Joanna Ossinger
Tron, which debuted the USDD algorithmic stablecoin last month, is looking to avoid the trouble its fellow token TerraUSD ran into by boosting transparency and adding collateral.
Total USDD supply stands at about $668 million, the Tron DAO Reserve website and CoinGecko indicate. USDD had a collateralization ratio of 218% as of Monday morning Asia time, according to the TDR website, while a statement from the company on Sunday said a guaranteed minimum collateral ratio of 130% will be maintained.
TDR’s site shows reserves in Bitcoin, Tether and Tron’s TRX of $787 million, helping comprise a total of about $1.4 billion of assets backing USDD in circulation.
The moves come just a few weeks after the Luna and TerraUSD ecosystem collapsed, all but erasing a combined market value that had once exceeded $60 billion.
“This has been in the plan, but Terra/Luna definitely accelerated and prioritized this for our team,” Tron founder Justin Sun said in a recent interview. “We...
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