TronDAO increases its reserve pool liquidity injections to support its new stablecoin, USDD. Since its introduction, it appears that its collateral rate has climbed by over 60%.
TronDAO’s collateral rate reaches a new record with another $300 million in USDC
TronDAO contributed another amount of liquidity to its USDD reserves, according to an official notice made on its Twitter account. The reserves pool received a total of $300 million in USD Coin (USDC) equivalent.
Following this transaction, the collateral rate (the proportion of a stablecoin’s liquid supply to its reserves) surpassed the 300 percent mark.
USDD developers claimed that the stablecoin went online on June 5, 2022, with a collateral rate of 200 percent. Its documentation ensures a collateral rate of at least 130 percent.
In addition, despite the USD depreciation, the APY on the USDD/USDT pair in the Sun.io protocol has nearly hit 50%. This is over 150 percent more than Anchor Protocol supplied before to its demise.
Despite significant liquidity injections, the USD is remains de-pegged
However, despite this enhanced liquidity injection frenzy, the USDD peg to the price of the US Dollar has yet to be recovered. Its price has risen from $0.95 to $0.977 in the last two days.
For the fifth day in a row, H.E. Justin Sun and TronDAO have defended the USDD concept against attacks. Only eight days after its mainnet launch, the stablecoin was de-pegged on June 13, 2022.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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