USDD launching with 30% risk-free interest
A new algorithmic stablecoin is launching soon, with a “risk-free” interest rate of 30%! 🤑 Why that high, you might wonder? That’s because Terra’s UST has set the benchmark at 20%. To not lose out, Tron’s USDD is slated to launch with 30% interest.
Quite some money is likely to move.
We have not covered Tron. In short, they are a blockchain founded by Justin Sun. Their circulating supply of USDT (aka Tether) on their Tron network stands at $41B, which exceeded that on Ethereum.
USDD launch site is at https://usdd.io. Not much there, except their whitepaper.
A summary of the white paper
USDD 1.0 will launch on May 5, 2022.
The TRON DAO Reserve will raise $10 billion in early-stage reserves from prominent blockchain industry players, effectuating deposits over six to twelve months.
The TRON DAO Reserve and its stakeholders (whitelisted institutions) will be the first minters of USDD
So not for everyone yet..
USDD 2.0 will launch on Oct 10, on testnet.
USDD 3.0 will launch on Nov 30, on mainnent.
USDD 4.0 will launch on Dec 30, going live. TRON DAO Reserve devolves its rights of issuance and burning USDD to TRON Mainnet.
It is some time before everyone can earn the stablecoin interest rate. Hopefully by then, it will still be 30%, and for a longer time than UST.
