- This topic has 12 replies, 2 voices, and was last updated 6 months, 4 weeks ago by _srsh_.
- Sunday, May 15th, 2022 at 06:35 #273793akatipParticipant
It launched like 2 weeks ago and he’s shilling insane rates (20-40%) on his twitter.
White paper – [https://usdd.io/USDD-en.pdf](https://usdd.io/USDD-en.pdf)
Tron interview with coindesk about USDD [https://www.coindesk.com/markets/2022/05/14/justin-sun-talks-usdd-stablecoin-in-wake-of-lunaust-unravel/](https://www.coindesk.com/markets/2022/05/14/justin-sun-talks-usdd-stablecoin-in-wake-of-lunaust-unravel/)
“I still believe in algorithmic stablecoins,” he told CoinDesk in a Zoom interview, which was scheduled before any of the market turmoil surfaced.
Hmmm, so USDD will maintain its peg by a minting/burn process that will convert one USDD to $1 worth of TRX, the native token of the Tron blockchain. And $1 worth of TRX could be burned to mint one USDD.
SOUND FAMILIAR? lmao.Sunday, May 15th, 2022 at 06:38 #273794Bucksaway03
Don’t do it people. Please don’t do it.
Take it from someone who just lost big on UST.Sunday, May 15th, 2022 at 06:38 #273798Weezthajuice
Fuck JustinSunday, May 15th, 2022 at 06:45 #273795Socialinfluencing
He so desperately wants to stay relevant that he’s willing to have a foot race with Luna into the Guinness world record for fastest failing crypto.Sunday, May 15th, 2022 at 06:54 #273797Far-Scholar9028
Time to short trx? Best risk/returnSunday, May 15th, 2022 at 06:55 #2737993vTAC
i’ll short it when its available on my exchange, this might be a good gambleSunday, May 15th, 2022 at 06:55 #273800Complete-Elk-1913
Strange he wants to back his stable coin with the most shittest token and ecosystemSunday, May 15th, 2022 at 06:56 #273801CorneliusFudgem
USDD is UST2.0 😉Sunday, May 15th, 2022 at 06:56 #273802DriverPrudent
Justin’s huge ego would never allow USDD to get rugged. Don’t forget that he is a huge BTC whale and a good friend with CZ. Again everything is possible, invest only what you can afford to lose.Sunday, May 15th, 2022 at 06:57 #273796Red_n_Rusty
Being an algorithmic stablecoin does not mean that the stablecoin is automatically bad or risky. They key here is what is used to back the algorithmic “stable” coin.
DAI for example is an algo stablecoin that is overcollateralized and assets like USDC and ETH are used for the backing. This is not the same as a “stable” coin that is only backed by volatile crypto assets, let alone a crypto asset that is not even in the top 10.Sunday, May 15th, 2022 at 06:57 #273803DecoupledPilot
Lets call it full “algorithmic” so that people dont get confused about ALGO. 😛Sunday, May 15th, 2022 at 06:59 #273804Wargizmo
Yeah looks shady as fuck. I’ll stick to the US double D’s on pornhub thanks.Sunday, May 15th, 2022 at 07:14 #273805_srsh_
tron is the only stable coin this guy needs
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Related Forum Topics:
- → A stablecoin implosion is not even over, yet Poloniex (owned by Justin Sun) is already calling USDD stablecoin as “trustable”. USDD is virtually build with same ponzinomics, except its run on Tron. Pathetic.
- → USDD is depegging fast! Justin Sun recently bought a lot of BTC to back this USDD. It seems these will be sold imminently to support the peg. Another big dump could be imminent
- → USDD and TRX, Another case of a algorithmic stable coin?