- IOST says its new iUSD stablecoin will allow users to access liquidity on USDC, TUSD, and other ERC-20 stablecoins
- iUSD will allow users to transfer value between IOST and other blockchains seamlessly
- IOST firmly believes that iUSD will attract new users to its ecosystem
IOST (IOST), the fourth most active blockchain network for the development of decentralized applications (dApps), has announced the launch of own U.S dollar-pegged stablecoin, iUSD to support a stable token swap solution pegged to USDC and TUSD, according to a blog post on March 4, 2019
IOST (IOST) Joins the Stablecoin Race with iUSD
At a time when stablecoins are fast gaining traction in the cryptospace, with traditional financial institutions already catching the stablecoin fever, IOST (IOST), one of the fastest growing distributed ledger technology projects, has launched the iUSD.
Reportedly developed by Rate3, one of the numerous node partners on the IOST network, iUSD is designed to function as a stable token swap solution pegged to top stablecoins including Circle Center USDCoin (USDC) and TrustToken’s TrueUSD (TUSD).
While the IOST team plans to add support for Tether (USDT) shortly, IOST has made it clear that iUSD will enable holders to access liquidity on the supported USDC, TUSD as well as other ERC-20 stablecoins.
iUSD will solve the interoperability problem plaguing non-ERC-20 stablecoins and provide users with a robust platform to access liquidity and transfer value between the IOST network and other blockchains.
iUSD will Attract New Users’ to the IOST Ecosystem
Per the IOST team, the creation of iUSD will usher in new users into its rapidly growing ecosystem since it serves as a robust gateway providing users with deep liquidity and seamless value transfers.
“iUSD stablecoin give fiat money users outside of the cryptospace 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 participants into our rapidly growing network,” declared IOST.
IOST Aiming for the Moon
Since the launch of the IOST Olympus v1.0 mainnet earlier in February 2019, the IOST team have been working round the clock to make the network the best among equals, and it seems that hard work has started to yield positive results.
On April 2, 2019, Blockchain Reporter informed that IOST had launched its token buyback program in a bid to promote trust and boost the value of IOST token.
The team claims the IOST ecosystem is now growing at an exponential rate, attracting more than 15,000 new signups daily.
At press time, the price of IOST (IOST) sits at $0.01, with a market cap and 24-hour trading volume of $188.44 million and $88.13 million respectively.
