Tron, which launched its USDD algorithmic stablecoin last month is making major changes to its architecture to avoid the fate of the Terra blockchain and the fallout of its UST algorithmic stablecoin. USDD Now the First Over-Collateralized Stablecoin According to the Tron DAO Reserve, Tron’s new stablecoin’s $688M market cap is 217% collateralized, with a minimum guaranteed collateralization ratio of 130%. 🎉#USDD has officially become the first over-collateralized #decentralized #stablecoin! 📈With the world’s highest collateral ratio, a guaranteed 130%, #USDD leads as crypto’s new settlement currency, bringing the development of #decentralized #stablecoin to the next level!🚀 https://t.co/nYbtzHj2Kg — TRON DAO (@trondao) June 5, 2022 Tron founder Justin Sun confirmed that plans to over-collateralize USDD were in place before the TerraUSD meltdown. However, the recent event moved it up on the list of priorities. “We want to have USDD to be over collateralized, which I think will make market participants more comfortable about using us in the future,” Sun said. The collateral is partly made up of Tron’s native token TRX, Tether, and Bitcoin (BTC), which amount to $783M. Other assets make up the total of $1.37B, which is still below the $10B initially promised on April 21, 2022, which Sun hopes to eventually raise. The move comes just a few weeks after the collapse of the Terra ecosystem, erasing a combined market value of over...
North Carolina Eyes Crypto for Pension Funds
