Wintermute acquires right to issue USDD stablecoin
- August 9, 2022
- 0
Market maker Wintermute has become the ninth member of the TRON DAO Reserve behind the USDD algorithmic stablecoin. This was reported to ForkLog by its representatives. Trading firm
Market maker Wintermute has become the ninth member of the TRON DAO Reserve behind the USDD algorithmic stablecoin. This was reported to ForkLog by its representatives.
Trading firm USDD managed to print and burn it. Wintermute will also advise the development organization for the stablecoin project.
The coin entered circulation on May 5, on the eve of the collapse of the LUNA and Terra USD (UST). Stablecoin is available on TRON, Ethereum and BNB Chain networks.
TRON DAO Reserve noted that they recognize the price elasticity of USDD against the dollar in the face of market fluctuations. According to the representatives of the project, the bet on the “supersecurity” of the asset contributed to the successful stabilization of the proposals.
At the time of writing, the market quote is 739,887,667 USDD. Claimed reserves of stablecoin exceed $2.33 billion.
Algorithmic trader Wintermute is an established player in the cryptocurrency market with an average daily trading volume of more than $5 billion. The company supports OTC trading, providing liquidity to both centralized and decentralized platforms.
Recall that in May, Tron founder Justin Sun called $2 billion USDD collateral for the first phase. According to him, in the future the figure will reach 10 billion dollars.
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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.
