Stable Tech is the company behind the Tezos stablecoin USDtz. Recently Venture Studio Draper-Goren-Holm announced that they made an investment in Stable Tech. Draper-Goren-Holm is a blockchain venture studio and fund, created by Tim Draper, Alon Goren, and Josef Holm with a focus on incubating and accelerating the best early-stage startups from around the world. Tim Draper is a billionaire who has made a fortune as venture capital investor and is known for early investments in Hotmail, Skype, Tesla, SpaceX, AngelList, SolarCity, Ring, Twitter, DocuSign, Coinbase, Robinhood and Twitch.
The newly announced Trustee Network will be a governance network for all Stable Tech DeFi applications. The governance token will be called "Trustee network tokens" (TRU) and the supply will be hard capped from the moment the tokens will be launched.
TRU token will be more than a governance token. Anyone who owns TRU token, will receive tokens from all future DeFi applications that will be launched by Stable Tech. Whenever a new DeFi application is launched, TRU tokenholders will receive "a 1-1 proportional amount of each governance token's genesis supply" of that DeFi platform.
Tezex and TezFin
Stable Tech is in development for close to two years now and works on several Tezos-based applications. Two examples are the exchange "TEZEX" which aims to be trading a wide variety of stable coins (Dollar, Euro, BTC, ETH, Gold, and the TEZET token (TZX). Stable Tech is also working on an on-chain savings and loan platform "TezFin". Through TezFin "you'll be able to borrow Tez (XTZ), USD Tez (USDtz), BTC Tez (BTCtz), and other Tezos-tokens at a floating interest-rate APY, under bond-terms that are blockchain-enforced." You will also be able to earn and collect interest by supplying tokens to TezFin. TezFin will enable you to simultaneously earn staking rewards on the tokens you supply. "Your tokens will, of course, be staked across a distributed pool of independent and trusted bakers."
Official announcements
All official announcements will be made from the website https://trustee.network/. So if you see any announcement that you want to follow up, make sure you check the authenticity of the announcement on https://trustee.network/ to avoid scams.
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