Justin Sun, the founder of TRON, announced on Twitter that the TRON DAO Reserve had released a decentralized stablecoin called USDD.
So far, it has been on Sunswap, Sun.io, Curve, Uniswap, Ellipsis, Pancakeswap, Kyberswap, etc., with an initial supply of 100 million. Through the BTTC cross-chain protocol, the number of Ethereum and BSC coins in circulation is close to 20 million on both chains.
USDD is Now Up and Running
On April 21, Justin wrote in an open letter that TRON DAO, the world’s largest decentralized autonomous organization, will work with significant blockchain players to set up the TRON DAO Reserve and issue the decentralized stablecoin USDD. Furthermore, it will make finance accessible to everyone by using math and algorithms.
USDD is a stablecoin based on a decentralized algorithm. It was from the TRON DAO Reserve and other top blockchain institutions. The USDD protocol runs on the TRON network and links to Ethereum and BNBChain through the BTTC cross-chain protocol. In the future, it will also be functional on more blockchains. Also, USDD tied to the US Dollar (USD) through TRX, and its price stays stable. It gives users access to a sound, decentralized digital dollar system that gives them financial freedom. The USDD website is now up and running at http://usd.io. The address for the contract will depend on what is on the official website.
USDD vs. Libra
A person who works in the industry says that USDD’s plan to make finance available to everyone is another innovative idea in digital finance after the Libra plan in 2019. Libra tried to launch stablecoins to get ahead in digital finance. It used blockchain technologies. But compared to Bitcoin, Ethereum, and other cryptocurrencies, Libra still had room for improvement in credit guarantees, asset reserves, and liquidity (supply limit). After a couple of months of operation, the Libra Association was dissolved, consisting of 27 founding members.
Public sources also say that USDD will first issue on the TRON network in the form of TRC. The TRON DAO Reserve will give out USDD and manage its reserves openly and clearly to everyone. Indeed, the flexible monetary policy and minting system of USDD take care of short-term price changes and cyclical price risks. The USDD protocol is committed to giving consumers the stable digital currencies they want, so they can use USDD to pay for things online. The USDD protocol will connect to the USD, the most widely used fiat currency globally. It will make the USDD-USD system stable, decentralized, and hard to change.
With trading and settlement strengths, USDD outshines Libra, which is doomed.
First, USDD’s DAO system provides value stability. TRON is the world’s largest stablecoin network, hosting $55 billion in stablecoins and financial assets and settling $4 trillion. The TRON DAO Reserve protects the blockchain sector and crypto market, mitigates long-term downturns, and prevents panic trading during financial crises. The TRON DAO Reserve will stabilize the blockchain industry’s financial needs and reduce systemic risks.