USDD, a decentralized stablecoin on the TRON ecosystem has surpasses the $100 million mark in total supply within the first three days of its launch. Justin Sun, the founder of TRON, posted on X celebrating this milestone. Sun also pointed out that this milestone was achieved without any support from exchanges but was achieved from relying solely on on-chain traffic.
USDD Surpasses $100M in Total Supply
A New Era for USDD
Justin Sun while he celebrates this achievement, he made another post where he welcomed big and influential firms to collaborate with the project. He even put out rewards for the firms that would participate in this project. The firms would receive 20% annualized USDD rewards. Additionally, a 1:1 exchange ratio between USDT and USDD has been implemented to ensure liquidity and stability.
Justin Sun to Reward Companies that Participate in The Project
Strengthening USDD’s and TRON’s Position
Since USDT and USDD are under the same ecosystem (TRON ecosystem), Sun assured that the USDD will also receive the same support as USDT within the ecosystem. The stablecoin is said to strengthen its position and presence by making sure that it has a strong backing and offers lucrative rewards for its early adopters, just like the reward Sun offered above for the participating in the projects.
As this stablecoin is part of the TRON ecosystem, this achievement could also been seen as growing adoption and usage of the TRON network and hence Justin Sun seem to be celebrating the achievement with such a pride. Moreover, the stablecoin’s rapid growth could also be seen as a challenge to other stablecoins, such as USDC and USDT, which have known to be dominating up until now.
This rapid increase in the stablecoin total supply indicates the increasing demand of decentralized stablecoins within the cryptocurrency sector. It also indicates that more and more people are adopting stablecoins and community confidence has increased in these coins. As the adoption of this coin continues, the stablecoin’s market position is expected to expand further.
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