TrueUSD (TUSD): D-Score 28/100 — Centralized Leaning

BlockIndex D-Score: 28/100 (Centralized Leaning). TrueUSD (TUSD) is a Layer 2 cryptocurrency using Other consensus. TrueUSD (TUSD): Fiat-collateralized ERC-20 stablecoin with live attestations and Chainlink Proof-of-Reserve across multiple chains.

Source: https://blockindex.ai/coin/tusd · Data by BlockIndex.AI · Updated 2026-06-19

D-Score breakdown (0-100, higher means more decentralized)
Component: Score: Overall D-Score: 28: Node distribution: 0: Initial distribution: 0: Governance: 16: Age and history: 12: Autonomy: 0: Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Fair Launch (2018)
- Founder: Rafael Kosman
- VC funded: No
- Max supply: N/A
- Circulating: 494,515,083

Market data (as of 2026-06-19)
- Price: $1
- Market cap: $493.6M
- 24h volume: $17.81M
- 24h change: +0.03% · 7d change: -0.01%

About
TrueUSD (TUSD) is a fiat-collateralized stablecoin designed to maintain a 1:1 peg to the U.S. dollar while providing transparent, auditable backing for tokens in circulation. Launched via the TrustToken platform in 2018, TUSD’s core value proposition is centered on on-chain attestations and independent third‑party attestations of custodial fiat reserves. The project positioned itself early in the stablecoin market by emphasizing real‑time attestations and by partnering with accounting firms and Chainlink’s Proof of Reserve (PoR) to provide customers, exchanges and DeFi protocols with verifiable reserve data. Over time, TUSD was deployed natively and bridged across many chains — most notably as an ERC‑20 token on Ethereum — to increase accessibility across centralized exchanges and decentralized finance platforms.

Technically, TUSD is a non‑native token (ERC‑20 primary deployment) that relies on host blockchains for settlement, security and consensus. It does not operate its own consensus layer or validator network; instead, minting and redemption are governed by off‑chain processes run by TrustToken and its fiduciary partners. Key technical features include live attestations of fiat reserves, periodic and ad‑hoc third‑party attestations, and integration with Chainlink Proof of Reserve to provide automated on‑chain signals of reserve holdings. The contract has undergone migrations (notably an ERC‑20 migration documented on 2018‑12‑31) and the project maintains multiple native and bridged contract addresses across networks such as Ethereum, Tron, Avalanche, BNB Smart Chain, Fantom, Polygon, Arbitrum, Cronos and Optimism.

In practice, TUSD functions primarily as a medium of exchange and settlement asset across trading venues and DeFi. It is widely listed on major centralized exchanges and used as a trading pair and liquidity instrument in DeFi pools (for example Curve), OTC desks and institutional flows. Token supply is uncapped and elastic: new TUSD tokens are minted when USD deposits are received by custodians and burned on redemption. Circulating supply has grown substantially since launch (historic snapshots show hundreds of millions to multiple billions of tokens at various times), reflecting demand for USD‑pegged liquidity across markets. Market metrics in the provided sources indicate a circulating supply in the region of ~494.51M TUSD and market capitalization near $492M at the cited snapshot.

Governance and operational control remain largely off‑chain and company‑driven through TrustToken / Archblock and trusted custodial partners. There is no on‑chain DAO governance described in the provided materials; decisions relating to custody, attestations and operational integrations are executed by the issuer and custodians. TUSD’s strengths include early adoption of live attestations and the Chainlink PoR integration, broad multi‑chain availability and deep exchange liquidity. However, recent years (2023–2025) produced material operational and legal stress: depegging episodes, custody disputes, alleged misappropriation of reserve assets and court freezes (including a high‑value Dubai court freeze referenced in late 2025). These events have introduced counterparty, legal and redemption risk that materially affects market confidence and underscores the trade‑off between on‑chain transparency and reliance on off‑chain custodians. The near‑term outlook for TUSD depends on legal resolutions, restoration of transparent custody arrangements and continued attestations to restore confidence across exchanges and institutional users.

Links
- Website: https://tusd.io/
- Whitepaper: N/A
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore