After the strong attack of TerraUSD (UST) the market has not yet shown signs of a full recovery, a stablecoin project encountered some difficulties and USDD has caused certain concerns in the community.
Across all major trading platforms, the price of USDD has fallen to $0.97. This led to predictions that this would be a project that could follow in terra's (LUNA) footsteps. The $1 million recently converted to 997,339 Tethers (USDT) has been flagged by CurveSwaps, a bot that tracks large asset transfers.
To protect the USDD exchange rate, Tron Dao Reserve has announced that it has received US$700 million (USDC) coins with the aim of adapting to the career of current market conditions. Faced with the current situation, according to the research team behind the stablecoin, the share of usdd has increased sharply up to 300%.
For the market extreme condition, @trondaoreserve has received 700 million USDC to defend #USDD peg. Now USDD collateralization rate is nearly 300%. https://t.co/ULYBfjt2i0
— TRON DAO Reserve (@trondaoreserve) June 13, 2022
The price of tron (TRX) has been seriously affected by the USDD losing its peg, it is now down more than 20% compared to before but things were quickly brought under control. A few hours later, Tron Dao decided to issue an announcement that it would send an additional $100 million usdc to buy TRX on Binance's exchange.
Justin Sun, founder of Tron, asserts that USDD is a safe stablecoin and a stable mortgage rate, always maintained at a minimum of 130%. Usdd's mortgage rate since june 5 is now 279% and is always publicly available on tron dao reserve's official website.
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