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Is USDD headed for the same systemic problems that brought UST down
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The world has barely recovered from the UST stablecoin crash and yet another similar threat is already on the horizon. This time in the form of the USDD stablecoin that was launched in May by the Tron DAO.
Tron recently boasted that USDD is now over-collateralized by 200% in an attempt to fortify its dollar peg. However, critics were quick to note that USDD’s approach is quite similar to what Terra did with UST. The criticism intensified after Tron founder Justin Sun noted that the Tron DAO reserve used 100 million USDT from its reserve to purchase more TRX and BTC reserves.
<p lang=«en» dir=«ltr» xml:lang=«en»>.@trondaoreserve moved #USDT reserve to purchase more #BTC and #TRX as reserve. https://t.co/mkK2aEAR2n— H.E. Justin Sun
Read more on ambcrypto.comAbout this in other media
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Tron DAO Reserve to Deploy Another USDC 500M to Protect Stablecoin as Depeg Extends cryptonews.com /2 years ago
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