MEXCBreaking: USDD Breaks Highest Collaterization Record Amid Stablecoin Fears
Amidst all the turbulence surrounding stablecoins over the last one month, Tron’s USDD continues to make significant strides. Ever since it was launched exactly a month ago, the stablecoin reached some key milestones.
USDD Has Highest Collateral Ratio
The TRON DAO Reserve said it upgraded USDD to the ‘first over-collateralized decentralized stablecoin’. With the highest collateral ratio around the globe, the coin has a total circulating supply of nearly 700 million.
According to latest figures displayed on its website, USDD’s collateral ratio stands at 205.54%. The USDD tea said in a blog post,
“As one of the most secure decentralized stablecoins, USDD enjoys a guaranteed collateral ratio of at least 130%. While allowing the TRON DAO Reserve members to continue minting USDD by burning TRX, the upgrade consolidates USDD’s stability and credibility by over-collateralizing assets under the TRON DAO Reserve (TDR).”
Total Backing Of $1.37 billion In Assets
The reserve assets would include BTC, TRX, and multiple stablecoins like USDC, USDT, TUSD, and USDJ, at a ratio of 130% to back USDD. The TRON DAO Reserve is currently holding 10,500 BTC, 240 million USDT, and 1.9 billion TRX in the reserve account. This is in addition to the 8.29 billion TRX already in the burning contract. The real-time collateral ratio is now over 200%, which is a total $1.37 billion of assets backing the 667 million USDD in circulation.
Justin Tron, founder of Tron, said,
“Spearheading the Stablecoin 3.0 era, the upgraded, over-collateralized USDD will add more diversified features to underpin its stability. The $10 billion reserves pledged by the TDR will enable USDD to become the most reliable decentralized stablecoin with the highest collateral ratio in blockchain history. Currently, the 200%+ collateral ratio offers USDD a very strong safety net.”
Meanwhile, several countries are moving towards making laws to regulate stablecoins. Recently, the United Kingdom came forward to cover the gap in crypto-related regulation. The government proposed to modify the “Financial Market Infrastructure Special Administration Regime”. This allows the Bank of England to secure the continuity of stablecoin payments during any crash.
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