The TRON DAO Reserve rolled out a decentralized algorithmic stablecoin named USDD (Decentralized USD), which has already been listed on SunSwap, Sun.io, Curve, Uniswap, Ellipsis, PancakeSwap, KyberSwap, and others. The initial total supply just reached around $127 million on TRON, and $18 million on Ethereum and $20 million on BNB Chain through the cross-chain protocol BitTorrent Chain (BTTC). (As of May 5th 2022.)
USDD is circulating as a decentralized TRC token on the TRON blockchain. The TRON DAO Reserve transparently oversees the issuance and administration of reserves. USDD is algorithmically pegged to the U.S. dollar to achieve the overarching goal of financial freedom for everyone. As a TRC-20 standard token, USDD can trade without brokers and depends solely on the TRON network.
USDD was created to develop a modern decentralized financial system on the blockchain. The TRON DAO Reserve strives to safeguard the global blockchain industry and crypto market, prevent panic trading caused by extreme market volatility, and mitigate severe and long-term economic downturns.
The TRON DAO Reserve aims to stabilize the exchange rates of centralized and decentralized stablecoins on TRON and other blockchains by benchmarking interest rates and guiding the market through liquidity provisions. It intends to formulate and implement monetary and exchange rate policies, play the role of a lender of last resort to market participants, and maintain reserve assets of various blockchains and blockchain-powered financial institutions in order to minimize systemic risks and contribute to the stability of the overall market.
On Thursday, May 5th, the TRON DAO Reserve announced Alameda Research as its first Member and Whitelisted Institution. Alameda Research is a leading principal trading firm. They use internally developed technology and the team’s deep crypto expertise to trade thousands of digital asset products, including all major coins, altcoins, and their derivatives. They have built a globally focused team and infrastructure with the ability to trade on all major exchanges and markets since 2017.
This appointment lists Alameda Research as an approved collaborator to the Reserve, granting them the right to mint and the right to burn USDD. As a Member and Whitelisted Institution, Alameda Research will serve as an advisor and make recommendations to improve, enhance and provide general support to the USDD network. They will prepare for, attend, and be fully engaged in all Reserve membership meetings. They will also support the USDD community and raise awareness surrounding the USDD network and the use of USDD in general.
The TRON DAO Reserve website is now live, and historical token issuance records are published here.
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