IOST Blockchain will Support Stablecoin HUSD to Boom DeFi ecosystem
Dear HUSD community, today IOST,a fast decentralised blockchain network, has announced the plan to support HUSD- a U.S. dollar-pegged stablecoin. This significant milestone powers IOST as well as HUSD towards building influence through its robust and thriving DeFi portfolio.
What is HUSD Stablecoin
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. Once completed, IOST users will be able to deposit U.S. dollars in their accounts on Stable Universal and receive HUSD at a 1:1 ratio sent to their preferred crypto wallets.
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 & the upcoming 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.
IOST- The Next Home for DeFi
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.
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.
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.