USDD Expands to Ethereum, Launches Peg Stability Module for Seamless Minting

USDD’s expansion to Ethereum introduces a Peg Stability Module, enabling on-chain minting and swapping with USDT and USDC.

The introduction of sUSDD offers users a decentralized savings option, earning interest directly within the Ethereum network.

USDD’s airdrop campaign rewards users with yield, starting at 12%, based on the total locked value in the PSM contract.

On September 8, the Justin Sun-backed decentralized stablecoin, USDD, officially launched on the Ethereum mainnet. This marks a significant step in its journey beyond the Tron network, expanding its presence and furthering its multi-chain ambitions. USDD's deployment on Ethereum is a direct move to tap into the network’s vast liquidity pool, a crucial step for increasing its relevance in the DeFi space.

This expansion comes with the launch of a Peg Stability Module (PSM), allowing USDD to be minted and swapped directly on-chain with popular stablecoins such as USDT and USDC. Unlike previous cross-chain methods, this direct deployment on Ethereum minimizes counterparty risks and provides a more robust connection to Ethereum’s liquidity layer. The USDD team confirmed that the full audit by security firm CertiK has been completed, ensuring the launch’s security.

Targeting DeFi’s Core

The USDD team sees Ethereum as the most valuable ecosystem for DeFi. With Ethereum being home to the largest concentration of developers, protocols, and capital in the space, USDD’s expansion aims to capture a significant share of this liquidity. This move is essential for USDD, as it transitions from being confined to Tron’s ecosystem to being more integrated into Ethereum’s DeFi infrastructure.

Alongside the expansion, USDD will introduce sUSDD, a yield-bearing version of the stablecoin designed as a decentralized savings instrument. This new feature will allow users to earn interest on their holdings directly within the Ethereum network. Additionally, an airdrop campaign will begin on September 9, with rewards for users who deposit USDT or USDC into the official PSM contract. The rewards will vary based on the total locked value, starting at 12% for amounts under $50 million and tapering down as liquidity grows.

Ongoing Rewards and Merkl Integration

The airdrop campaign utilizes Merkl, a platform for precise reward distribution, to manage a tiered yield system. The rewards will accrue continuously, with users able to claim them as often as every eight hours. This ensures a fair distribution, especially for early adopters, while also offering an ongoing incentive for users to participate in the Ethereum-based USDD ecosystem.

The post USDD Expands to Ethereum, Launches Peg Stability Module for Seamless Minting appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.