Tron’s USDD Loses Dollar Peg, Slips Below $0.97

Tron’s algorithmic stablecoin, Decentralized USD, also known as USDD, fell deeper from its perch with the US dollar earlier today.

USDD dropped to slightly below 0.97 earlier today before recovering to around $0.98, the second time the stablecoin has slipped out of dollar parity since it was first founded earlier this year.

USDD can also be issued by the Tron DAO Reserve with tron coins and other collateral assets to maintain its value.

While the stablecoin’s main collateral is tron, the Tron DAO Reserve also maintains additional collateral in the firm of bitcoin and centralized stablecoins.

As the stablecoin lost its dollar peg, Tron founder Justin Sun said on Twitter that he purchased more than 1 million in USDD, helping to protect the peg.

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