New dForce Community Proposal Proposes to Reduce TUSD’s Loan-to-Value Ratio to Zero
According to a new Unitus Improvement Proposal (UIP), the dForce community has proposed to lower the LTV (loan-to-value) ratio of TUSD to zero. The proposal states that the TUSD stablecoin experienced a slight decoupling on November 22, dropping to 0.9955 before recovering its peg. The main cause of this event was a surge in sell orders, highlighting the potential impact of large order blocks on liquidity and the possibility of slippage. Therefore, it is recommended to lower the loan-to-value (LTV) ratio of TUSD to 0 in order to more effectively reduce potential risks and strengthen protection for users and assets within the Unitus ecosystem.
TrueUSD: The address starting with 0x7bA7 does not belong to or be controlled by the TUSD team
TrueUSD stated on social media that regarding the address (0x7bA7EF06A2621267f063eF2DB2d482D5B507D8b3), it should be clarified that the address does not have any authority over the TUSD smart contract; it is specifically designated for token deployment. It has no authority over the current TUSD contract or user token assets, and has no impact on the operation of TUSD. The address does not belong to the TUSD team or is controlled by them, and there is no connection between the TUSD team and the address. Since the end of 2020, the TUSD team has obtained ownership of the TUSD contract. TUSD tokens are protected by our smart contract, which is securely owned and managed by the TUSD team.
Analysis: Some Private Keys Used to Deploy TrueUSD May Have Been Leaked
On October 23rd, it was announced that stablecoin issuer TrueUSD clarified in a statement on October 16th that they have "no relationship" with TEURO. However, blockchain analysis company ChainArgos analyzed that the TEURO token contract was deployed using one of TrueUSD's private keys. Given that TrueUSD acknowledged being hacked no later than September 18th and TEURO was deployed 10 days ago, there seems to be only one explanation:
1. Someone has some of TrueUSD's private keys;
2. This means that TrueUSD may not have revealed the full truth about the extent of the hack;
TUSD Circulation Surged by More Than 500 Million US Dollars Yesterday
On September 2nd, according to CoinGecko data, the circulating supply of TUSD increased from about $2.9 billion to over $3.4 billion, an increase of over $500 million.
54.3 Million TUSD Minted in Unknown Wallet
Whale Alert has monitored the minting of 54,300,000 TUSD (worth 54,262,913 USD) in an unknown wallet.
Rumor Has It That the Founder of Archblock Claims in a Lawsuit That Justin Sun Was the Secret Acquirer of TUSD
@tier10k said：Archblock Founder Claims Justin Sun Was Secret TUSD Acquirer in Lawsuit.
TUSD Reserves on the Aave V2 Ethereum Pool Have Been Frozen
July 4 (Cointime) -On July 4th, the AIP proposal on "freezing the TUSD reserve on the Aave V2 Ethereum pool" was recently passed and implemented. Following the recent TUSD asset incident, ACI proposed to freeze the TUSD reserve on the Aave V2 Ethereum pool. Users will be prevented from depositing or lending TUSD in the Aave V2 Ethereum pool. This will not affect current positions and users can still repay and withdraw TUSD from the Aave V2 Ethereum pool. This AIP is intended to take a conservative approach to the TUSD situation. It will allow the community to assess the situation before making any further decisions.
History List of series biggest redeemers of TUSD for Fiat
June 30 (Cointime) -According to ChainArgos, TUSD uses a very specific redemption format that has a lot of 0's in front (25 on ethereum and similar here though the fact that Tron addresses are written in base58 obscures that fact).
True USD's Liquidity and Pricing Examined Amid Increasing Short Interest and Exposure to Troubled Digital Asset Company Prime Trust
June 29 (Cointime) - Traders are closely watching the liquidity and pricing of True USD (TUSD) stablecoin as short interest rises. Recent reports show that TUSD has a $26,000 exposure to Prime Trust, a digital asset on- and off-ramp company that has been placed under receivership by Nevada regulators.
Traders Start Shorting TUSD as Crypto Custody Firm Prime Trust Suspends Deposits and Withdrawals, Price Drops to $0.9983
June 27 (Cointime) -Stablecoin TUSD is under pressure as Prime Trust suspends deposits and withdrawals. Traders started shorting TUSD with an increasing number of shorts. The price of TUSD also fell to a low of $0.9983. In addition, the SEC’s regulatory pressure on stablecoins is also increasing. TrueUSD stopped minting TUSD through the exchange and said it was waiting for further notice. While TrueUSD states that TUSD is 100% reserve, the discrepancy in funding raises concerns. Parsec data shows that $17.6 million in TUSD was lent on AAVE, with a total market cap of $3.1 billion.
