HUSD Universal Stablecoin by Huobi
On October 19 Huobi Global announced that will be released Stablecoins HUSD. Stablecoins is asset with backed "real asset", this can be backed with fiat money "USD" or "Gold" and when users make a deposit or withdrawal, that "real asset" will be created or reduced following of value of converting "real asset" to "digital asset". Stablecoins is a digital asset which is used for users to keep and maximise value of holding their asset, it means if users hold Bitcoin or Ethereum that price have high fluctuations price and it will being confused for holder if Bitcoin or Ethereum price falling down in few hours or few days. With stablecoins users can reduced risk of value asset from high fluctuations price when holding digital asset.
Negative Roumors of Transparency and Backed of Theter USDT
Today on crypto markets there are four of stablecoins which is listed on Huobi Exchange, PAX (Paxos Standard Token) , USDC (USD Coin), TUSD (True USD), GUSD (Gemini Dollar), and Huobi released new stablecoins HUSD. Before that world of cryptocurrency only have one stablecoins Tether (USDT) because so many crypto asset on crypto exchange paired with USDT. I think maybe all of crypto traders trust that Theter USDT is Fiat Money which is 1 USDT = is backed by 1 USD and then problems coming. Theter USDT have negative rumours from crypto community, i hear this rumours from Twitter and other channels that Theter (USDT) have problems from transparency of issued, and reports about USD money in Banking to backed Theter USDT, cointelegraph was released news about serious problems of Theter USDT. Developer and Crypto community know this problem can be changed trust and value of digital asset because transparency is the key of trust cryptocurrency and blockchain technology.
It’s no secret that community concerns have driven strong demand for stablecoins across the crypto space,” said Leon Li, founder and CEO of Huobi Group.
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| Image Source: huobiblog.com |
Introducing HUSD - Universal Stablecoins
HUSD is stablecoins that released by Huobi. HUSD provides for easier users to manage asset when users make deposit stablecoins to Huobi Account. I think HUSD is the best solutions for stablecoins coins, its Universal because HUSD supported to four newly stablecoins, PAX (Paxos Standard Token), USDC (USD Coin), TUSD (True USD), and GUSD (Gemini Dollar). HUSD its free to convert between four of newly stablecoins. When you make deposit PAX, USDC, TUSD, and GUSD to your account it will be automatically converted and displayed to HUSD. For easy understanding, 1 GUSD : 1 HUSD.
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| Image Source: huobiblog.com |
The launch schedule HUSD on Huobi Exchange
- The deposit service of PAX, TUSD, USDC and GUSD will start at 16:00, October 19 (GMT+8 ).
- USDT/HUSD trading pair will be listed at 10:00 AM, October 22 (GMT+8) on Huobi Global
- Transfer service of HUSD between Huobi OTC and Huobi Global will start at 10:00 AM, October 22 (GMT+8), and trading services of HUSD on Huobi OTC will start at 10:00, October 23 (GMT+8)
- Huobi Global will commence BTC/HUSD and ETH/HUSD trading at another time after evaluating market conditions
- Huobi App will support the trading service of USDT/HUSD, and the deposit and withdrawal services of HUSD will be available in the next App version
- Huobi Global will start the withdrawal services of the stablecoins in one to two weeks. The specific time and date will be notified via a separate announcement
You can try HUSD feature on Huobi Exchange, Just click this link if you want to register New Huobi Exchange Account. Make deposit various stablecoins PAX, USDC, TUSD, or GUSD and get benefit of HUSD stablecoins. This more benefits for you to used stablecoins HUSD on Huobi Exchange.
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| image source: smartpropertyinvestment.com |
Protection Risk Instability Value of Stablecoins
With fully supported stablecoins Huobi fixed value of stablecoins. 1 stablecoins = 1 HUSD. This fixed value can reduced your risk when price stablecoins falls on bear market, is the best way to keep your assets value unchanged. Huobi will continue to control that four stablecoins PAX, USDC, TUSD, or GUSD. HUSD system will ensure value and standard of stablecoins within HUSD system, if that stablecoins exceeds risk control requirements, the stablecoin will be stripped from the HUSD system. With HUSD system, it will be secured to store stablecoins especially to keep your assets value unchanged when bear market coming to various stablecoins and don't forget HUSD system always make audit stablecoins regularly.
Free Cost for Convert to Stablecoins
With HUSD you will be more convenient and more seamless when access and manage your stablecoins coins asset, its will be help users if you want to make withdrawal you can selected what stablecoins you need to withdraw between PAX, USDC, TUSD, or GUSD ? HUSD system will be converted for you and its free of cost, 1 Stablecoins : 1 HUSD. You only need to pay transaction fee on Blockchain transferred for withdrawal your selected stablecoins.
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| image source: trusttoken.com/trueusd/ |
Huobi Global Listed True USD [TUSD]
With new standard of stablecoin, True USD (TUSD) provided user to deposit or withdraw Fiat money USD to converted stablecoin TUSD. Legal framework of TUSD smart contract can enables user to exchange Fiat money USD directly with an escrow account, with escrow account framework TUSD Developer said “they never touch user funds”. Through Smart contract TUSD ensure parity between TrueUSD and USD in the escrow accounts. TUSD escrow accounts can enable regular attestations and complete legal protection for token holders.
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| image source: https://twitter.com/TrustToken/status/1052246170464972801 |
Legal protection, transparency and enable regular auditing to secure and record transaction in TUSD stablecoin is key of reason why Huobi Global support to listed TUSD on Huobi Exchange. Of course you can deposit TUSD to your Huobi Account and for convenient to manage TUSD, after your TUSD deposit arrived tou your Huobi Account it will be automatically converted and displayed on your balance as stablecoin HUSD with 1 : 1. For example you deposit 1 TUSD = 1 HUSD.
With many banefit from Huobi to released HUSD, I think if you want to feel comfortable and secure when manage, store and trade with stablecoins you should to try deposit between four stablecoins for HUSD stablecoins on Huobi Exchange. Convert HUSD to other stablecoins without fee transaction and when other exchange have different value to trade 1 stablecoins : 0.9 or 1.2 Dollar, Huobi always fixed price 1 stablecoins : 1 HUSD this adventages is really help you for no worry with fluctuations price values of stablecoins. You can try HUSD feature on Huobi Exchange, Just click this link if you want to register New Huobi Exchange Account. Deposit various stablecoins get benefit of HUSD stablecoins.
Keywords: #HUSD – The Universal Stablecoin , #Huobi Launches: HUSD , #Huobi HUSD – My review of HUSD
Disclaimer; The materials provided here is in general nature and does not take into your objectives, financial situation or yours needs. I share my prespective and my experience to provided my knowledge for readers this article. Consider your investment objectives, level of experience, and your financial resources, please research more information from source and official website to ensure yourself before your made investment in Digital Asset.
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HUSD Universal Stablecoin by Huobi
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