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USDD v1

USDD v1

USDDV1
$0.9997Up 1.26 percent($0.01)

Key Stats

Market Cap$110.56MUp 1.26 percent
Fully Diluted Value$110.56M
Total Supply110.58M USDDV1
Max Supply∞
Launch Date2022-04-30
Built OnBNB
Token StandardBEP20
Smart Contract Address0xd174…be9c
Decimal Places18

USDD v1 Information

Websites
usdd.ioWhitepaper
Industries
Stablecoin
Parent Asset
USDD

USDD v1 Price Converter

USDD v1USDDV1
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USDD v1 Supported Platforms

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Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
USDDBEP20BNB0xd17479997F34dd9156Deef8F95A52D81D265be9c2022-04-30
USDDERC20ETH0x0c10bf8fcb7bf5412187a595ab97a3609160b5c62022-04-30
USDDOLDTRC20TRXTPYmHEhy5n8TCEfYGqW2rPxsghSfzghPDn2022-04-30

About USDD v1

USDD v1 (USDDV1) was the initial algorithmic stablecoin version launched in April 2022 on the TRON blockchain. It maintained a 1:1 peg to the US dollar through a TRX burning mechanism, with oversight from the TRON DAO Reserve. USDDV1 was used for DeFi applications, cross-border transactions, and as a stable medium of exchange.

Frequently Asked Questions

USDD v1 (USDDV1) was the initial version of the Decentralized USD (USDD) stablecoin, launched in April 2022 on the TRON blockchain. It was designed to maintain a 1:1 peg to the US dollar using an algorithmic mechanism involving the burning of TRX tokens. The protocol was managed by the TRON DAO Reserve, which oversaw its issuance and collateralization processes.

USDDV1 served as a core component of the TRON ecosystem, enabling multiple functions:

  • Stable Medium of Exchange:USDDV1 provided a stable digital currency for transactions within the TRON ecosystem, mitigating the price volatility typically associated with cryptocurrencies.

  • Decentralized Finance (DeFi) Integration:

It was integrated into various DeFi protocols for activities like lending, borrowing, and yield farming, offering users opportunities to earn returns on their stable assets.

  • Cross-Border Transactions:Leveraging the speed and low fees of the TRON network, USDDV1 facilitated efficient cross-border payments with reduced settlement times and transaction costs.

USDDV1 operated through an algorithmic stabilization mechanism:

  • TRX Burning Mechanism:The peg to the US dollar was maintained by an algorithmic system where TRX tokens were burned to issue USDD, and vice versa. This supply adjustment aimed to keep USDD's price close to $1.

  • TRON DAO Reserve Oversight:

The reserve played a critical role in maintaining stability, managing collateral reserves, and ensuring market confidence in USDD's value.

  • Collateralization:The protocol maintained collateral in various digital assets, adjusting reserve levels to sustain the peg during periods of high volatility.

Following its initial launch, USDD underwent changes, including contract upgrades and mechanism refinements, to improve its collateralization framework and enhance stability. These upgrades aimed to address evolving market conditions and enhance the security of the stablecoin.