USDD is a cryptocurrency issued by the TRON DAO Reserve with a stable price and diverse use cases. It guarantees over-collateralization using various mainstream cryptocurrencies, helps ensure the stability and security of USDD, and consolidates its value as a true settlement currency. In addition, it is a decentralized currency protocol with a stable price that will expand use cases for cryptocurrency in general, making it truly accessible with far-reaching implications for both the blockchain space and the real economy.
The TRON DAO Reverse adopts a mechanism that functions similarly to OMO. Through buying or selling USDD and reserve assets, including TRX, BTC, USDT, and USDC on CEXs or DEXs, it manages to keep USDD’s price stable. The TDR will announce each of its OMO publicly to the market to positively guide the market perception.
The stability of USDD is maintained by the TRON DAO Reserve’s adoption of a series of monetary policies based on market conditions, relying on the TRON DAO Reserve assets. Like all central banks in the world, the TRON DAO Reserve will adopt a series of monetary policies to maintain USDD price stability.
The USDD issuance process is the process of converting the TRC-10 USDD version in the authorization contract into the TRC-20 USDD version and releasing it to users. The USDD protocol is a decentralized stablecoin protocol secured by the over-collateralization of multiple mainstream digital assets, which complements existing fiat currencies and cryptocurrencies as a means of transaction and storing value.
USDD has immense potential for adoption and applications and also focuses on business use cases in cryptocurrency. As the world becomes more decentralized, USDD will be more integrated with more dApps thanks to its solid tokenomics. The USDD protocol will empower people further to pursue the next stage of global financial accessibility, collectively leveraging blockchain technology on the masses. With perpetual existence and zero dependence on any centralized entity, USDD will become the most decentralized stable currency in human history.
Who are the founders of USDD (USDD)?
Justin Sun, the founder of TRON, is also the founder of USDD.
What is USDD (USDD) used for?
USDD can be used to stake in popular centralized and decentralized platforms for additional USDD, ETH, or relevant crypto tokens.
USDD can be used to purchase products and services since it has the same purchasing power as the dollar bill.
USDD can be sent across borders to individuals willing to accept the token.
How is USDD (USDD) unique?
The team ensured the issuance process and management mechanism of the protocol falls within the USDD, the TRON DAO Reserve. They also ensured that prominent blockchain institutions in the industry conducted the issuance and management of USDD, which are completely based on the TRON decentralized network, and adopt multi-signature methods to ensure transparency and security of issuance and management.
The USDD protocol aims to provide the blockchain industry with the most stable, decentralized, tamper-proof, and freeze-free stablecoin system, a perpetual system independent of any centralized entity. USDD is secured by the over-collateralization of multiple mainstream digital assets (e.g. TRX, BTC, and USDT). The total value of collateralized assets is significantly higher than that of USDD in circulation with the collateral ratio set at 120%.
USDD circulates on TRON, Ethereum, BSC, and other networks via the cross-chain protocol BitTorrent Chain. Similar to TRC20-USDT, it caters to users’ needs by offering them a fast and affordable experience on TRON. The core purpose of the open market operation of the TRON DAO Reserve has been and will always be to maintain USDD’s price stability rather than profit from trading. The proceeds generated from OMO, if any, will go to the reserves for efforts to stabilize USDD’s price and further the growth of TRON’s ecosystem.
The USDD protocol is committed to meeting the needs of consumers for stable digital currency by enabling USDD to be used for electronic payments. To achieve this, the USDD protocol is being pegged to the USD – the most widely applied fiat currency in the world – to establish a stable, decentralized, and tamper-proof USDD-USD system. The protocol will uncover the nature of currencies and bridge the gap between digital assets and their practical applications.
How many USDD (USDD) coins are in circulation?
The USDD token was issued on April 30th, the TRON DAO Reserve will pre-issue 999 billion TRC-10 USDD and transfer 1 billion of them to an authorized, multi-signature contract as the early USDD reserves. The remaining 998 billion USDD will be transferred and staked in an issuance contract, a smart contract based on the decentralized TRON network with a 5/7 decentralized institution-controlled 10-day time-lock.
In cases of the USDD reserved in the authorized contract being lower than 500 million, the TRON DAO Reserve will authorize part of the USDD tokens from the issuance contract via 5/7 multi-signature to replenish the reserves.
How is the USDD (USDD) network secured?
The security of a stablecoin protocol depends on whether there is sufficient asset value behind it. Based on the TRX burning mechanism implemented by the USDD protocol, the TRON DAO Reserve has also introduced high-liquidity digital assets such as BTC, USDT, and TRX for over-collateralization in the protocol.
The total value of collateralized assets will consistently remain significantly higher than the total value of USDD in circulation, with the current minimum collateral ratio set at 120%. Additionally, all collateral assets are stored in public on-chain accounts and listed on the TRON DAO Reserve’s website for full transparency.
How do I buy USDD (USDD)?
The USDD token can be used for a wide range of uses, like staking and purchase.
USDD tokens can be easily purchased by following the following steps.
Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy USDD through your trading account by exchanging with BTC, ETH, or USDT.
Which Cryptocurrency Wallet Supports USDD (USDD)?
The PTPWallet platform supports many cryptocurrencies with USDD soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, supported by both Android and iOS devices, and comes with its own mobile wallet app.