IOST Allows Users To Swap TUSD And USDC Into iUSD, Aims To Bring Liquidity To The Ecosystem
IOST platform announced on Monday that users can now swap TUSD and USDC into iUSD. iUSD was created by Servi Node Rate3, in order to bring much-needed liquidity to the IOST ecosystem. The announcement came via Twitter, in which the company also shared a link to a blog on medium.com.
You can now swap TUSD & USDC (ERC-20 tokens) into iUSD for use on $IOST mainnet! Built by Servi Node @OfficialRate3 to bring more liquidity to #IOST ecosystem. Are you ready to try out iUSD Stablecoin? 😉 #crypto #blockchain #stablecoin #tusd #usdc #iusdhttps://t.co/L1eXDm5rXz
— IOST (@IOST_Official) May 12, 2019
Ever since its launch in February earlier this year, the journey of IOST has been quite phenomenal. Within a few weeks, the platform surpassed Ethereum in terms of daily transactions, despite the latter’s 2,000 dapps and several hundred thousand strong developer bases. IOST also became the first blockchain platform to launch its mainnet six months before the expected.
Expansion of cryptocurrencies and crypto-related platforms depends a lot on the liquidity levels. Adding newer options to the platform allows potential users to explore the space.
The iUSD stablecoin uses a frictionless token swap solution that allows IOST users access to the high liquidity of USDC, TUSD and in the future, other ERC-20 stablecoins. It also enables users to seamlessly and reliably transfer value between the IOST network and other blockchain networks, eliminated the problem of liquidity found in many non-ERC-20 stablecoins.
said the company in its medium.com blog.
IOST has been among the forerunners in term of crypto adoption across industries. The platform recently partnered with FishChain to develop a new blockchain based gaming platform. Last month, the platform, with its X Berm Protocol, also joined the Pegasus Project.
The blockchain network launched the iUSD stablecoin earlier this year in March. The token allows users to seamlessly transfer cryptocurrencies between IOST Blockchain network and other blockchain platforms. Rate3, blockchain network by Singaporean Fintech start-up, which aims to create blockchain based solutions to help companies tokenize their assets.
The development is currently under the Beta stage, and therefore, users might experience some minor niggles which will be fine-tuned soon. Also, IOST has waived off entire charges on swaps till beta phase continues.
IOST is all set to penetrate the public utility blockchain space, in order to tackle the issue in public blockchain. This would also further the mass adoption efforts, by bringing blockchain among the masses.