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On the Tron network will launch an algorithmic Stablecoin USDD
On May 5, TRON developers will launch the USDD algorithmic stabilcoin with the TRX National Token and Equivalent of $ 10 billion in highly liquid assets. This was stated by the head of Tron Foundation Justin San.
USDD in the algorithm of its work repeats the tested Terra Labs model of the stabelcoin UST model. The structure of reserves is not disclosed.
“When the USDD price drops below $ 1, users and arbitrators will be able to send to the 1 USDD system and get $ 1 equivalent in TRX. When the USDD price exceeds $ 1, an appropriate conversion of the equivalent of $ 1 in TRX in 1 USDD will become appropriate. Regardless of the volatility of the market, the protocol will maintain the stability of the USDD binding to $ 1 https://gagarin.news/ in a ratio of 1: 1 decentralized, using algorithms ”, – explained San.
In addition to Tron, the asset will be available in Ethereum and BNB Chain through the Bittorrent Chain cross-bridge.
Tron Dao will take care. According to San, the organization will provide annual USDD yield at 30%.
Cooperation is supposed with decentralized and centralized organizations to include a stable coin in their products with the maintenance of a consistent interest policy policy.
San emphasized that USDD will protect private property rights, excluding the possibility of freezing and confiscation.
USDD development involves four phases: one.0 Space, 2.0 ISS, 3.0 moon and 4.0 Mars. Details are not given.
Terraform Labs founder to Kwon spoke in support of USDD.
“Decentralized economies deserve decentralized money – each blockchain will work on decentralized steablecoins”, He predicted.
. @Trondao is launching an algorithmic stablecoin with And-Burn Mechanics Called $ USDD-Mint and Burn TRX, Redeem AGainSt TRX
Decentralized economies deserv decentralized money – EVERY BLOCKHAIN Will Run On Dec. Stables Soon
Recall that in March 2021 to Kvon, he accepted the call of users by $ 11 million, which doubted the stability of the price of LUNA, which ensures stability UST.
In April UST, Terra went around Binance USD on market capitalization.
Previously, speculations on the topic of NEAR launch of algorithmic stabelcoin USN are launched on the NEar network.
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