9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
TRON DAO Reserve bought bitcoin and TRON tokens to secure USDD algorithmic stablecoin. To protect the overall blockchain industry and crypto market, TRON DAO Reserve has acquired 500.
TRON DAO Reserve bought bitcoin and TRON tokens to secure USDD algorithmic stablecoin.
The organization purchased 500 BTC at an average price of $31,000, valued at more than $15.5 million. The purchase of 595.7 million TRX cost TRON DAO Reserve $45.6 million.
Justin Sun, head of the Tron Foundation, announced the launch of USDD in April, it took place on May 5. According to Sun, TRON DAO Reserve will set a “risk-free” annual interest rate of 30% for the asset’s return.
USDD repeats the UST stablecoin model according to the algorithm of its work.
Recall that the latter was pegged to the US dollar several times before. On May 9, users withdrew more than 3.3 billion USTs from the protocol. For less than a day on May 10, fund outflow reached UST 1.1 billion.
How anchor issues can affect Terra’s economy, in a ForkLog exclusive review:
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
