Justin Sun Introduces an Open Letter to Launch USDD in Tron DAO

Key Takeaways 

  • The founder of TRON DAO shares an Open letter introducing decentralized USD.
  • It is expected to be issued in the first week of May this year. 

Earlier today, the founder of Tron DAO, H.E. Justin Sun, issued an open letter on the “Issuance of USDD, a Decentralized Algorithmic Stablecoin on TRON.” He started his letter with notes on the stablecoins and how “Blockchain believers” want everything centralized to be soon turned into decentralized. 

Then he announced that TRON is collaborating with big blockchain players to launch decentralized USD, which is the “most decentralized stablecoin in human history.” USDD has made it possible for finance to not depend upon centralized bodies and has made it available to all utilizing the power of mathematics and algorithms. 

The founder then mentions the evolution of Stablecoin 2.0 eras from Stablecoin 1.0, and stated that “a great deal has changed fundamentally”. Earlier the transfer cost $100 and almost 30 minutes but now it can be done in a few seconds with the help of only a few cents. 

With the growth of stablecoins, TRON has also developed and is all set to start “a self-imposed revolution, pooling all its resources to create USDD, a fully decentralized stablecoin underpinned by mathematics and algorithms, bringing the development of stablecoin to the next level”. It aims to build ” the most efficient and affordable stablecoin network in the global DeFi ecosystem,” and to pave a path for the Stablecoins 3.0 era. 

He has also shared the roadmap of the decentralized USD that will reflect the initiatives taken by both mankind and TRON in “future space exploration” and has named the four phases 1.0 Space, 2.0 ISS, 3.0 Moon, and 4.0 Mars. The USDD on TRON DAO is expected to be issued and enter the process of circulation on May 5, 2022. 

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Shreya Bhattacharya

A journalist & writer exploring new topics every day!