ICYMI: TronDAO states that $USDD's ongoing drop below $0.97 should not be interpreted as a de-peg Tron TRX $TRX
TronDAO shared brief a Q&A on the status of reserves backing USDD and further plans for activities necessary to keep its liquidity ecosystem healthy.On its official Twitter account, TronDAO representatives highlighted that the ongoing drop of USDD's valuation below $0.97 should not be interpreted as a de-peg.No. USDD is a decentralized stablecoin that depends on an on-chain mechanism & collateralized assets, unlike centralized stablecoin e.x.
After recent injections, USDD becomes virtually the most over-collateralized decentralized stablecoin in the Web3 segment. Currently, it is backed by a liquidity pool of 1,080,000,000 USDC; 10,874,566,176 TRX; 14,040.6 BTC and 140,013,886 USDT.
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