exchange listings go live.
What is the Ethereum address of the TrueUSD smart contract?
https://etherscan.io/token/0x8dd5fbce2f6a956c3022ba3663759011dd51e73e#balances
Why do you use escrow accounts and banks?
Were taking a practical, hybrid approach to tokenizing US Dollars.
Someday, governments might enable digital signatures for smart contracts or DAOs to directly own bank accounts. That would be more purely decentralized. If/when that happens, well celebrate the victory for the crypto industry and start building tools to help people make use of that new regulation.
Today, if a person or company wants to open a bank account, it requires a human representative.
So until banks allow smart contract signatures, were building on one of the best-known, frequently-tested system for bank account management: escrow accounts. Escrow accounts are already widely used for fund management.
We recognize that escrow accounts arent the endgame for decentralized money and tokenized asset management, but the trust and escrow industry already work well for the management and distribution of assets.
Escrow accounts and trust accounts operate on similar legal frameworks, and well use both for tokenizing different asset classes. See this blog post on trusts for more details.
Will TrueUSD tokens be classified as securities?
Our legal counsel has provided a memorandum that TrueUSD tokens are not securities. They are more akin to deposit & safekeeping receipts, which the SEC has previously analyzed and recommended no enforcement actions for their use (see 40 Fed. Reg. 1695 et. seq).
What are the fees?
The current fees are:
* To purchase and redeem TrueUSD for USD: the larger of 10 basis points or $75
* 10 basis points on transactions of TrueUSD between Ethereum wallets (this will only be charged once the TrustToken platform launches, and will be off until then)
Future Plans
Why US Dollars? Do you plan to offer other currencies?
USD is already the industry standard and used as the fiat currency base trading pair. Were starting with US Dollars - TrueEuro, TrueYen, and stable baskets of tokenized goods (including precious metals and real estate) may be future projects. People will be able to create their own baskets, and markets can decide which baskets are the best stable currencies.
Are you trying to compete with algorithmic stablecoins like Basecoin or MakerDAO?
* No. We think we will be complementary. The crypto economy needs diverse options for stable cryptocurrencies. Were excited for algorithm-based possibilities, but they havent yet been proven in the market. Some investors might find extra peace of mind in the knowledge that their dollar-tokens correspond to fiat currency in an audited bank account. In the long term, we think there will be roles for both protocol-based and asset-backed stable cryptocurrencies. Traders will reasonably seek opportunities to diversify their stable crypto holdings.
* Asset-backed stablecoin applications built on TrustToken are similar by name but have a substantially different customer base: at least in the near term, we expect that crypto startups will be comfortable with algorithm-based stablecoins, but traditional financial institutions will prefer asset-backed tokens.
Its reasonable for investors to want exposure to multiple stablecoin categories, as a bet on the industrys need for a stablecoin. Its similar to how investors might buy both ZCash and Monero as a way to get exposure to the markets demand for privacy coins.
Our focus is on the large demand for cryptocurrencies that are backed by real-world currencies and financial assets.
How is TrueUSD different from Tether?
We wanted to build a stablecoin that we would use and trust ourselves.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder.
Heres what this means for users of TrueUSD:
Legal Protection
As one of the most widely used legal vehicles for managing other peoples money, escrow accounts enable regular attestations and strong legal protection for token holders.
Redeemable for USD
Any institution or individual with a verified TrueCoin account that passes a standard KYC/AML check can redeem TrueUSD for USD. During the current alpha version, there is a $10,000 minimum on redemptions. This amount is common for our current institutional users, and we aim to reduce this minimum for retail users in the future.
Trustworthy Fund Management
Our legal framework enables you to exchange USD directly with escrow accounts we never touch the funds. Instead, you send USD to or receive USD from one of the escrow accounts in our network of fiduciary and banking partners to purchase or redeem TrueUSD. This reduces the counterparty risk that is common in other collateralized stablecoin projects.
Full Collateral
Every TrueUSD is always fully collateralized by USD, held in a professional trust companys escrow account. Our publicly audited smart contracts mint TrueUSD when USD clears the escrow accounts and burns TrueUSD when USD is redeemed to ensure a 1:1 parity between the TrueUSD in circulation and the USD in the escrow accounts.
Regular Attestations
The escrow account holdings are published regularly and subject to ongoing professional attestations. We regularly undergo independent third-party evaluations by leading auditors such as Cohen & Co. to ensure best security practices.
Ethereum Cryptocurrency Cryptocurrency Investment Bitcoin Trueusd
What is TrueUSD (TUSD)? Overview & FAQ
https://blog.trusttoken.com/trueusd-faq-18dbc563fb67
General
Who is the team?
The team comes out of Stanford, UC Berkeley, Palantir, and Google; its backers include Founders Fund Angel, Stanford-StartX, and Blocktower Capital. The TrueUSD team has developed a legal framework for collateralized cryptocurrencies in collaboration with WilmerHale and White & Case, and has a network of fiduciary, compliance, and banking partners.
What is TrueUSD?
TrueUSD is a USD-backed ERC20 stablecoin that is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD uses multiple escrow accounts to reduce counterparty risk, and to provide token-holders with legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform.
What is TrustToken?
TrustToken is a platform to create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens.
Who can use TrueUSD?
Weve designed the alpha version to address the immediate needs of crypto exchanges, crypto traders, and financial companies.
* Crypto Traders and Exchanges: Cryptocurrency traders want a trustworthy stablecoin to hedge against volatility, and enter crypto markets without immediate exposure to BTC/ETH.
* Mainstream Commerce: Everyday people and businesses can enjoy the benefits of digital currencies (faster transaction speed than ACH, global reach) without the volatility of Bitcoin. Now you can pay a salary, take out a loan, or buy coffee with a cryptocurrency, enabling a new economy of cryptocurrency financial applications.
* Developing economies: Some developing markets are increasingly reliant on cryptocurrencies for trade.
* Financial institutions: Financial companies that want to get into crypto, but have reasonable reservations against putting e.g. $100M into a new algorithmic stablecoin vs. $100M of legally-enforceable certificates of ownership of the US dollar.
In the alpha version of TrueUSD, redemptions will be restricted to a $10,000 minimum. Anyone can use TrueUSD once they are listed on exchanges.
In the 1.0 release of TrueUSD, we will be lowering our redemption minimum to allow for lower volume redemptions.
Why this sequence? Were opening access gradually so that stability can be maintained from the beginning.
Product
How do I know my funds are secure when I wire them to the bank account?
We partner with licensed trust companies and banks to securely hold the funds backing TrueUSD tokens. For increased security, the trust companies handle all funds directly and the TrueUSD team does not have access, nor is involved in the transfer of, the escrowed funds.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder. The legal privileges of token holders are described in the TrueUSD Terms of Use.
Do I have to go through the KYC/AML process?
Yes. In order to purchase TUSD or redeem TUSD through our web application, current BSA/AML regulation requires that you provide your name, Tax ID, address, Date of Birth, Government ID card, and Address Verification (if your country is not in the US).
How will you maintain price stability for TrueUSD?
Price deviations between TrueUSD and USD present an opportunity for arbitrageurs. Since traders can always trade TrueUSD for the equivalent USD on TrueUSD.com, there will be an incentive to buy or sell mis-priced TrueUSD on exchanges and convert on TrueUSD.com.
Which exchanges will you be listed on?
TrueUSD is currently listed on Binance, Bittrex, Upbit, and a number of other exchanges.
Subscribe to our newsletter to be the first to hear when new exchange listings go live.
What is the Ethereum address of the TrueUSD smart contract?
https://etherscan.io/token/0x8dd5fbce2f6a956c3022ba3663759011dd51e73e#balances
Why do you use escrow accounts and banks?
Were taking a practical, hybrid approach to tokenizing US Dollars.
Someday, governments might enable digital signatures for smart contracts or DAOs to directly own bank accounts. That would be more purely decentralized. If/when that happens, well celebrate the victory for the crypto industry and start building tools to help people make use of that new regulation.
Today, if a person or company wants to open a bank account, it requires a human representative.
So until banks allow smart contract signatures, were building on one of the best-known, frequently-tested system for bank account management: escrow accounts. Escrow accounts are already widely used for fund management.
We recognize that escrow accounts arent the endgame for decentralized money and tokenized asset management, but the trust and escrow industry already work well for the management and distribution of assets.
Escrow accounts and trust accounts operate on similar legal frameworks, and well use both for tokenizing different asset classes. See this blog post on trusts for more details.
Will TrueUSD tokens be classified as securities?
Our legal counsel has provided a memorandum that TrueUSD tokens are not securities. They are more akin to deposit & safekeeping receipts, which the SEC has previously analyzed and recommended no enforcement actions for their use (see 40 Fed. Reg. 1695 et. seq).
What are the fees?
The current fees are:
* To purchase and redeem TrueUSD for USD: the larger of 10 basis points or $75
* 10 basis points on transactions of TrueUSD between Ethereum wallets (this will only be charged once the TrustToken platform launches, and will be off until then)
Future Plans
Why US Dollars? Do you plan to offer other currencies?
USD is already the industry standard and used as the fiat currency base trading pair. Were starting with US Dollars - TrueEuro, TrueYen, and stable baskets of tokenized goods (including precious metals and real estate) may be future projects. People will be able to create their own baskets, and markets can decide which baskets are the best stable currencies.
Are you trying to compete with algorithmic stablecoins like Basecoin or MakerDAO?
* No. We think we will be complementary. The crypto economy needs diverse options for stable cryptocurrencies. Were excited for algorithm-based possibilities, but they havent yet been proven in the market. Some investors might find extra peace of mind in the knowledge that their dollar-tokens correspond to fiat currency in an audited bank account. In the long term, we think there will be roles for both protocol-based and asset-backed stable cryptocurrencies. Traders will reasonably seek opportunities to diversify their stable crypto holdings.
* Asset-backed stablecoin applications built on TrustToken are similar by name but have a substantially different customer base: at least in the near term, we expect that crypto startups will be comfortable with algorithm-based stablecoins, but traditional financial institutions will prefer asset-backed tokens.
Its reasonable for investors to want exposure to multiple stablecoin categories, as a bet on the industrys need for a stablecoin. Its similar to how investors might buy both ZCash and Monero as a way to get exposure to the markets demand for privacy coins.
Our focus is on the large demand for cryptocurrencies that are backed by real-world currencies and financial assets.
How is TrueUSD different from Tether?
We wanted to build a stablecoin that we would use and trust ourselves.
When you complete the KYC/AML process and wire funds to the third-party escrow accounts, an equivalent amount of TUSD is freshly minted to your ethereum address. Each TUSD represents a redeemable certificate for one US Dollar held in escrow for the benefit of the TUSD holder.
Heres what this means for users of TrueUSD:
Legal Protection
As one of the most widely used legal vehicles for managing other peoples money, escrow accounts enable regular attestations and strong legal protection for token holders.
Redeemable for USD
Any institution or individual with a verified TrueCoin account that passes a standard KYC/AML check can redeem TrueUSD for USD. During the current alpha version, there is a $10,000 minimum on redemptions. This amount is common for our current institutional users, and we aim to reduce this minimum for retail users in the future.
Trustworthy Fund Management
Our legal framework enables you to exchange USD directly with escrow accounts we never touch the funds. Instead, you send USD to or receive USD from one of the escrow accounts in our network of fiduciary and banking partners to purchase or redeem TrueUSD. This reduces the counterparty risk that is common in other collateralized stablecoin projects.
Full Collateral
Every TrueUSD is always fully collateralized by USD, held in a professional trust companys escrow account. Our publicly audited smart contracts mint TrueUSD when USD clears the escrow accounts and burns TrueUSD when USD is redeemed to ensure a 1:1 parity between the TrueUSD in circulation and the USD in the escrow accounts.
Regular Attestations
The escrow account holdings are published regularly and subject to ongoing professional attestations. We regularly undergo independent third-party evaluations by leading auditors such as Cohen & Co. to ensure best security practices.
Ethereum Cryptocurrency Cryptocurrency Investment Bitcoin Trueusd
thanks. it'll be exciting to see how they market this thing once they go 'final' later this month. i'd suggest places like currencio.co which is a simple way to convert the value of crypto to fiat. example: usd to eth https://currencio.co/usd/eth/, eth to usd https://currencio.co/eth/usd/, btc to usd https://currencio.co/btc/usd/, usd to btc https://currencio.co/usd/usd and so forth. i think they also got ltc and plenty others. i use that service once in a while and if i remember correctly i saw a few KuCoin ads there.
Re: [STE] [A2A] STeX Exchange, A New Standard for Cryptocurrency Trading
or for those who prefer to see the price in BTC or ETH or w/e:
https://trade.stex.exchange/webapp/pair=OMG-BTC
https://trade.stex.exchange/webapp/pair=OMG-ETH
https://trade.stex.exchange/webapp/pair=OMG-LTC
https://trade.stex.exchange/webapp/pair=OMG-A2A
https://trade.stex.exchange/webapp/pair=OMG-STE
https://trade.stex.exchange/webapp/pair=OMG-DASH
https://trade.stex.exchange/webapp/pair=BTC-ETH
https://trade.stex.exchange/webapp/pair=ETH-BTC
https://trade.stex.exchange/webapp/pair=LTC-USDT
and plenty others. click the MARKET EXPLORER tab at https://trade.stex.exchange/ and set the BASE CURRENCY to whatever you want out of the 14 currently available coins on STeX EXCHANGE so far such as USDT or BTC. that way you get a full list of the current tokens on the exchange and the price of each coin in the base currency of your choice.
https://trade.stex.exchange/webapp/pair=OMG-BTC
https://trade.stex.exchange/webapp/pair=OMG-ETH
https://trade.stex.exchange/webapp/pair=OMG-LTC
https://trade.stex.exchange/webapp/pair=OMG-A2A
https://trade.stex.exchange/webapp/pair=OMG-STE
https://trade.stex.exchange/webapp/pair=OMG-DASH
https://trade.stex.exchange/webapp/pair=BTC-ETH
https://trade.stex.exchange/webapp/pair=ETH-BTC
https://trade.stex.exchange/webapp/pair=LTC-USDT
and plenty others. click the MARKET EXPLORER tab at https://trade.stex.exchange/ and set the BASE CURRENCY to whatever you want out of the 14 currently available coins on STeX EXCHANGE so far such as USDT or BTC. that way you get a full list of the current tokens on the exchange and the price of each coin in the base currency of your choice.
even better. i love it. are we still on schedule with the final release btw?
September 30.
But understand - the final release just means that the current Beta warning at the top of https://stex.exchange is removed. That the exchange (v. 4.30+) is ready for promotion and that there are no notable bugs. The work will go on. More and more features will be implemented - more and more coins will be added.excellent. so at what point do you think all the features as advertised will be ready?
Re: ✅[ANN][ICO A2A tokens]✅ STeX: 1st Aggregator of the crypto-liquidity
right. and if everything goes smoothly when at what point, in your opinion or others you've talked to or heard from, could STeX EXCHANGE have all the features up and running? margin trading, hedge funds and so forth.