On Monday, the algorithmic decentralized USD (USDD) stablecoin on the Tron network dropped to $0.9695, its lowest level since June. A few hours ago, Curve Finance had almost $4 million USDD in liquidity taken from it, accounting for approximately 12.83% of the pool’s entire stake. Tron’s USDD on Curve has a drastically skewed USDD/3CRV liquidity pool, with USDD accounting for 86.1% of the total.
Justin Sun tweeted that he is deploying more capital to support USDD and emphasized that the algorithmic stablecoin has a 200% collateral ratio in an effort to calm the market.
Filed under: Bitcoin - @ December 12, 2022 9:25 am