USDD Algorithmic Stablecoin Launched on Tron Network
On May 5, the algorithmic stablecoin USDD was released and put into circulation on the Tron network. The asset is also available on Ethereum and BNB Chain via the BTTC cross-chain protocol.
The Tron team announced the launch of the stablecoin at the end of April. The coin is backed by the network’s native token TRX and presumably $10B in liquid assets.
Against this background, Tron announced that the total value of funds blocked in DeFi blockchain projects (TVL) has reached a record high of more than $10B.
#TRON #usdd #stablecoin
On May 5, the algorithmic stablecoin USDD was released and put into circulation on the Tron network. The asset is also available on Ethereum and BNB Chain via the BTTC cross-chain protocol.
The Tron team announced the launch of the stablecoin at the end of April. The coin is backed by the network’s native token TRX and presumably $10B in liquid assets.
Against this background, Tron announced that the total value of funds blocked in DeFi blockchain projects (TVL) has reached a record high of more than $10B.
#TRON #usdd #stablecoin
TRON DAO Reserve buys $61M worth of BTC and TRX tokens to secure USDD
The TRON DAO Reserve has acquired BTC and TRON tokens to secure the USDD algorithmic stablecoin. The organization bought 500 BTC at an average price of $31K worth more than $15.5M.
The head of the Tron Foundation, Justin Sun, announced the launch of USDD in April, it took place on May 5th. According to Sun, TRON DAO Reserve will set a “risk-free” annual interest rate of 30% for the return on the asset.
USDD, according to the algorithm of its work, repeats the UST stablecoin model.
#tron #trx #usdd #ust
The TRON DAO Reserve has acquired BTC and TRON tokens to secure the USDD algorithmic stablecoin. The organization bought 500 BTC at an average price of $31K worth more than $15.5M.
The head of the Tron Foundation, Justin Sun, announced the launch of USDD in April, it took place on May 5th. According to Sun, TRON DAO Reserve will set a “risk-free” annual interest rate of 30% for the return on the asset.
USDD, according to the algorithm of its work, repeats the UST stablecoin model.
#tron #trx #usdd #ust
Tron will not abandon USDD
The Tron ecosystem won't abandon the algorithmic stablecoin USDD despite the collapse of UST and LUNA. It was reported by CoinDesk. According to project founder Justin Sun, the Terraform Labs product was ruined by too rapid growth and a lack of sufficient funds in the reserve fund.
Sun believes that the Terra ecosystem didn't collapse because the concept of algorithmic stablecoins isn't viable. He explained that LUNA was heavily leveraged. In addition, it had grown to an "impressive market capitalization" too quickly.
In May, TRON DAO Reserve started buying BTC and TRX to back USDD. Sun said that the DAO also acquired the "classic" stablecoins — USDT, USDC, and TUSD. In his opinion, the presence of these assets will quickly provide the liquidity necessary for the stability of the USDD in a volatile market.
#FUJI_news #tron #usdd #stablecoin
The Tron ecosystem won't abandon the algorithmic stablecoin USDD despite the collapse of UST and LUNA. It was reported by CoinDesk. According to project founder Justin Sun, the Terraform Labs product was ruined by too rapid growth and a lack of sufficient funds in the reserve fund.
Sun believes that the Terra ecosystem didn't collapse because the concept of algorithmic stablecoins isn't viable. He explained that LUNA was heavily leveraged. In addition, it had grown to an "impressive market capitalization" too quickly.
In May, TRON DAO Reserve started buying BTC and TRX to back USDD. Sun said that the DAO also acquired the "classic" stablecoins — USDT, USDC, and TUSD. In his opinion, the presence of these assets will quickly provide the liquidity necessary for the stability of the USDD in a volatile market.
#FUJI_news #tron #usdd #stablecoin
Tron Will Withdraw $2.5B TRX From Binance To Ensure USDD Sustainability
TRON DAO Reserve announced that it will withdraw $2.5B worth of TRX from the Binance platform to protect the blockchain industry and the crypto market. It was reported on the company’s Twitter.
Previously, the DAO transferred 100M USDT to Binance to buy TRX. The transaction was part of an effort to keep the USDD algorithmic stablecoin stable.
On June 13, amid the volatility of the crypto market, USDD lost parity against the US dollar. The stablecoin has not been able to return the link to the anchor asset for the third day.
#fuji_news #crypto #tron
TRON DAO Reserve announced that it will withdraw $2.5B worth of TRX from the Binance platform to protect the blockchain industry and the crypto market. It was reported on the company’s Twitter.
Previously, the DAO transferred 100M USDT to Binance to buy TRX. The transaction was part of an effort to keep the USDD algorithmic stablecoin stable.
On June 13, amid the volatility of the crypto market, USDD lost parity against the US dollar. The stablecoin has not been able to return the link to the anchor asset for the third day.
#fuji_news #crypto #tron