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Decentralized USD basics
Decentralized USD
Stablecoins
USDD is a stablecoin issued by the TRON DAO Reserve. It’s pegged to the value of the US dollar and aims to provide a reliable, decentralized cryptocurrency for blockchain transactions. USDD can be used for payments, trading, staking and as a value store.
USDD is backed by a number of cryptocurrencies, including Bitcoin, Ethereum and TRON. To ensure stability and security, the reserve is over-collateralized, meaning that it holds more assets than the amount of USDD currently in circulation.
Decentralized USD token type
USDD
Algoritmic stablecoin
Trading
Decentralized USD (USDD) is a stablecoin primarily used for the following purposes in 2024:
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Stable Store of Value: USDD is designed to maintain a stable value of $1, making it a reliable store of value in the volatile cryptocurrency market. This allows users to hedge against price fluctuations of other cryptocurrencies.
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Medium of Exchange: USDD can be used for various transactions within the cryptocurrency ecosystem. It can be used to buy goods and services, pay for fees, or participate in decentralized applications (dApps).
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Collateral for DeFi Loans: USDD can be used as collateral for borrowing other cryptocurrencies or stablecoins on decentralized finance (DeFi) platforms. This provides users with access to liquidity and allows them to leverage their holdings.
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Trading Pair for Other Cryptocurrencies: USDD is often used as a trading pair for other cryptocurrencies on exchanges, providing a stable reference point for price discovery.
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Integration with Other Blockchains: USDD has been integrated with various blockchains beyond TRON, expanding its reach and usability. This allows users to interact with USDD across different ecosystems.
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Legal Tender in Dominica: USDD has gained legal tender status in the Commonwealth of Dominica, making it a recognized currency for everyday transactions within the country.
Overall, USDD offers a stable and decentralized alternative to traditional fiat currencies, providing a valuable tool for individuals and businesses operating within the cryptocurrency space.
Decentralized USD technology explained
Decentralized USD (USDD) is a stablecoin built on the TRON blockchain. It's designed to maintain a stable value of $1, similar to traditional fiat currencies like the US dollar. To achieve this stability, USDD employs a unique mechanism that involves a combination of reserve assets and algorithmic control.
Here's a breakdown of how USDD works:
- Reserve Assets: USDD is backed by a combination of reserve assets, including:
- USDC: A prominent stablecoin pegged to the US dollar.
- USDT: Another widely used stablecoin pegged to the US dollar.
- Other stablecoins: USDD may also be backed by other stablecoins that maintain a stable value.
- Government bonds: US government bonds can also be part of the reserve assets.
These reserve assets provide a foundation for USDD's stability by ensuring that there is sufficient value backing each USDD token.
- Algorithmic Control: In addition to reserve assets, USDD uses algorithmic control to maintain its peg to the US dollar. This involves a mechanism that automatically adjusts the supply of USDD tokens based on market conditions.
- If USDD's price falls below $1: The algorithm will automatically mint new USDD tokens and sell them on the market, increasing the supply and driving the price back up.
- If USDD's price rises above $1: The algorithm will automatically burn USDD tokens, reducing the supply and bringing the price back down.
This algorithmic control helps to ensure that USDD's price remains stable, even in volatile market conditions.
Key Features of USDD:
- Stability: USDD is designed to maintain a stable value of $1, providing a reliable store of value and medium of exchange.
- Decentralization: USDD is built on the decentralized TRON blockchain, ensuring that it is not controlled by any single entity.
- Transparency: The reserves backing USDD are publicly verifiable, providing transparency and trust.
- Interoperability: USDD can be used across various blockchains and decentralized applications.
Overall, Decentralized USD combines reserve assets and algorithmic control to provide a stable and decentralized alternative to traditional fiat currencies. This makes it a valuable tool for individuals and businesses operating within the cryptocurrency ecosystem.
Store Decentralized USD with Cropty cryptocurrency wallet by 3 simple steps:
- Download the app from the Apple AppStore or Google Play, or open your browser wallet.
- Create your Cropty wallet account with Face ID or Touch ID security options.
- Transfer USDD from external wallet.
Receive Decentralized USD to your Cropty wallet by QR-code, phone number, e-mail and nickname:
- Download the app from the Apple AppStore or Google Play, or open your browser wallet.
- Create your Cropty wallet account, set up a nickname.
- Click ‘Receive’ and follow the instructions.
You can transfer your Decentralized USD holdings and store it safely with Cropty wallet. Cropty secures safety of your holdings through various verification options like using password, authenticator app, Face ID, Touch ID and backup codes. You can be sure no one can get access to you Decentralized USD holding except you.
Start investing in Decentralized USD with Cropty cryptocurrency wallet by 3 simple steps:
- Download the app from the Apple AppStore or Google Play, or open your browser wallet.
- Create your Cropty wallet account, set your authentication settings.
- Transfer USDD from external wallet.
The Cropty wallet provides the most convenient application for storing and transfering Decentralized USD. Cropty targets to become one the best crypto wallets for Android and iOS in 2024. Cropty provides convenient application and secure custodial services, built for crypto beginners, as well as for crypto-savvies.
You can receive Decentralized USD donations instantly with Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Receive’ and follow simple instructions. Share your address with someone who wants to donate you in crypto.
You can receive Decentralized USD donations instantly with Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Receive’ and follow simple instructions. Share your address with someone who wants to donate you in crypto.
You can send Decentralized USD instantly without fee in the Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Send’, choose ‘Send via e-mail, phone number or nickname’ and follow simple instructions.
- Sign up to Decentralized USD wallet.
- Top up your balance with Decentralized USD.
- Store, trade or deposit your Decentralized USD.
- Get Decentralized USD deposit interest directly to your Cropty wallet.