YouTube investigator questions USDD

06/25 11:29

A new stablecoin called USDD (USDD), a cryptocurrency issued by the TRON DAO Reserve, has been called into question by Stephen Findseisen, a.k.a. Coffeezilla. Indeed, the YouTuber explained in his video published on June 24 about a potential Ponzi scheme with the newly issued stablecoin. After the collapse of the Terra (LUNA) ecosystem, Findseisen highlighted a few key similarities and distinctions between the two coins and highlighted that the Ponzi-like currency claim as DeFi is not entirely accurate. The Tron DAO Reserve now has a portfolio of multiple cryptocurrencies worth a total of $2.31 billion, which it uses to back the entire amount of coins that are currently in circulation. The reserve assets that USDD is protected by the over-collateralization of a variety of major digital assets such as TRX, BTC, and USDT. When the collateral ratio is set at 130%, the entire value of the assets that have been collateralized is much more than the amount of USDD that is currently in circulation.
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