Compound

This proposal adds TrueUSD as a supported asset.

TUSD is a 1:1 US dollar backed stablecoin. TUSD is the only stablecoin that has real-time, 24/7 attestations from Armanino, a top US accounting firm, providing assurance that the token is fully collateralized by US Dollars.

Market Parameters

This proposal sets TUSD with a collateral factor of 0%, reserve factor of 7.5%, and unlimited borrow cap. These parameters follow the values set by USDT, with 0% collateral factor. The collateral factor can be proposed to be higher with a future proposal.

This proposal updates the Compound price feed to peg TUSD to $1, similarly to USDC. By using a peg, weakness in the underlying asset will not change collateral requirements for users borrowing TUSD.

The interest rate model for TrueUSD relies on the same model as cUSDT and cDAI, JumpRateModelV2.

Contracts

cTUSD is an upgradeable cToken contract that has been modified to accommodate potential transfer fees in the underlying token.

The cToken contract has been reviewed by OpenZeppelin and the Compound team. The cTUSD contract has been reviewed by the TrustToken and Ethworks teams.

The case for why TUSD benefits compound has been discussed by the compound community here