The founder of TRON announced on Twitter that the TRON DAO Reserve has rolled out a decentralized stablecoin named USDD
It was announced on Twitter by Justin Sun, who is the founder of TRON, that the TRON DAO Reserve had created a decentralized stablecoin called USDD. It has been listed so far on Sunswap and other exchanges. It has a total supply of one hundred million.
There are now almost twenty million BSC and Ethereum coins in circulation, thanks to the cross-chain protocol BTTC.
TRON Launches Stablecoin USDD
USDD is a cryptocurrency made by the TRON DAO Reserve. It has a very stable price and can be used for many different things.
Dollars are pegged at 1:1 to the US dollar, which means that no matter how the market moves, the USDD protocol will keep USDD stable against the US dollar through proper algorithms in a decentralized way. It’s based on TRON.
USDD, like other TRC-20 tokens, can be traded without the help of a broker. It all comes down to the smart contracts on the TRON network. USDD is better at being a stablecoin because it doesn’t have to be controlled by anyone or anything.
People who own USDD, which is a fast, low-cost crypto asset with a lot of supply and that can be used for cross-border transactions, get to enjoy all the benefits of blockchain technology without having to worry about it fluctuating.
Blockchain Is Now Ushering Into Stablecoin 3.0 Era
The TRON-based decentralized stablecoin USDD was created with the goal of building a new financial system on the blockchain. Its permissions are controlled by the TRON DAO Reserve, which serves as its early guardian.
Also, the TRON DAO Reserve keeps the price of USDD stable and decentralized by collateralizing this cryptocurrency with reserves.
This group wants to protect the whole blockchain industry and the crypto market, stop panic trading when there are financial crises, and avoid severe and long-term economic downturns.
In order to keep stablecoin exchange rates on TRON and other blockchains the same, it sets risk-free interest rates for stablecoins and makes sure there is enough money in the market through liquidity.
Also, it wants to write and implement monetary and exchange rate policies, act as a lender of last resort to reduce systemic risks and keep the financial market safe and stable.
Justin Sun, the founder of TRON, tweeted an open letter on April 21 saying that the TRON DAO Reserve, at its start, would hold the $10 billion worth of highly liquid assets raised from the people who started the blockchain industry as an early-stage reserve.
All of this money would go to the TRON DAO Reserve in six to twelve months. The Reserve will keep bringing in more liquidity assets so that it can do a better job of being a decentralized group.
World’s Largest Stablecoin Network
TRON has grown a lot in four years. It now has more than 88 million users and 3 billion transactions in its ecosystem. There are now more TRC-20 USDT in circulation than there are ERC-20 USDT.
This makes TRON the world’s largest stablecoin network, with over $55 billion worth of financial assets, including on-chain stablecoins. It has also settled and cleared $4 trillion worth of assets.
It was in December 2021 that the TRON network became completely decentralized and was restructured into the largest decentralized autonomous organization (DAO) in the world, the TRON DAO group.
Justin Sun Is Grenada Ambassador, Permanent Representative To WTO
Grenada officially named Justin Sun as its Ambassador and Permanent Representative to the WTO at the end of 2021. He was able to represent Grenada at WTO meetings during his term.
Justin said that he would work to make sure that cryptocurrencies and sovereign states work together to build a new financial system that is safe, efficient, and inclusive.
With his experience in the digital currency field, he would also work with other people in the post-pandemic world to find a way to solve new problems with digital transformation in the post-pandemic era.
