FYI – Justin Tron’s new “stable coin” USDD is just another algo stable coin, like LUNA
1 min read
It launched like 2 weeks ago and he’s shilling insane rates (20-40%) on his twitter.
White paper – https://usdd.io/USDD-en.pdf
Tron interview with coindesk about USDD https://www.coindesk.com/markets/2022/05/14/justin-sun-talks-usdd-stablecoin-in-wake-of-lunaust-unravel/
“I still believe in algorithmic stablecoins,” he told CoinDesk in a Zoom interview, which was scheduled before any of the market turmoil surfaced.
Hmmm, so USDD will maintain its peg by a minting/burn process that will convert one USDD to $1 worth of TRX, the native token of the Tron blockchain. And $1 worth of TRX could be burned to mint one USDD.
SOUND FAMILIAR? lmao.
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