TRON DAO USDD continues to pour a huge amount of money being used to hold the peg for the algorithmic stablecoin (USDD) of this ecosystem
Tron DAO save the USDD peg
June 14 evening, TRON DAO Reserve claims to have been “injected” with 500 million USDC to back USDD after about 700 million USDC was poured in on June 13.
After using 200 million USDC to buy TRX on June 13, this fund’s total amount of stablecoins is 1 billion USDC and 140 million USDC. Adding up to 14k BTC, the TRON DAO Reserve fund (excluding TRX) is about $1.4 billion – a margin of more than 200% for the current USDD supply of over 723 million USDD.
Even so, at the time of update, stablecoin USDD today was still depeg to $0.977, before recovering to $0.98.
USDD can be considered a “copy” of the LUNA-UST model when using TRX burning to generate USDD, creating a margin fund in other cryptocurrencies for USDD, and supporting APY 30 interest. % when sending USDD in protocols supported by the project.
However, during the crypto market dump since the weekend, USDD has started to depeg (slide from the $1 value mark), forcing TRON founder Justin Sun and TRON DAO Reserve hedge fund to have to launched many “relief” moves, namely deploying 2 billion USD to take the necessary actions.
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