Another algorithmic stablecoin appears to be in danger of losing its peg following the UST-Terra debacle. Investors are also currently in fear of having to face the same fate as Terra’s UST historical fall. USDD is a stablecoin that runs on TRON’s blockchain and has a similar algorithm to UST but is tethered to TRX. Similar to Terra Luna’s mechanism, USDD is an algorithmic stablecoin maintaining its dollar parity by burning TRX. At the time of writing, the stablecoin is trading at $0.95, which is about 5% below its target price peg of $1. This comes when TRX’s price is
The post Tron’s USDD Stablecoin Faces Same Fate as Terra Luna’s UST appeared first on The Merkle News.
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