Low Asset

Innovation in DeFi: USTX Brings the First Low Volatility Asset on Tron

[ad_1]

Bologna, Italy, March 08, 2022 (GLOBE NEWSWIRE) — The blockchain technology has proven a key development factor for the new economy. One of the main drawbacks of digital currency is high volatility. The crypto market is also cyclic in nature, with big up and downs between cycles. In these conditions, crypto investors are looking for innovative and lower risk assets to protect value over time. The Up Stable Token eXperiment (USTX) project bridges the gap between stablecoins and normal tokens, providing growth potential and low volatility.

The USTX algorithm works inside the project DEX and manages the contract reserves depending on market condition. During expansive market the token price grows, while increasing the internal reserve level. During recessive market, the smart contract burns liquidity in reserve to sustain the price and protect the asset value. This behavior allows for reduced volatility and more consistent long term growth. This makes USTX the ideal asset for payments and investments. The project is open source, independent and audited.

The chart above depicts the algorithm behavior compared to a standard AMM DEX, using BTC historical data as the input. It’s clear that the red line (USTX) is capable of the same growth over time, while reducing the drawdown significantly, protecting the investment value of the users. It also reduces the risks associated to choosing a wrong entry point for the investment. With USTX there’s no need to switch over to stablecoins during bear market. It’s a token optimized for all market conditions.

The tablecoins (USDT, USDC, TUSD and USDJ) in reserve provide intrinsic value to the token. The contract liquidity is verifiable directly on-chain, removing the need for complex proof-of-reserve strategies. The project team has no control over the liquidity and cannot withdraw it in any case.

The project launched in October 2021 on Tron blockchain, shortly after came the listings on SunSwap and Coinsbit. The latest addition to the USTX ecosystem is the Staking platform, released in January 2022. With multiple staking options and yields up to 12%, it has been much appreciated by the users. The TVL (Total Value Locked) in staking is 75% of the circulating supply, a very high value by any metric. The team has very good relations with many other DeFi projects and a partnership with Kraftly.io, the main NFT marketplace on Tron, where you can mint NFTs paying with USTX. The price performance since launch is +133%, compared to a -36% for BTC over the same period.

The project team is continuously working to expand the utility, the adoption and the userbase of the token. With this goal in mind, USTX decided to participate to the Tron Grand Hackathon 2022. The event, promoted by TronDAO brings new opportunities and can accelerate the development of new applications in TRON and BTTC. USTX plan for is to bring two noteworthy additions to its expanding ecosystem: the Voting portal and the Crosschain bridge.

Through the Voting portal, the stakeholder will participate directly in the project most important strategic decisions, increasing the community engagement. The user will appreciate the app integration with USTX DEX and voting will happen on-chain. Every proposition will be managed by a smart contract and transactions will not require any fees to be spent by the user.

The Crosschain bridge will be the key for USTX launching on other blockchains and consequent userbase increase. The bridge implementation will focus on giving the user maximum control on the transaction process. Off-chain operations will be reduced as much as possible. After the deployment, USTX could be ported ideally to any EVM compatible blockchain, like BTTC, ETH, BSC, Polygon, Cronos and many other. All blockchain will share the token total supply, using the lock/release method on Tron and mint/burn on secondary chains. This will allow USTX to be one token, with one price and one supply, across multiple blockchains.

Crypto experts, KOLs, and a public community review board will vote and decide the hackathon winners, whose scores account for 30%, 30%, and 40%, respectively. Community reviewers will transparently vote on the TRON DAO Forum from March 8th to 11th.

You can learn more about the project by following our social media channels: Twitter, Telegram, Discord and Reddit.

Visit the website: https://ustx.io/


        

[ad_2]

Source link