TRON (TRX) has secured its decentralized algorithmic stablecoin USDD against a TerraUSD (UST)-like collapse by collateralizing it with TRON DAO reserves.
TRONFollowing the collapse of Terra’s algorithmic stablecoin UST June 5th on, May stablecoin launched in USDD, TRON DAO reserves announced that it would support
TRON founder Justin Sun, Monday, June 6 with his day USDDof now TRON DAOof Bitcoin (BTC), Tron (TRX) and Tether (USDT) confirmed that it is backed by its reserves.
In a previous statement that they want to upgrade USDD to a hybrid model saying Justin Sun He made the following statements on the subject:
That was in the plan, but Terra/Luna definitely stepped up and our team made it a priority. We want USDD to be over-collateralized, which will make market participants more comfortable using us in the future.
The team announced yesterday minimum 130% coverage promised and about the rate of guarantee TRON DAOHe said that real-time updates will be published on the ‘s website. Originally designed to have limited reserves and be algorithmically pegged to the dollar USDDCurrently, according to TRON DAO data 226%with a ratio ofoversecured” is in the situation.
Reserves backing USDD, according to a TRON spokesperson one0.500 Bitcoin (BTC), 240 million USDT and 1.9 billion TRXin a burning contract as well as 8.29 billion TRXContains .
