Algorithmic Stablecoin USDD is Launched on the TRON Network

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.