USDD icon USDD
Price Chart and USDD News

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USDD icon

Ranked # 124

Price

$0.99 (0%)

All Time High

$1.05 (-6%)


Market Cap

$716,301,991

Volume (24h)

6,902,102

Circulating Supply

725,332,034 USDD

Today's USDD Price Summary

USDD's price today is $0.99 USD, with a 24-hour trading volume of $6,902,102 USD. USDD is up 0.20% in the last 24 hours. USDD is currently ranked #124 with a market capitalization of $716,301,991 USD.

About USDD

The USDD, or 'decentralized USD,' is a stablecoin pegged to the US dollar and managed by a TRON-based DAO. This algorithmic stablecoin was launched in April 2022 by crypto entrepreneur Justin Sun, founder of the TRON Network. With a market cap of $725 million, it ranks among the top ten stablecoins.

Maintaining Stability and the USD Peg

Unlike other algorithmic stablecoins that rely solely on mathematical algorithms for stability, USDD positions itself as an over-collateralized stablecoin. It's backed by a diversified basket of crypto assets including Bitcoin (BTC) and USD Coin (USDC). This over-collateralization aims to prevent de-pegging from the USD, ensuring each USDD in circulation is backed by more than twice its value.

Unique Features

USDD employs several mechanisms to maintain its stability. A mint-and-burn mechanism helps keep the price pegged 1:1 to the USD. When USDD’s price deviates from 1 USD, users can burn or mint coins accordingly to restore balance. Additionally, the Peg Stability Module (PSM) allows users to swap their tokens with other stablecoins at a 1:1 rate with zero slippage.

The Role of Super Representatives

The stability of USDD is also maintained through Super Representatives - individual holders of TRX tokens who play a role during periods of high volatility. These representatives help ensure price stability and are voted into position by other TRX holders.

Price History & Depeg Concerns

Despite initial concerns about de-pegging when the coin price fell below $1 shortly after launch, USDD has since stabilized. Even during the FTX collapse in November 2022, when USDD depegged slightly, balance was quickly regained.

Sources:

What is USDD All-Time High price (ATH)?

On October 23rd, 2023 10:45:25 PM, USDD hit a historic high of $1.052 USD. It has been about 6 months ago since USDD reached its peak.

What is USDD All-Time Low price (ATL)?

On June 19th, 2022 04:15:11 PM, USDD reached a bottoming price of $0.9280670000 USD. About 1 year ago has passed USDD has seen such a low price.

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add active $0.99  on  Apr 25, 2024 


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