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USDD Stats

Name: USDD
Price: $0.996
Ticker: (USDD)
Rank: 88
Circulating Supply
754 Million
Total Supply
Max Supply
Marketcap
752 Million
24H Volume
1.79 Million
Heat Level
25.5°c
Asset Type
Token
Website Speed
Normal
24H High
$1.01
24H Low
$0.994
Following: 101
Follower: 93K
Coming Soon

USDD Heatmap

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Usdd Review

USDD is a stablecoin pegged to the US dollar, meaning that its value is intended to remain relatively constant at $1.00 USD. USDD is issued by Tron, a decentralized blockchain platform. Tron aims to provide a high-performance, scalable, and low-cost blockchain for decentralized applications (dApps).

Is backed by a combination of collateral and algorithmic mechanisms. The collateral consists of a basket of assets, including USD, USDT, and TRX (Tron's native token). The algorithmic mechanisms are designed to adjust the supply of USDD to maintain its peg to the US dollar.

Is still a relatively new stablecoin, having launched in May 2022. However, it has quickly gained traction, becoming one of the largest stablecoins by market capitalization. USDD is currently supported by over 100 exchanges and wallets.

Benefits of USDD

  • Stability: Is designed to maintain a stable value of $1.00 USD. This makes it a good choice for users who need a stable store of value or who want to avoid the volatility of other cryptocurrencies.
  • Scalability: Is built on the Tron blockchain, which is known for its high performance and scalability. This means that USDD transactions can be processed quickly and cheaply.
  • Accessibility: Is widely supported by exchanges and wallets, making it easy to buy, sell, and use.

Use Cases for USDD

  • Store of value: Can be used as a stable store of value, similar to a savings account or money market fund.
  • Payments: Can be used to make payments to merchants who accept USDD.
  • Decentralized finance (DeFi): Can be used to participate in DeFi activities, such as lending, borrowing, and staking.
  • Gaming: Can be used to purchase in-game items and services.

Risks of USDD

  • Smart contract risk: Is a smart contract-based application. This means that it is vulnerable to smart contract hacks and exploits.
  • Collateral risk: Is backed by a basket of assets, including USD, USDT, and TRX. If the value of these assets falls, it could impact the value of USDD.
  • Algorithmic risk: Uses algorithmic mechanisms to adjust its supply and maintain its peg to the US dollar. If these algorithms fail, it could lead to volatility in the price of USDD.

Overall Assessment

USDD is a new stablecoin with a number of potential benefits. It is backed by a combination of collateral and algorithmic mechanisms, and it is built on the high-performance and scalable Tron blockchain. USDD is also widely supported by exchanges and wallets.

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