What Is USDD: The 30% APY TRON Stablecoin From Justin Sun
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In April, Justin Sun introduced the USDD stablecoin to the market. This coin is set to be part of the TRON blockchain and is meant to function like the price of the U.S. dollar or a currency such as gold. As an algorithmic stablecoin, USDD is similar to UST, the Terra stablecoin that was the largest of its kind until early May. Because of how new and untested the TRON stablecoin is, it may seem daunting to consider investing in the TRON stablecoin. In this article, we’ll learn more about what USDD is and what it can do for your long-term goals if you choose to invest in it.
What Is USDD?
USDD is a TRON stablecoin and digital asset that launched on BNB Chain, Ethereum and TRON on May 5, 2022. Justin Sun claims that USDD will provide investors with an annual percentage yield of 30%.
Since the USDD stablecoin was just introduced in late April, it doesn't have a lengthy history. However, the TRON blockchain has been around for years and is among the largest decentralized platforms, with its own cryptocurrency. When the Singapore-based Tron Foundation introduced TRON in 2017, it was initially marketed to Asia. Since that time, the platform has gone global and now boasts over 50 million accounts. When taking market capitalization into account, the TRON cryptocurrency ranks 31st among all options.
Looking specifically at USDD, it’s a TRON stablecoin that will be available across several different networks. There are a wide range of different stablecoins that you can select from, which include everything from