• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, May 16, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Tron’s Stablecoin USDD Follows Terra’s Footprints?

by Nishant K
May 29, 2022
in Crypto
Reading Time: 2 mins read
0
Tron to follow Terra's footsteps?

Picture Credits: The Cryptonomist

TwitterWhatsappLinkedin

Tron’s USDD!

Tron's USDD
Picture Credits: Block-builders.net

Tron happens to be a popular blockchain-based operating system, which focuses on creation of decentralized applications and share media content. TRX token, one of the cryptocurrencies of Tron is created, to gain the access features of the operating system on the Tron Protocol. Factually, TRX originated from Ethereum Blockchain, but then were later dissolved to form a separate token on its own with its own blockchain. Tron also took a brave step by launching UST’s competition called USDD. USDD is also decentralized algorithmic stablecoin which happens to be the core of Terra’s UST.

You might also like

Ukraine’s Daring Move: Leading Europe’s First National Bitcoin Reserve

Inside the $20 Million Ransom Scheme: Coinbase’s Foreign Support Agents Bribed

XY Miners receives $70 million in funding to bring users $3,000 in passive income per day

 

USDD and its peg!

USDD is believed to be pegged at 1:1 with the US Dollar and will be in maintaining its peg in the similar fashion as of Terra’s USD. In the trade in Tron, when the stablecoin gets depegged to a value of less than $1 then, the user will be allowed to swap USDD for exactly $1 worth TRX token. When the value rises more than $1, a user can acquire TRX worth $1 and swap the same for USDD. The functions are similar in nature with Terra’s stable coin UST and its relations with its sister token LUNA.

 

USDD’s growth in comparison to UST!

Tron went on to make a carbon copy of Terra’s UST. But, to market’s surprise the market capitalization of Tron’s USDD crossed over $550 million within a week. Even the crypto market implosion didn’t affect the market capitalization rate of the stablecoin. Ironically, the value of the stablecoin doubled in value amidst the market crash. In comparison, Terra’s USD, which was launched in November 2020, could only get a value of $150 million in the first four weeks, in terms of market capitalization.

 

Investor’s Optimism on Tron!

Even though crypto investors all around the world lost billions of dollars in the market by investing in Terra’s USD, the wave of high market capitalization for Tron makes it quite clear that, the investors didn’t learn from their experiences and are being overtly optimistic about the stablecoin. As we know, before the crash, UST was the world’s largest algorithmic stablecoin with a market capitalization of over $18 billion, with its sister token LUNA being one of the top 10 cryptocurrencies in the world, a crypto market like the one which swiped billions recently had a major and non-recoverable impact on Terra’s UST.

Writer’s Report!

It is true that both the stable coins showed good results in the first weeks of market capitalization. But Terra stumbled and crashed in a crypto market implosion, to a level where it is drowning in the ocean of the market. Will Tron have the same fate as Terra or will Tron be able to take the stable coin to become one of the largest algorithmic stablecoin in the world, only time can tell!

Tags: #Crypto#cryptoexchange#usdd#USTcryptocurrencyLunaTerraTronTRX
Tweet54SendShare15
Previous Post

Tata Motors Set to Take Over Ford Plant in Gujarat

Next Post

A big win for Stablecoins! Market volatility doesn’t stop ERGO’s SigUSD to maintain its peg.

Nishant K

Recommended For You

Ukraine’s Daring Move: Leading Europe’s First National Bitcoin Reserve

by Anindya Paul
May 16, 2025
0
Ukraine’s Daring Move: Leading Europe’s First National Bitcoin Reserve

Ukraine is on the brink of becoming the first European nation to see its national reserves officially adopt Bitcoin. A draft bill that was drawn up by MP...

Read more

Inside the $20 Million Ransom Scheme: Coinbase’s Foreign Support Agents Bribed

by Anindya Paul
May 15, 2025
0
Inside the $20 Million Ransom Scheme: Coinbase’s Foreign Support Agents Bribed

Coinbase, the largest US cryptocurrency exchange, on May 15, 2025, reported that a sophisticated attack saw cybercriminals bribe foreign support agents to steal sensitive customer data and demand...

Read more

XY Miners receives $70 million in funding to bring users $3,000 in passive income per day

by Techstory
May 15, 2025
0
XY Miners receives $70 million in funding to bring users $3,000 in passive income per day

As the world attaches great importance to clean energy and sustainable development, XY Miners, a British cryptocurrency cloud mining platform, announced the successful completion of a $70 million...

Read more
Next Post
Ergo's SigUSD takes chrage

A big win for Stablecoins! Market volatility doesn’t stop ERGO’s SigUSD to maintain its peg.

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?