PRESS RELEASE. IOST, an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability consensus algorithm, is integrating the HUSD stablecoin, according to an announcement on 13 Jan 2021.
HUSD is a safe and secure dollar-pegged stablecoin issued by Stable Universal Limited. Notably, IOST is the first batch of Public Blockchains to support HUSD. To celebrate this milestone, the two companies are giving away 35k HUSD exclusively for IOST users.
The announcement highlights HUSD’s integration as a significant milestone for IOST to build its growing influence in the DeFi scene.
About HUSD Stablecoin
Issued by fintech company 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, and many other use cases.
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 account 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 partnership and 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 will also 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 robust portfolio by offering developer-friendly features and environments.
The IOST platform emerged as a response to the scalability problem which it aims to tackle once and for all. To that effect, it implements an array of technologies, including the Proof-of-Believability algorithm, and high-performance virtual machine technology, all of which are supposed to offer higher TPS rates of up to 8000 transactions per second.
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.
IOST offers developer-friendly features that improve product development efficiency. No congestion and no high gas fees as seen in Ethereum, the reason many developers choose to launch DeFi projects on IOST. A zero transaction fee also guarantees users the convenience and accessibility of using DeFi applications on the IOST chain.
IOST has also embarked on multiple partnerships and recently launched a $1 million DeFi fund for the development of the DeFi ecosystem.
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 blockchain industry experts who have graduated from world top universities such as Princeton, Stanford, MIT, Tsinghua University, and Beijing University and have more than three years of blockchain-related research experience.
With a two-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and enterprise partnerships around the world. IOST is one of the Big Four public chains with a rich user base and real applicability alongside Ethereum, EOS, and TRON. 500,000 community members, over 20 countries worldwide, over 400 nodes, top staking economy, and growing.
If you would like to hang out with the IOST community on chat, social media, or to discuss product development, there is something for everyone:
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