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USDD Stable Coin withdrew nearly 750 million US dollars of BTC Collateral, Justin Sun said that this move is aimed at improving "capital efficiency"

BlockBeatNews
USDD0.01%
BTC1.09%
SUN-0.27%
TRX-0.03%
BlockBeats News, on August 23rd, according to TheBlock, Justin Sun, the founder of TRON, stated that TRON DAO Reserve has withdrawn nearly $750 million worth of BTC from the USDD Stable Coin. USDD is an Algorithm Stable Coin launched by TRON in 2022. After this reserve adjustment, TRX, the native token of TRON, is now mainly used as collateral for USDD. Justin Sun stated in his post that this is to improve the collateral ratio of USDD, which has been consistently over 300%. The current circulating value of USDD tokens is approximately $744 million, ranking as the seventh largest Stable Coin. Its reserves include $1.7 billion worth of TRX and USDT tokens, with a collateral ratio of over 230%, meaning its supported assets are more than twice the circulating Stable Coins. A report released by Bluechip pointed out that almost all of USDD's reserves are stored in Multi-signature, rather than the USDD Smart Contract.
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GateUser-7f0e801evip
· 2024-08-23 10:36
Hello, please send the usdd contract Address, thank you
View OriginalReply0
YangzaiPandavip
· 2024-08-23 02:03
Great sharing, thank you for sharing, thank you very much.
View OriginalReply0