Just After terra luna UST Collapse, Tron Founder Justin Sun launched $USDD Which is based On Tron. $USDD Claims to be the first over collateralized Decentralized Stablecoin which is Gaurranted To Maintain 130% collateral Atleast.
$USDD Starts Deppeging Today as Crypto Market Stumbles with bitcoin Going as Low as $23,968. Ethereum, on the other hand taking a deeper hit.
Tron Community Expressed Panic As $USDD Depeg Could Trigger “$UST Like Spiral”. To prevent Any Further Depeg. Tron Dao Reserve Tweeted
To which Tron Founder Justin Sun Retweeted –
$USDD Assures Collateral to Be more than 280%
$USDD Tweeted – “🤑The #USDD real-time collateral ratio is nearly 300% now!
The stability and security of $USDD are ensured by the over-collateralization of multiple mainstream cryptocurrencies.
Currently, the 280%+ collateral ratio offers #USDD a very strong safety net. 💪”
Is $USDD the $UST 2.0 ?
Conceptually, $UST and $USDD are fundamentally Similar with few Differences such as Higher APY than $UST.
$USDD Offer Higher API than $UST did Before the Collapse. $USDD is Over collateralized By atleast 30% As Advertised by Tron. If $USDD is Over Collateralized, Situations like “Depegging” shouldn’t Occur in the First Place
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