The USDD Upgrade is Justin Sun's "Top Priority" for Tron in Q4
The strategy for the last three months of the year was laid out by Justin Sun of Tron.
An independent stablecoin will get an update from the network.
With TRX backing the stablecoin, Bitcoin will follow "at the right time."
Today, Tron's creator Justin Sun said that, as a "top priority" for the network, they would be upgrading the USDD stablecoin during the fourth quarter of 2018.
Tron, an EVM-compatible Layer-1 blockchain, was founded in 2017, and according to DefiLlama, its total value locked (TVL) is $7.14 billion. In Q3, Tron's revenue hit a record high of $151.2 million, according to Messari's report from October 17th. This is a 29% increase from QoQ.
Quarterly Focus on Tron
On October 27, Justin Sun said in an X post that Tron's intention to upgrade USDD in the fourth quarter would make the token the "definitive" decentralized stablecoin in the cryptocurrency market. Sun cited TRX's market capitalization of $16 billion and liquidity depth of over $200 million as supporting this claim.
A stablecoin with a market cap of $3 billion would be well-supported by Tron's intrinsic value, which I anticipate will surpass $30 billion. Additionally, TRX may reliably earn on-chain profits with a yearly yield of above 10% when used as collateral. Sun penned the piece.
In addition to Ethereum's reliability in "some areas," Sun claims that Tron's history of stability—the token shown no 5% daily pullbacks for more than a year—makes it a more trustworthy option as collateral for a decentralized stablecoin.
The cryptocurrency tycoon said that by making reward accounts publicly viewable and disclosing release details, USDD issuance will highlight the crypto industry's greatest standards of openness.
According to Sun, Tron is planning to use Bitcoin—the most valuable cryptocurrency by market cap—as collateral for USDD "at the right time," with USDT acting as the stablecoin's primary PSM direct exchange route.
#Tron #USDD @Justin Sun孙宇晨 $TRX
