USDD Archives

The former Huobi, HTX, has declared its intention to eliminate a number of USDD trading pairs. On September 12, 2024, 14 trading pairs—including DOGE/USDD, NEAR/USDD, and EOS/USDD—will be delisted. This modification was made soon after significant collateral withdrawals by the TRON DAO Reserve raised doubts about the USDD's stability. Upcoming Trading Changes and User Advisory In its September 9 press release, HTX advised users to cancel any open orders involving the affected pairs and explore alternative trading options. While the exchange did not specify the exact reasons for the decision, it emphasized that the move aims to provide users with a “better trading experience.” HTX’s action highlights a growing focus on the stability and security of assets amid recent developments surrounding USDD. The decision comes at a critical time, as market scrutiny around USDD has intensified. In August, the TRON DAO Reserve withdrew approximately $750 million in Bitcoin, significantly reducing the amount of Bitcoin backing the stablecoin. Following this withdrawal, USDD’s backing now largely relies on TRX, TRON's native cryptocurrency. TRON founder Justin Sun addressed the matter by justifying the reserve's activities in response to worries. Noting that it was not "very efficient" to maintain a collateralization rate above 300 percent, he assured consumers that the USDD is still stable. According to Sun, the stablecoin functions similarly to the DAI of MakerDAO, enabling the withdrawal of surplus collateral as long as the prerequisites of the system are fulfilled. Notwithstanding these promises, the market's continued caution is reflected in HTX's decision to delist USDD pairs, as investors continue to ask questions about the stablecoin's future.

USDD

HTX to Delist Multiple USDD Trading Pairs Despite Concerns Over Stablecoin Backing

TRON DAO Launches USDD Jointly with Blockchain Leaders