PYR meaning in Cryptocurrency ?

Answer:

What Is Vulcan Forged (PYR)?

Vulcan Forged is a blockchain game studio and NFT marketplace. They are the makers of VulcanVerse.

PYR is the native utility token that is used for:

Fees for marketplace settlementStaking in VulcanVerse land and other assetsUpgrading and sustaining game asset levelsPlay-to-earn rewardsAccess to our game developers and NFT dapp incubation program

Vulcan Forged Platforms and games include:

*VulcanVerse, a Grece-Roman fantasy metaverse made up of 10,000 plots of land * Anvil, a crypto-less and gas-free NFT engine for easy game and dApp onboarding * Vulcan Market, a gas free NFT marketplace for all Vulcan Forged games * Berserk, an NFT online TGG * Frenzy, a create-your-own tournament platform with PYR as it’s reward token.

How Many PYR Coins Are There in Circulation?

There are 50 million PYR tokens created. 20 million of them are max circulation. Another 10 million will be used for play-to-earn pools and staking, using the off-chain value LAVA to determine your p

Who Are the Team at Vulcan Forged?

Vulcan Forged consists of 30 core members spread out over Greece, UK and Ukraine. Their main office is located in Athens, Greece, with 9 in-house and led by CEO Jamie Thomson. Core team members are available at vulcanverse.com/team.html

Where Can I Buy PYR?

For now, PYR is available at https://info.uniswap.org/token/0x9534ad65fb398e27ac8f4251dae1780b989d136e (Uniswap) and https://info.quickswap.exchange/token/0x348e62131fce2f4e0d5ead3fe1719bc039b380a9 (Quickswap).

What Is TrueUSD (TUSD)?

TrueUSD is a U.S. dollar stablecoin pegged to USD at 1:1. First launched to a limited investor base in January 2018, TrueUSD has since grown to incorporate almost $400 million of backed tokens as of October 2020.

TrueUSD is one of a number of cryptocurrency stablecoins administered by TrustToken, a platform for tokenizing real-world assets.

As with other stablecoins, TrueUSD aims to facilitate increased liquidity and provide cryptocurrency traders and general users with a nonvolatile asset relative to free-floating tokens such as Bitcoin (BTC).

As of October 2020, TUSD is the 38th largest cryptocurrency by market cap.

Who Are the Founders of TrueUSD?

TrueUSD is a stablecoin launched by parent company TrustToken, whose co-founder and CEO is Rafael Cosman.

Cosman has a lifelong attachment to cryptography, studying it along with artificial intelligence (AI) before working at both Google Brain and software company Palantir. He left Google to create TrustToken in 2017.

Cosman has stated that TrueUSD was always just the start of TrustToken’s product line, involving relatively little work in return for creating a high-impact asset.

At the time of launch, he noted that regular auditing of the stablecoin formed an important focus for the company, giving investors peace of mind at a time when many cryptoassets were seeing heavy volatility in the wake of the initial coin offering (ICO) phenomenon.

What Makes TrueUSD Unique?

TrueUSD aims to balance stability and utility — the main use cases of any stablecoin — with security in the form of regular attestations.

From its launch onwards, parent company TrustToken has sought to underscore the importance of independent verification of the stablecoin’s provenance. As such, the stablecoin’s appeal is geared towards larger investors looking to reduce risk, in addition to smaller private traders.

TrustToken describes TUSD as “the first regulated stablecoin fully backed by the US Dollar.”

TrueUSD is part of an ever-expanding stablecoin market, which now includes a large number of USD-backed assets. Tether (USDT) remains by far the largest, with a market cap of $15 billion as of October 2020, compared to TUSD’s $382 million.

TrustToken has entered various corporate partnerships as part of its business activities, including options for TUSD holders to increase annualized passive income returns.

Related Pages:

Learn more about Tether here.

Learn more about USD Coin here.

New to cryptocurrency? Find all the information you need with Alexandria, CoinMarketCap’s dedicated education resource.

How Many TrueUSD (TUSD) Coins Are There in Circulation?

There was around 381.9 million TUSD in circulation as of October 2020. Given its status as a stablecoin, the supply is uncapped, and will continue to expand according to demand.

There are two incarnations of TUSD available: an ERC-20 token on Ethereum and another, also known as TUSDB, a BEP-2 token on Binance Chain.

TrueUSD’s equivalent redeemability for USD is maintained via partnerships with banks and fiduciary entities.

How Is the TrueUSD Network Secured?

TrustToken aims to deliver maximum transparency using tools such as real-time auditing of TUSD’s backing and reliability.

Beyond trusting the validity of its USD peg, any security issues relate to those which affect all ERC-20 standard tokens. Transactions, for example, can suffer from abnormally high fees if gas prices on the Ethereum blockchain spike.

Where Can You Buy TrueUSD (TUSD)?

As one of the largest USD stablecoins, TUSD is freely available on major exchanges, with pairs for cryptocurrencies and other stablecoins available.

Among the largest volume currently belongs to Binance and DeFi automated market maker Curve.

New to crypto? Read our easy guide to buying Bitcoin and other cryptocurrencies."

reference

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