What is USDD!?

USDD on @TRON DAO 🪙
A total of 300 USDD up for grabs
Quiz event is live 🎉
🔗https://x.com/TronDao_JPN/status/2063819249832095849
So, what's USDD all about!?
What's the difference from USDT!?
I'll break it down for you 🧑‍🏫
1. What is USDD?
✅Launched in May 2022
✅Led by the TRON DAO Reserve
(A reserve and management organization created to support the stability of USDD)
✅Supports multiple chains like TRON, ETH, BNB, etc.
✅Current market cap is around $1.3 billion
'A decentralized dollar from the TRON ecosystem'
It is a stablecoin aiming to achieve that.
2. Differences from USDT
✅ USDD = decentralized ≠ centralized
✅ Over-collateralized (holds backing assets exceeding issued amount)
✅ Market cap is approximately $1.3 billion (USDT is $180 billion)
Utilizing smart contracts to
To monitor collateral status and reserve movements, etc.
A strong point is that it can be verified on-chain.
3. Feature #1 'sUSDD'
✅ You can deposit USDD and earn yields
✅ No need to move to external DeFi or lending
The 'capital efficiency' aspect in stablecoins
The effort to add value is
That's a major feature of USDD.
4. Feature #2 'PSM'
✅ Abbreviation for Peg Stability Module
(Like a price stabilization module)
USDD aims for 1 USDD = 1 dollar
Similar to other stablecoins, however,
PSM relates USDD to USDT, USDC, etc.
A gateway to make it easy to exchange 1:1.
The issuer holds reserve assets to maintain it at $1.
In contrast to USDT and USDC, which can be issued and redeemed,
USDD is designed on-chain with PSM and others.
(With a different approach) aiming for stabilization.
USDD competes with massive centralized stablecoins like USDT and USDC using strengths like 'decentralization', 'transparency', and 'low-cost transfers on TRON'.
Looking forward to future movements and marketing, right? 😌
Quiz for prizes 💰 is from the source ✅
Check out the explanatory article related to the quiz here👇