HE Justin Sun, Founder of TRON, has launched an all-new stablecoin on the TRON blockchain, USDD (or Decentralised USD).
TRON DAO will partner with other blockchain industry leaders to establish USDD. It will leverage the power of mathematics and algorithms to achieve the overarching goal of financial freedom for all.
At the start, USDD will be issued as a TRC token on the TRON network. The TRON DAO Reserve will serve as a transparent mechanism to manage the reserves backing the USDD.
USDD will not rely on any centraliaed institutions for redemption, management, and storage. Instead, it will achieve full on-chain decentraliaation. USDD will be pegged to the underlying asset, TRX, and issued in a decentraliaed manner.
When USDD’s price is lower than 1 USD, users and arbitrageurs can send 1 USDD to the system and receive 1 USD worth of TRX. When USDD’s price is higher than 1 USD, users and arbitrageurs can send 1 USD worth of TRX to the decentraliaed system and receive 1 USDD. Regardless of market volatility, the USDD protocol will keep USDD stable at 1:1 against the US dollar via proper algorithms in a decentraliaed manner.
