By CryptoNews - 1 year ago - Reading Time: 1 minutes
Tron DAO Reserve to Deploy Another USDC 500M to Protect Stablecoin as Depeg Extends
The Tron DAO Reserve (TDR), the entity in charge of managing Tron-based stablecoins, aims to deploy another USD 500m worth of the stablecoin USD coin (USDC) to defend the peg of its algorithmic stablecoin USDD.
The move comes as USDD, despite being overcollateralized, has plunged to USD 0.96, further distancing from its intended peg of USD 1. At 8:24 UTC on Wednesday, the stablecoin has dropped by 2% over the past 24 hours and 3.8% over the past 7 days, according to CoinGecko....
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Original source: CryptoNews