ICYMI: Tron Dao buys $50M of Bitcoin and TRX to add to USDD reserves
Tron DAO Reserve, which manages algorithmic stablecoin USDD, said on Saturday that it had bought $50 million worth of Bitcoin and Tron .saying it was meant to “safeguard the overall blockchain industry and crypto market.”
Following the collapse of Terra’s algorithmic stablecoin in May, Tron earlier this month said it would significantly increase the amount of capital backing USDD,A reserve comprised of cryptocurrencies and other stablecoins was amassed to overcollateralize USDD and was guaranteed to be maintained at a minimum of 130% of the total amount of USDD in issuance.website from June 5. The ratio today was almost 193%.
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