On August 18, Justin Sun, founder of TRON, tweeted that the USDD stable currency exchange tool PSM (Peg Stability Module) launched by TRON DAO Reserve added support for USDC. Users can exchange 1:1 fixed exchange rate between USDD and USDC through PSM, and the exchange process has zero slippage and zero handling fee.
PSM (Peg Stability Module) is a stable currency exchange tool launched by the Fed, which can provide users with a more stable and advantageous exchange price, and help stabilize the price pegged at around $1 when the USDD demand exceeds the supply. In addition to USDC, users can also use PSM to complete a 1:1 fixed exchange rate exchange between USDD and USDT.
As a stable currency exchange tool, PSM introduces a more stable peg for USDD, thus achieving the goal of improving the price stability of USDD. After PSM supports more stable coins in the future, the stability effect will be strengthened with the increase of coins and the increase of mortgage scale. In addition, PSM also provides a new trading center between different stablecoins. Each stablecoin can be exchanged at a fixed exchange rate of 1:1 through the intermediary of USDD. While enriching the application scenarios of USDD, it also promotes USDD Further stabilization and growth of the ecosystem.
USDD is the world's first decentralized hyper-collateralized stablecoin initiated by the TRON and mainstream blockchain institutions. It runs on the TRON network and is connected to mainstream public chains such as Ethereum and Binance Chain through the BTTC cross-chain protocol. USDD is endorsed by over-collateralization of a variety of mainstream digital assets, including TRX, BTC, USDT, etc. The basic mortgage rate remains above 130%, making it the safest decentralized stable currency in the entire network, and provides 24-hour real-time public inquiry of the pledge rate . At present, the total issuance has exceeded 740 million US dollars, and the total pledge has reached 2.3 billion US dollars.
The Wave Federal Reserve was established by TRON. The main purpose is to protect the blockchain industry and market, alleviate extreme and long-term downturns, and solve the panic problem caused by the financial crisis. As one of the three major public chains in the world, the number of TRON users has exceeded 100 million, and the number of transactions has exceeded 3.7 billion. At present, the stable currency circulation of TRON has surpassed USDT on Ethereum, ranking first in the world. The overall scale of stablecoins and financial assets on its chain exceeds 55 billion US dollars, and the cumulative settlement reaches 4 trillion US dollars, and it is in a leading position in the industry application of popular smart contracts such as DeFi, NFT, stablecoins, and distributed storage protocols.
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