Its seems I just discovered this USDT alternative.
When was this released?
Around january this year.
@OP current circulating supply is 9.5 million which means that it is much lower than Tether. Although prices have fluctuated probably more than tether in the same period of time because of this small market cap.
The total supply is unlimited. As long as people are still in demand on the coin, they can send USD to their "trust company" and get more TrueUSD into circulation.
These stablecoins are ultimately based on trust, still, since it's still a centralized institution holding the funds. But it's definitely an alternative to Tether that I would personally use if its market cap was larger and was traded on more exchanges.