Tron’s new algorithmic stablecoin USDD has been launched.
According to a statement by a company spokesperson, Tron’s new algorithmic stablecoin USDD has been officially launched on the network. Similar to Terra’s stablecoin UST, USDD will trade between Tron’s TRX and USDD, keeping the price stable to the US dollar. Again similar to Terra, Tron plans to create a $10 billion reserve with Bitcoin and other crypto assets.
USDD will also appear on Ethereum and BNB Chain. Tron founder Justin Sun used the following statements in a statement to The Block:
“We need to make stablecoins as decentralized as Bitcoin so that no one can touch them. I believe that in the next five to ten years, crypto will become stable with decentralized stablecoins.”
The launch tracks the market cap of Terra’s UST in excess of $18 billion and Near’s own stablecoin, USDN, which it launched in recent weeks.
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