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TRON to Release Stablecoin USSD, Suggests Stablecoin 3.0 Era is Now
Summary: Justin Sun the founder of TRON, a blockchain-based decentralized platform aiming to host a global entertainment system for sharing digital content, announced in a series of five tweets, they will enter the stablecoin market with the release of Decentralized USD (USDD) in May. As a result, TRX the native coin on the TRON blockchain, has ...
Justin Sun the founder of TRON, a blockchain-based decentralized platform aiming to host a global entertainment system for sharing digital content, announced in a series of five tweets, they will enter the stablecoin market with the release of Decentralized USD (USDD) in May.
As a result, TRX the native coin on the TRON blockchain, has surged in price from $.066 to $.071, making that a roughly 14% increase, according to BitPush Terminal data. The new stablecoin will be pegged to TRX and aims to achieve on-chain decentralization, freeing holders from central authorities' impositions and eliminating entry barriers. TRON wants to make access to financial services a fundamental human right worldwide.
Sun explained that “when USDD’s price is lower than 1 USD, users and arbitrageurs can send 1 USDD to the system and receive 1 USD worth of TRX…when USDD’s price is higher than 1 USD, users and arbitrageurs can send 1 USD worth of TRX to the decentralized system and receive 1 USDD.”
TRON’s goal is to keep USDD stable at 1:1 against the U.S. dollar regardless of market volatility.
According to Sun, USDD is set to launch on the TRON network on May 5 and will be available on the Ethereum and BNB chain using the BTTC cross-chain protocol.
Sun also argued that the stablecoin space is entering its 3.0 era and claims that USDD will lead the way. The Omni-USDT 1.0 era, stablecoin with no native blockchains relied strictly on the Bitcoin network, with transfers taking more than 30 minutes and fees costing up to $100. In the TRON based 2.0, USDT issued on the TRON blockchain decreased transaction time to under a second with fees only a mere few pennies.
Now, in the 3.0 era, USDD will not rely on any centralized institutions for “redemption, management, and storage,” achieving a full on-chain decentralization.
Sun finished his series of tweets with a message:
“I believe that #USDD can be #TRON DAO’s most significant contribution to the world’s financial freedom after the introduction of #TRC20-#USDT! Let us work together towards more freedom for all the seven billion people worldwide and towards a better tomorrow!”
Author: Tyler Irvin
Tags: Ethereum,Tron,TRX
Link: TRON to Release Stablecoin USSD, Suggests Stablecoin 3.0 Era is Now [Copy]
