TronDAO Injects $300 Million in USDC to Reserves; USDD Still De-Pegged

Tron DAO adds $300 million in $USDC to trondaoreserve

Upon launch on June 5, 2022, USDD creators claimed that the stablecoin went live with a collateral rate of 200%. Its documentation guarantees a minimum collateral rate of 130%.Alongside that, despite the USDD de-peg, the APY on the USDD/USDT pair in the Sun.io protocol almost reached 50%. This is almost 150% higher than Anchor Protocol had offered before its collapse.This accelerated liquidity injection spree, however, is still failing to recover the USDD peg to the price of the U.S. Dollar.

As covered by U.Today previously, H.E. Justin Sun and TronDAO are protecting the USDD design from attacks for the fifth day in a row. The stablecoin de-pegged on June 13, 2022, only eight days after its mainnet release.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Utoday_en /  🏆 295. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TRON DAO Reserve Withdraws 2.5 Billion TRX From Binance to Safeguard USDD PegTRON DAO Reserve is set to withdraw 2.5 billion TRX out of Binance, making it more difficult for short sellers to short the asset.
Read more »

TRON DAO Reserve to Withdraw Another 3 Billion TRX to Protect USDD PegFor the second consecutive day, the TRON DAO Reserve announces plans to withdraw substantial quantities of TRX from trading platforms.
Read more »

Teetering Digital Dollar USDD Falls Further From Its $1 Target Amidst Major Market UncertaintyTroubled stablecoin USDD is sliding further away from its targeted $1 peg Wednesday morning amidst further crypto turmoil that is seeing bitcoin threaten to fall below $20,000.
Read more »

Tron's USDD Remains Below the $1 Parity for 24 Hours, Token Hits a Low at $0.95 per Unit – Bitcoin NewsTron’s stablecoin USDD has remained below the $1 parity for well over 24 hours and around 3:00 a.m. (ET), USDD hit a low of $0.958 per unit.
Read more »

TRON DAO Reserve Withdraws 2.5 Billion TRX From Binance to Safeguard USDD PegTRON DAO Reserve is set to withdraw 2.5 billion TRX out of Binance, making it more difficult for short sellers to short the asset.
Read more »

TRON DAO Reserve to Withdraw Another 3 Billion TRX to Protect USDD PegFor the second consecutive day, the TRON DAO Reserve announces plans to withdraw substantial quantities of TRX from trading platforms.
Read more »