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TRON (TRX) CEO Justin Sun has told his 3.3 million Twitter audience that the TRON decentralized autonomous organization (DAO) is soon launching its own stablecoin, Decentralized USD (USDD).
With the launch of USDD, Sun and his partners aim to decentralize the crypto industry’s most centralized sector of stablecoins, an open letter written by the CEO reads.
“TRON DAO joined hands with major blockchain players to launch USDD (Decentralized USD), the most decentralized stablecoin in human history, making finance accessible to all by applying mathematics and algorithms.
As a result, it enjoys perpetual existence without relying on any centralized entities.”
Sun is fuall-in on the new project and confirms that his smart contract platform which hosts over $55 billion in assets such as other stablecoin Tether (USDT), puts all its resources together for the creation of USDD:
“Four years into the launch of the TRON-based USDT, TRON has grown into the world’s largest stablecoin network, hosting more than $55 billion worth of financial assets…
Today, TRON is starting a self-imposed revolution, pooling all its resources to create USDD, a fully decentralized stablecoin underpinned by mathematics and algorithms, bringing the development of stablecoin to the next level.
By building the most efficient and affordable stablecoin network in the global DeFi ecosystem, TRON aims to usher stablecoins into the 3.0 era led by the TRON-based USDD.”
Launch date for USDD is May 5th and can also be availed on Ethereum (ETH) and Binance Chain (BNB).