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The Tron blockchain saw a sharp rise following the public release of $USDD, the project’s new algorithmic stablecoin. Tron boasts a massive +41.68% increase this month, with a +13.30% rise over the past week. This massive increase has seen Tron become the third-largest blockchain in terms of total value locked
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This week the Tron blockchain has become the third-largest network in terms of total value locked (TVL) in decentralized finance (defi) protocols. Interestingly, 48.19% of the TVL is held by the defi protocol Justlend, an application that’s similar to Anchor Protocol as it offers more than 20% APY for USDD
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Seven days ago, Cryptox.trade News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster the project’s reserves. In
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The controversial crypto entrepreneur explains how an algorithmic stablecoin can still succeed while denying rumors he was behind the de-pegging of Terra’s failed UST. Original Source
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On May 5, Tron’s algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron (TRX) to back the algorithmic stablecoin, as the project aims to
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The Global Currency Organization (GCO) announced earlier this month that a US Dollar backed stablecoin, USD Digital (USDD), will be released soon. The US Dollars that back the digital currency are mainly stored in deposit-insurance accounts.The Global Currency Organization was started by former employees of TrustToken, Intel and JPMorgan. Since
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