Algorithmic stablecoin USDD has just been launched on the TRON network. The cryptocurrency is also available on the Ethereum and BNB Chain blockchains through the cross-chain protocol BTTC.
The TRON team announced the launch of the stablecoin in late April. The asset is backed by the network’s native token TRX and reportedly $10 billion in liquid assets.
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The project’s founder Justin Sun has said that TRON DAO Reserve, the cryptocurrency’s manager, will set a “risk-free” annual interest rate of 30% for the asset’s return.
TRON representatives have also announced the total value locked (TVL) in DeFi projects has reached a record high of more than $10 billion.