Fiat / issuer reservesRank #10
TUSDTrueUSD
Techteryx Ltd.
- Market cap
- $481M
- Circulating supply
- 482.5M
- Networks
- 4
EIP/ERC standards & compliance
Full TUSD profile: ERC-20, permit, proxy patterns, cross-chain, flash loans, and compliance EIPs — with implementation notes and verified contract context.
Overview
One of the earliest regulated stablecoins (2018). Acquired by Techteryx Ltd. (BVI) in 2020, TUSD now presents a mixed diligence picture: the issuer site currently markets daily reserve attestations by Moore Hong Kong, while adverse SEC action against former operators and later reserve-dispute reporting raise serious questions about historical transparency and reserve handling.
Supply by chain
Market cap
$481M
Circulating supply
482.5M
Supply chains
10
| Chain | Supply | Market cap | Share |
|---|---|---|---|
| Ethereum | 312.1M | $311M | 64.7% |
| Tron | 167.8M | $167M | 34.8% |
| BSC | 875.1K | $871K | 0.18% |
| Avalanche | 842.2K | $839K | 0.17% |
| Fantom | 464.5K | $463K | 0.10% |
| Polygon | 181.6K | $181K | 0.04% |
| Arbitrum | 164.2K | $163K | 0.03% |
| Syscoin | 2.0K | $2K | 0.00% |
| Near | 508 | $505 | 0.00% |
| Current circulating supply by chain from DeFiLlama. Small supply footprints are grouped after the top 12 chains and may include bridged or non-curated deployments. | |||
Features
Engineering-oriented breakdown of capabilities: standards, who they matter for, integration rationale, per-feature risks, and vetted external references (specs, docs, verified source).
Primary Ethereum verified source: Etherscan
| Feature | Standards | Audience | Why it matters | Risk / caveat | References |
|---|---|---|---|---|---|
Daily reserve attestations compliance | — | Corporate | Issuer-published reserve attestations are useful for diligence workflows, but integrators should verify scope, cadence, and methodology rather than assuming real-time on-chain proof. | Attestation provider or methodology changes can break monitoring assumptions. | |
Chainlink Proof of Reserve compliance |
| Both | PoR feeds let contracts condition logic on reserve data — integrate via Chainlink interfaces. | Feed staleness and heartbeat matter for dependent protocols. | |
Multi-bank escrow compliance | — | Corporate | Diversifies banking counterparty risk off-chain — legal structure matters for treasury users. | Bank failure or access freezes still possible; not modeled on-chain. | |
Asset protection freeze compliance |
| Corporate | Issuer freeze function — same integration caveats as other regulated stables. | User funds can become immovable without on-chain recourse. |
EIP / ERC support matrix
Standards & compliance support for TUSD. Click an EIP to jump to the global deep-dive section.
| Standard | Status | Notes |
|---|---|---|
| Core | ||
| ERC-20 Fungible token standard | Partial | Still usable as ERC-20 on DEXes but with thinner liquidity and more issuer-specific edge cases than USDC. |
| Signatures & typed data | ||
| EIP-712 Typed structured data signing | Not implemented | No typed-data signing for token operations. |
| EIP-2612 Permit — gasless ERC-20 approval | Not implemented | Extra transaction for many DeFi onboarding flows. |
| EIP-3009 transferWithAuthorization | Not implemented | Relayers cannot use EIP-3009. |
| EIP-1271 Signature validation for smart contracts | Not implemented | Standard EOA-centric flows only for approvals. |
| Upgradeability & proxies | ||
| EIP-1967 Standard proxy storage slots | Partial | Manual verification of implementation address on each chain is required for critical integrations. |
| EIP-1822 UUPS — universal upgradeable proxy | Not implemented | Low direct impact. |
| Vaults & yield | ||
| ERC-4626 Tokenized yield vault standard | Not implemented | Use external protocols for yield. |
| Compliance | ||
| Freeze Address freezing / blacklisting | Implemented | Standard freeze check applies, but counterparty risk around who controls the freeze function is elevated. The controller key's current custodian (Techteryx) should be verified. |
| Seize Fund seizure / clawback | Implemented | Supply tracking must account for wipe events. Same operational risk caveats as the freeze function. |
| Pause Global transfer pause | Implemented | Same DeFi-wide halt risk as other pausable stablecoins, compounded by TUSD's operational instability. |
| Cross-chain | ||
| ERC-7802 Crosschain token interface | Not implemented | Manual bridging required. |
| Flash Loans | ||
| ERC-3156 Flash loans | Not implemented | Use external flash loan providers. |
| Data sourced from verified Etherscan contract source code. Implementations may differ across networks — always verify on the specific chain you integrate with. | ||
Technical notes
- 18 decimals.
- Proxy address 0x0000000000085d4780B73119b644AE5ecd22b376 uses deliberate leading zeros (vanity deployment) — can confuse address parsers.
- Implementation 0xDBC97a631c2fee80417d5d69f32b198c8c39c27e.
- TrueCurrencyWithLegacyAutosweep inheritance chain.
- Deprecated TrueReward feature (per-account interest toggle) — legacy code remains.
- Controller proxy pattern is NOT standard EIP-1967 — proxy detection tooling may mislabel.
- SEC filings and later reserve-dispute reporting describe major historical reserve-handling issues, so current issuer transparency statements should be treated cautiously and re-verified before integration.
Reserves & peg
- Reserves
- Reserve assets are reported through TUSD transparency disclosures; verify current reserve composition and counterparties directly from issuer reports
- Collateral
- Fiat (off-chain)
- Peg mechanism
- Hard 1:1 via trust company redemption
- Auditor
- Moore Hong Kong (daily reserve attestation reports on tusd.io)
Ecosystem
- DeFi integration
- Limited — PancakeSwap (BNB), select DEXes
- Yield
- None
Risk factors
high$456M reserves frozen by Dubai court — Nov 2025highSEC fraud settlement — TrueCoin/TrustToken Sept 2024highArchblock (operator) Chapter 11 bankruptcy Feb 2026highIssuer transparency claims conflict with adverse reportinghighPeg depends on Justin Sun bailout, not reserve backingmediumDeclining exchange support and MiCA delistingmediumS&P Global rated TUSD's peg stability 5/5 (weakest tier) — Nov 2025, citing scarce reserve information and weak governance
Technical references
Official docs
TrueUSD
tusd.io
Verified contract · Ethereum
TrueUSD — TokenController proxy + delegate
0x0000…b376
Block explorers
Networks & contracts
Deployments by chain — primary rows are highlighted. Always verify addresses against issuer docs before mainnet integrations.
| Network | Standard | Upgrade | Contract |
|---|---|---|---|
EthereumPrimary | ERC-20 | Custom | |
BNB ChainSecondary | BEP-20 | Transparent | Highest volume |
TRONSecondary | TRC-20 | — | |
AvalancheSecondary | ERC-20 | Immutable |
Engineering deep dive
Integration notes
TUSD presents a mixed diligence picture: the issuer currently markets daily reserve attestations and PoR visibility, while adverse legal and reserve-dispute reporting has raised serious historical transparency questions. If your integration depends on reserve signals, re-verify the exact feeds, reports, and counterparties you plan to trust.
Liquidity
Secondary liquidity is thinner than top-tier stables; size trades carefully and check venue depth.