Tron Network Launched Its Own Stablecoin USDD

The algorithmic stablecoin USDD has been released and put into circulation on the Tron network. The asset is available on Ethereum and BNB Chain via the BTTC cross-chain protocol. Tron has said it will keep $10 bln in bitcoin and other cryptocurrencies as reserves for its USDD stablecoin.

Earlier, the founder of the project, Justin SUN, said that the TRON DAO Reserve managing the stablecoin will set a “risk-free” annual interest rate of 30% for the asset’s return. Against this background, Tron announced that the total value locked (TVL) in blockchain DeFi projects has reached a record high of more than $10 bln.

At the time of writing, the price of TRX increased by 11.8% per day and reached $0.086. The token has risen in price by 24% over the week, but is trading approximately 63% below the high recorded in January 2018.

Image: Coinphony