TRON DAO Reserve Acquires $61M in Bitcoin and TRX to Secure USDD
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The TRON DAO Reserve has recently acquired Bitcoin and TRON tokens to secure the algorithmic stablecoin USDD.
u worth more than $15.5 million. The acquisition of 595.7 million TRX cost TRON DAO Reserve $45.6 million.
Justin Sun, the head of the Tron Foundation, announced the launch of USDD in April and it took place on May 5. According to Sun, TRON DAO Reserve will set a “risk-free” annual interest rate of 30% for the return on the asset.
The USDD, according to the algorithm of its work, repeats the UST stablecoin model.
The UST had lost its peg to the US dollar several times earlier. On May 9, users withdrew more than 3.3 billion UST from the protocol.
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