Tag: USDD

The algorithmic stablecoin USDD, backed by Tron’s founder Justin Sun and managed by Tron’s DAO, fell to $0.9695 on Dec. 12, the lowest since June 22. The algorithmic decentralized stablecoin lost its dollar peg last month as the collapse of FTX shook investor confidence in crypto assets. USDD, the Tron network’s algorithmic decentralized stablecoin, struggling…

Launched in 2018, Tron is now DeFi’s third-largest blockchain in terms of total value locked (TVL). Tron’s DeFi activity saw a sharp spike after the launch of its algorithmic stablecoin USDD, promising more than 20% per year returns. Currently, the TVL across Tron’s nine different apps stands at $5.9 billion, up 44% over the past…

Tron founder Justin Sun kept his promise and introduced the project’s own algorithmic stablecoin, designated USDD. The unique thing about the new token is that it is backed entirely by cryptocurrency. There seems to be a new trend going around. The moment Terra launched its UST stablecoin (having issued over $18 billion), the Tron blockchain…

Tron, an Ethereum competitor blockchain, announced the launch of USDD, an algorithmic stablecoin inspired by the success of Terra’s UST, which has topped $18 billion in total issuance. USDD has launched on TRON, BNB Chain, and Ethereum blockchains. The team behind the stablecoin has promised “zero-risk” returns of about 30% APY, and users currently need…