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Home News Cryptocurrencies Stablecoins

TronDAO Claims USDD Is Not Depegged

by The Distributed Team
June 18, 2022 - Updated on April 30, 2023
in Stablecoins
TronDAO: USDD Is Not Depegged

TronDAO Reserve states that volatility with their stablecoin is unavoidable.

USDD is an algorithmic-based stablecoin that is pegged 1:1 with the US Dollar. Although, USDD has been trading under $1 for 5 days.

  • In a tweet from the TronDao Reserve which backs USDD, they state that USDD is not depegged from the US Dollar as certain percentages of volatility are unavoidable.

  • The reserve states that with current market volatility, percentage changes of 3%-+ are an “acceptable range”. Although with the current price of USDD, it is at a 3.27% decrease from its peg.
  • According to the reserve, the reason for trading below $1 comes from “extreme market conditions”, where traders have been liquidated and large shorts on both TRX and USDD have been accumulated for profit.
  • Despite the extreme market conditions, the reserve claims that they have a very healthy balance sheet with a collateralization rate of 320%. The reserve will be watching the market very closely and acting accordingly.

See Related: USDD Algorithmic Stablecoin Remains Depegged After Two Days

Tags: DepegJustin SunTRONUSDD

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