USDD

Halal Rating :
Uncomfortable
Last Price $1.0 Last updated:
Rank 88
1D Change 0.13 %
Market Cap $742.2m
Circulating supply 742,292,894
Maximum supply None

Crypto Overview

Categories
  • Stablecoin
  • Algorithmic Stablecoin
  • Ethereum Ecosystem
  • Near Protocol Ecosystem
  • Arbitrum Ecosystem
  • USD Stablecoin
  • Tron20 Ecosystem

Overview

USDD is an algorithmic stablecoin launched on the TRON blockchain in May 2022, managed by the TRON DAO Reserve. It aims to maintain a 1:1 peg with the US Dollar through a combination of algorithmic mechanisms and over-collateralization.

Purpose and Utility

The primary intended purpose of USDD is to serve as a decentralized stablecoin within the TRON ecosystem, facilitating transactions and trading. It is designed to maintain price stability through a collateral-backed system rather than relying purely on algorithmic mechanisms.

Business Model

USDD operates through an over-collateralization model where the token is backed by various cryptocurrencies including TRX, BTC, and USDT. The TRON DAO Reserve maintains a collateral ratio typically above 200% to ensure stability.

Real-World Adoption

USDD has achieved significant adoption within the TRON ecosystem, being used primarily for trading and as a stable store of value. It is integrated into various DeFi protocols on TRON and has partnerships with multiple exchanges.

Platform Development

The TRON DAO Reserve actively manages and develops the USDD ecosystem, with regular updates to the protocol and transparency reports regarding collateralization ratios and reserve assets.

Token Distribution

USDD is minted and burned based on market demand and collateralization requirements. The process is managed by the TRON DAO Reserve, with no pre-mine or initial token distribution to founders.

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