Discover and read the best of Twitter Threads about #USDD
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2023 brings its fair share of challenges, but we at #TRON are more committed than ever to achieving our goals! Our focus remains on the growth of the #stablecoin, #USDT #TUSD #USDD #USDC #USDJ on #TRON. We aim to grow our stablecoin market cap from $40 billion to $60 billion.
As we navigate these testing times, we'll continue to innovate and improve upon our infrastructure, ensuring that our users have a secure, reliable, and efficient platform to conduct their transactions. 🛡️ Your trust in us fuels our drive to deliver the best services possible.
🚨New Updates on the Harmony Bridge Hack 🚨
On June 23rd of 2022, the Harmony bridge fell victim to a devastating attack that resulted in a loss of approximately $100 million.
On June 23rd of 2022, the Harmony bridge fell victim to a devastating attack that resulted in a loss of approximately $100 million.
Following up on our last investigation, The Lazarus Group, a North Korean hacker organization, is suspected of being responsible for the Harmony bridge attack and had transferred funds to multiple exchanges.
1/ $USDD is not safe!
#USDD has been depegged since Nov 9 and has not returned to the peg!
#USDD reserves decreased by 548M $USDC
Justin Sun used the 350M $USDC in the reserve to repay the loan in #Justlend.
The real Collat. Ratio is only 50%!
Here is some evidence.👇
#USDD has been depegged since Nov 9 and has not returned to the peg!
#USDD reserves decreased by 548M $USDC
Justin Sun used the 350M $USDC in the reserve to repay the loan in #Justlend.
The real Collat. Ratio is only 50%!
Here is some evidence.👇
2.
#USDD has been depegged since Nov 9 and has not returned to the peg!
Now the trading price is $0.9812.
And #USDD accounts for 81.25% of the Curve USDD/3CRV pool.
#USDD has been depegged since Nov 9 and has not returned to the peg!
Now the trading price is $0.9812.
And #USDD accounts for 81.25% of the Curve USDD/3CRV pool.
3.
On Nov 10, #TRON still had 990M $USDD in its reserves, and now there is only 442M $USDC left.
548M $USDC disappeared? @justinsuntron
On Nov 10, #TRON still had 990M $USDD in its reserves, and now there is only 442M $USDC left.
548M $USDC disappeared? @justinsuntron
1/ As @trondao's $USDD returned to peg following the Q2 chaos, supply growth stagnated.
A positive growth metric was the number of wallets holding $USDD which saw 5x growth over Q3.
The increased adoption is needed for $USDD supply and $TRX value.🧵
A positive growth metric was the number of wallets holding $USDD which saw 5x growth over Q3.
The increased adoption is needed for $USDD supply and $TRX value.🧵
2/ ~$USDD supply / $TRX Deposit
9B $TRX was deposited in the first 5 months of $USDD's launch.
$USDD supply increased 0.2% in Q3, leaving room for growth.
$USDD has also expanded to @Binance and @Ethereum.
9B $TRX was deposited in the first 5 months of $USDD's launch.
$USDD supply increased 0.2% in Q3, leaving room for growth.
$USDD has also expanded to @Binance and @Ethereum.
3/ ~Reserves
$USDD appears sufficiently backed by non-native collateral in the form of $BTC, $USDT, and $USDC.
While not included in collateral backing due to its reflexive nature, the @trondao Reserve (TDR) could sell $725M of TRX to back $USDD.
$USDD appears sufficiently backed by non-native collateral in the form of $BTC, $USDT, and $USDC.
While not included in collateral backing due to its reflexive nature, the @trondao Reserve (TDR) could sell $725M of TRX to back $USDD.
a lot of stablecoin depeg in last 2 months #Crypto
Don't forget about other crypto who's depeg also, such as #stETH
🚨¿LAS STABLECOINS EN PELIGRO?🚨
Tras lo sucedido con #Celsius, hemos visto como algunas de las principales #Stablecoins del mercado han comenzado a tambalearse de nuevo haciendo saltar todas las alarmas 🚨
Pero, ¿Por qué está pasando esto?
Abro Hilo 🧵 1/18
Tras lo sucedido con #Celsius, hemos visto como algunas de las principales #Stablecoins del mercado han comenzado a tambalearse de nuevo haciendo saltar todas las alarmas 🚨
Pero, ¿Por qué está pasando esto?
Abro Hilo 🧵 1/18
2/18
Todo comenzó el pasado Lunes 13 de Junio, cuando tras el anuncio de la pausa en los retiros, Celsius se desplomó más de un 70%.
Una caída que arrastró al resto del mercado, y que ha puesto en el punto de mira a las #StableCoins...
Todo comenzó el pasado Lunes 13 de Junio, cuando tras el anuncio de la pausa en los retiros, Celsius se desplomó más de un 70%.
Una caída que arrastró al resto del mercado, y que ha puesto en el punto de mira a las #StableCoins...
0/ June 8 - 14 was severe for crypto and the broader financial markets as the U.S. CPI resulted in a strong reaction.
$BTC recorded red candles every day from June 7, which meant there was not enough buying power. The intensified sell-off on June 13 caused a $4,100 loss for it.
$BTC recorded red candles every day from June 7, which meant there was not enough buying power. The intensified sell-off on June 13 caused a $4,100 loss for it.
1/ In this period:
$BTC briefly touched $20.8k, falling by 29% in a week
$ETH traded below $1.2k, down ~75% from ATH
The total crypto market cap dropped below $1T
The Crypto Fear & Greed index touched 8 points
Over 240,000 traders suffered from losses in $1.3B crypto liquidations
$BTC briefly touched $20.8k, falling by 29% in a week
$ETH traded below $1.2k, down ~75% from ATH
The total crypto market cap dropped below $1T
The Crypto Fear & Greed index touched 8 points
Over 240,000 traders suffered from losses in $1.3B crypto liquidations
2/ $ETH lost its share of the total market cap due to several reasons. The troubles with its #DeFi space, or $stETH "depegging" & @CelsiusNetwork insolvency crisis, plus the delayed difficulty bomb caused the mess.
ETHBTC ratio slid from the high of 0.076 on May 11 to 0.0509.
ETHBTC ratio slid from the high of 0.076 on May 11 to 0.0509.
1/ I figured up Justin Sun's game with #USDD.
It's plainly obvious.
He plans to finish what Do Kwon failed to do.
Buy as much #BTC as possible now & then when it pumps, print more #USDD until the limit!
He's going long on BTC & will cash in into #USDD.
Next 👇
It's plainly obvious.
He plans to finish what Do Kwon failed to do.
Buy as much #BTC as possible now & then when it pumps, print more #USDD until the limit!
He's going long on BTC & will cash in into #USDD.
Next 👇
2/ They just bought 100 mil USDT worth of BTC in their reserve. They used to have 240 mil USDT before (see pics).
If Justin plays this right, he can print 10x more USDD in the future just due to BTC appreciating in price.
If he plays it wrong, he will risk USDD de-pegging. 👇
If Justin plays this right, he can print 10x more USDD in the future just due to BTC appreciating in price.
If he plays it wrong, he will risk USDD de-pegging. 👇
3/ Luckily, he has 7 bil in #TRX market cap to defend the USDD peg as USDD mcap is still low.
With a bit of luck, USDD won't grow too much and during the coming bull market he can cash in billions as BTC / TRX pumps.
Not a bad game plan. Do Kwon will be jealous. 👇
With a bit of luck, USDD won't grow too much and during the coming bull market he can cash in billions as BTC / TRX pumps.
Not a bad game plan. Do Kwon will be jealous. 👇
1/ I received a lot of requests to look into #Freeway.
It promises 43% yield/year. 🤔
After Anchor crashed, many of you are eager to lose your money again. I have to oblige & warn you again!
"Is it safe? Should I send them all my money?"
Time to find out.
An exposé thread 👇
It promises 43% yield/year. 🤔
After Anchor crashed, many of you are eager to lose your money again. I have to oblige & warn you again!
"Is it safe? Should I send them all my money?"
Time to find out.
An exposé thread 👇
2/ What is Freeway?
A rebrand of AuBit, founded in 2017.
They started the old fashion way in TradFi & then realized crypto is the new ball game.
Enter Sadie, a new fresh face with experience in crypto (the "CEO").
Spot anything suspicious? 👇
A rebrand of AuBit, founded in 2017.
They started the old fashion way in TradFi & then realized crypto is the new ball game.
Enter Sadie, a new fresh face with experience in crypto (the "CEO").
Spot anything suspicious? 👇
3/ Their whole team is made of old hats with a lot of TradFi experience turned into "crypto experts".
Sadie is just the new face of the rebranded AuBit now called Freeway. She's after your cash & she's excellent at marketing.
So what is going on here, really? 👇
Sadie is just the new face of the rebranded AuBit now called Freeway. She's after your cash & she's excellent at marketing.
So what is going on here, really? 👇
1/ #USDD is NOT a stablecoin! WHAT? 😲
Here's my review of the USDD cryptocurrency on #Tron network. #TRX
Read the above again. This is the label they used for USDD in their whitepaper!
A clear red flag & there are more.
You asked & I delivered. A thread. 🧵
👇👇👇
Here's my review of the USDD cryptocurrency on #Tron network. #TRX
Read the above again. This is the label they used for USDD in their whitepaper!
A clear red flag & there are more.
You asked & I delivered. A thread. 🧵
👇👇👇
2/ What is #USDD?
USDD is a cryptocurrency native to #Tron network.
This is nothing big on its own.
However, if you thought USDD was a regular stablecoin, I got a surprise for you. 👇
USDD is a cryptocurrency native to #Tron network.
This is nothing big on its own.
However, if you thought USDD was a regular stablecoin, I got a surprise for you. 👇
3/ Check out this abstract from the USDD whitepaper.
Highlights are mine.
Let me dissect that for you in more detail below.
There is a reason the whitepaper is so... vague.
It's pretty obvious what's going on. 👇
Highlights are mine.
Let me dissect that for you in more detail below.
There is a reason the whitepaper is so... vague.
It's pretty obvious what's going on. 👇
In Part I of the stablecoin long read thread I outlined the conditions that led to the $UST disaster. BUT (!) decentralized stablecoins are a beautiful concept that definitely has a future.
1/ So, the topic for Part II is $USN – @NEARProtocol's native stablecoin.
1/ So, the topic for Part II is $USN – @NEARProtocol's native stablecoin.
2/ If you missed the first part, then it is better to start researching the topic with it.
There I described the main prerequisites that led to the collapse of the #UST and options for how this could have been avoided.
There I described the main prerequisites that led to the collapse of the #UST and options for how this could have been avoided.
3/ #USN by @DcntrlBank is a fully collateralized decentralized stablecoin backed by $NEAR and $USDT with more assets to be added soon. The peg is maintained by on-chain arbitrage and rebalancing of the treasury to ensure stability in any market conditions.
1/ Time to dispel the myths around #Terra / #Luna / #UST once & for all!
Is it decentralized? Is UST a stablecoin? Is it #SAFU?
What are the alternatives???
Are you with me?
Here's the thread you've been waiting for. 👇
Is it decentralized? Is UST a stablecoin? Is it #SAFU?
What are the alternatives???
Are you with me?
Here's the thread you've been waiting for. 👇
2/ Before I debunk the most important myths about Terra, I suggest you check my earlier thread on this to understand the context better.
Ready? Let's start with myth number 1. 👇
Ready? Let's start with myth number 1. 👇
3/ Myth number 1:
🚨 "Terra / Luna / UST is decentralized."
Verdict: FALSE ❌
I can explain, lets's look at the Terra / Luna network first and then UST. 👇
🚨 "Terra / Luna / UST is decentralized."
Verdict: FALSE ❌
I can explain, lets's look at the Terra / Luna network first and then UST. 👇
(1/5)🙌#TRON DAO joined hands with major #blockchain players to launch #USDD (Decentralized USD), the most #decentralized #stablecoin in human history.
💪 Today, we see the possibility of decentralizing the blockchain world’s most centralized territory.
💪 Today, we see the possibility of decentralizing the blockchain world’s most centralized territory.
(2/5)🧐In the history of #blockchain, #stablecoin has gone through the 1.0 and 2.0 eras represented by #Omni-based and #TRON-based #USDTs. Now it has ushered into the Stablecoin 3.0 era led by #TRON’s #USDD.
hejustinsun.com/post/an-open-l…
hejustinsun.com/post/an-open-l…
(3/5)🚀#USDD will also be available on #Ethereum and #BNB Chain through the #BTTC cross-chain protocol. Prominent institutions in the #blockchain space are welcome to support the #USDD issued on #TRON, #Ethereum, and #BNB Chain.
trondao.medium.com/an-open-letter…
trondao.medium.com/an-open-letter…
(1/6)💪It is time to build a decentralized reserve dedicated to the blockchain industry.
🚀The #TRON network is now taking a step further to found the TRON DAO Reserve, the #blockchain industry’s first decentralized reserve. #TRONDAOReserve
🚀The #TRON network is now taking a step further to found the TRON DAO Reserve, the #blockchain industry’s first decentralized reserve. #TRONDAOReserve
(2/6)⚒️#Blockchain today is undergoing a laissez-faire market of more than $1 trillion. With no constraint from macroprudential regulation, it will only end up damaging crypto stakeholders’ interests.
🙌The time has come for a decentralized reserve.
hejustinsun.com/post/an-open-l…
🙌The time has come for a decentralized reserve.
hejustinsun.com/post/an-open-l…
(3/6)👏Four years into its inception, #TRON has grown into the world’s largest stablecoin network. It boasts over $55 billion in financial assets, including stablecoins on-chain, and has settled and cleared total financial assets of over $4 trillion.
trondao.medium.com/an-open-letter…
trondao.medium.com/an-open-letter…
