TUSD added as Maker Collateral, Removed Soon – Blockchain Technology – Altcoin Buzz

TUSD added as a Maker (MKR) Collateral, removed soon

Maker (MKR) had recently approved stablecoins TUSD (TrueUSD) and USDC-B (a USDC token variant with different risk parameters) as new collateral assets in the Maker Protocol. Users could use both tokens to open Maker Vaults to generate Dai. However, soon after, Maker made TUSD temporarily unavailable.

The new tokens act as an emergency credit facility during times when keeper liquidity is overwhelmed (such as busy liquidation periods with large amounts of collateral being auctioned). The USDC-B collateral type will remain unused unless there is a severe and acute liquidity issue in the Dai markets. Users can connect their wallets to Oasis Borrow and lock the tokens in a Maker Vault to generate Dai.

However, Maker had to take a step back. TUSD underwent 3 contract upgrades. This triggered Maker’s safety measures that no unaudited external code can interact with the Maker Protocol.  Maker plans to bring back TUSD after code is upgraded and audited.