USDD (USDD)
What Is USDD?
USDD is a stablecoin issued by the TRON DAO Reserve. It’s pegged to the value of the US dollar and aims to provide a reliable, decentralized cryptocurrency for blockchain transactions. USDD can be used for payments, trading, staking and as a value store. USDD is backed by a number of cryptocurrencies, including Bitcoin, Ethereum and TRON. To ensure stability and security, the reserve is over-collateralized, meaning that it holds more assets than the amount of USDD currently in circulation.
Who Are the Founders of USDD?
Justin Sun is the founder of the TRON, which is behind the USDD stablecoin. Launched on May 5, 2022, USDD is on the TRON blockchain and is also available on Ethereum and BNB Chain.
What Makes USDD Unique?
USDD is issued and redeemed via smart contracts on TRON. This allows for fast and secure transactions, as well as transparent and verifiable records of USDD issuance and redemption. It also lets users join staking pools. A decentralized community of stakeholders oversees the management and development of USDD, and makes decisions on behalf of the wider community via the TRON DAO Reserve (TDR). The TDR is the principal custodian of USDD and is responsible for preserving the value of the currency and maintaining a stable exchange rate. It was established as a separate financial organization to protect the Tron ecosystem against the effects of extended economic downturns, financial panic, and unstable exchange prices for both centralized and decentralized Tron stable currency. Its primary roles are as a lender of last resort, a regulator of risk-free interest rates, a manager of liquidity through the release and restriction of funds, and an implementer of monetary and exchange rate policies.
How Many USDD Coins Are There in Circulation?
USDD stablecoin is intended to maintain a fixed exchange rate of 1:1 with the US dollar. This implies that for every USDD coin in circulation, a corresponding amount of US dollars is set aside in reserve. $2 billion worth of USDD has been authorized, while $1.25 billion worth of coins remain authorized but not yet issued. As of June 2023, the total supply of USDD is around $741K, and the total collateral is around $1.2 billion. These are mainly held in TRX, BTC and TUSD.
How Is the USDD Network Secured?
Any stablecoin’s security relies heavily on the stability of the assets that underpin it. As such, the USDD protocol over-collateralizes the protocol with highly liquid assets, including BTC, TUSD and TRX. In order to keep the currency stable when its reserve assets’ values change as a result of adverse market conditions, the protocol’s monetary policy allows it to adjust the reserve asset ratios dynamically.
Where Can You Buy USDD?
USDD is listed on crypto exchanges, including KuCoin, PancakeSwap (V2), Uniswap (V3), SushiSwap, Gate.io, Poloniex, Huobi, Bybit and more.
What tools does Nimbus offer for effortlessly monitoring USDD?
Nimbus provides a user-friendly tracking solution equipped with intuitive tools to monitor USDD effortlessly. These tools are specifically designed for user convenience, allowing individuals to stay seamlessly updated on the latest trends, prices, and information related to USDD. Users can also explore the world of cryptocurrency effortlessly while simultaneously tracking USDD prices. The platform also offers insights into profit and loss, providing a comprehensive experience without the complexity typically associated with monitoring cryptocurrencies.
How does Nimbus enable tracking USDD prices with profit and loss?
Nimbus facilitates the tracking of USDD prices with profit and loss through seamless integration with your crypto wallet for portfolio monitoring. By connecting with your crypto wallet, Nimbus provides a clear and comprehensive overview of various metrics, including profits, losses, revenue, expenses, return on investment (ROI), and other essential financial indicators. This integration ensures that users can analyze their cryptocurrency portfolio with precision, gaining valuable insights into their financial performance. With Nimbus, users can navigate the cryptocurrency landscape with a perfect blend of simplicity and sophistication, enhancing their ability to make informed investment decisions.
How does Nimbus analyze USDD, and what insights does it provide?
Certainly! Nimbus possesses a robust analysis tool that is adept at evaluating and interpreting USDD . The tool employs diverse strategies, including delving into metadata details, tracking marketplace data, and calculating performance metrics such as Return on Investment (ROI). Through these methodologies, Nimbus provides users with valuable insights into the composition and performance of their USDD. Users can gain a comprehensive understanding of their investment. The analysis tool ensures that users are equipped with the necessary information to navigate the cryptocurrency landscape with confidence and intelligence.
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USDD Market Statistics
Price USD
$1.00Market Cap
$738,134,293.82Total Volume USD
$5,268,123.32Total Supply
738,130,144.84 USDDCirculating Supply
738,130,144.84 USDDFully Diluted Market Cap
$738,134,293.82Socials
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