05-15-2022, 07:56 PM
FYI - Justin Tron's new "stable coin" USDD is just another algo stable coin, like LU
<!-- SC_OFF --><div class="md"><p>It launched like 2 weeks ago and he's shilling insane rates (20-40%) on his twitter. </p> <p>White paper - <a href="https://usdd.io/USDD-en.pdf">https://usdd.io/USDD-en.pdf</a></p> <p>Tron interview with coindesk about USDD <a href="https://www.coindesk.com/markets/2022/05/14/justin-sun-talks-usdd-stablecoin-in-wake-of-lunaust-unravel/">https://www.coindesk.com/markets/2022/05/14/justin-sun-talks-usdd-stablecoin-in-wake-of-lunaust-unravel/</a></p> <p>“I still believe in algorithmic stablecoins,” he told CoinDesk in a Zoom interview, which was scheduled before any of the market turmoil surfaced. </p> <p>Hmmm, so USDD will maintain its peg by a minting/burn process that will convert one USDD to $1 worth of TRX, the native token of the Tron blockchain. And $1 worth of TRX could be burned to mint one USDD. </p> <p>​</p> <p>SOUND FAMILIAR? lmao.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/akatip"> /u/akatip </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uq038j/fyi_justin_trons_new_stable_coin_usdd_is_just/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uq038j/fyi_justin_trons_new_stable_coin_usdd_is_just/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>It launched like 2 weeks ago and he's shilling insane rates (20-40%) on his twitter. </p> <p>White paper - <a href="https://usdd.io/USDD-en.pdf">https://usdd.io/USDD-en.pdf</a></p> <p>Tron interview with coindesk about USDD <a href="https://www.coindesk.com/markets/2022/05/14/justin-sun-talks-usdd-stablecoin-in-wake-of-lunaust-unravel/">https://www.coindesk.com/markets/2022/05/14/justin-sun-talks-usdd-stablecoin-in-wake-of-lunaust-unravel/</a></p> <p>“I still believe in algorithmic stablecoins,” he told CoinDesk in a Zoom interview, which was scheduled before any of the market turmoil surfaced. </p> <p>Hmmm, so USDD will maintain its peg by a minting/burn process that will convert one USDD to $1 worth of TRX, the native token of the Tron blockchain. And $1 worth of TRX could be burned to mint one USDD. </p> <p>​</p> <p>SOUND FAMILIAR? lmao.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/akatip"> /u/akatip </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uq038j/fyi_justin_trons_new_stable_coin_usdd_is_just/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uq038j/fyi_justin_trons_new_stable_coin_usdd_is_just/">[comments]</a></span>