Tron DAO purchased bitcoin and TRX for $50 million to replenish USDD reserves

Home / Tron DAO purchased bitcoin and TRX for $50 million to replenish USDD reserves

Tron DAO purchased bitcoin and TRX for $50 million to replenish USDD reserves

posted on June 12, 2022 by in Blockchain

Tron Dao Reserve, which manages the algorithmic USDD stablcoin, said it acquired bitcoin and Tron (TRX) for $50 million.
After the collapse of the UST coin, Tron creator Justin Sun said that the USDD Stablecoin would be backed by excess reserves. According to Sun’s statements, the surplus will be 130% on all issued USDD.
As of today, the USDD Stablecoin’s collateral ratio is 193%.

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