{"id":462054,"date":"2022-06-13T13:38:55","date_gmt":"2022-06-13T10:38:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/usdd-stablecoin-falls-to-0-97-dao-inserts-700m-to-defend-the-peg\/"},"modified":"2022-06-13T13:38:55","modified_gmt":"2022-06-13T10:38:55","slug":"usdd-stablecoin-falls-to-0-97-dao-inserts-700m-to-defend-the-peg","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/usdd-stablecoin-falls-to-0-97-dao-inserts-700m-to-defend-the-peg\/","title":{"rendered":"# USDD stablecoin falls to $0.97, DAO inserts $700M to defend the peg"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3df6072bab4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3df6072bab4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/usdd-stablecoin-falls-to-0-97-dao-inserts-700m-to-defend-the-peg\/#%E2%80%9D_USDD_stablecoin_falls_to_097_DAO_inserts_700M_to_defend_the_peg_%E2%80%9C\" >&#8221; USDD stablecoin falls to $0.97, DAO inserts $700M to defend the peg &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_USDD_stablecoin_falls_to_097_DAO_inserts_700M_to_defend_the_peg_%E2%80%9C\"><\/span>&#8221; USDD stablecoin falls to $0.97, DAO inserts $700M to defend the peg &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNWMwYjMyNzktM2NlNC00ZjM4LWFkY2UtNGM0NTFlNTEzYjFmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>While the market has not yet fully recovered from the onslaught caused by the TerraUSD (UST) depeg, another stablecoin project shows signs of distress, causing fears and speculation within the community.\u00a0<\/p>\n<p>Stablecoin protocol USDD\u2019s price dipped to $0.97 on major crypto trading platforms on Monday. Because of this, the market started to keep an eye on the project with fears that the project will follow the footsteps of Terra (LUNA). CurveSwaps, a bot that monitors large asset transfers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CurveSwaps\/status\/1536210153627860992\">flagged<\/a> that $1 million USDD was recently sw<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed to 997,339 Tether (USDT). <\/p>\n<p>On the other hand, blockchain analytics platform Nansen has also detected that one of the funds that capitalized on the UST depeg has started actively transferring larger amounts of USDD and other stablecoins. Nansen_intern tweeted: <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Oapital (labelled on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nansen_ai?ref_src=twsrc%5Etfw\">@nansen_ai<\/a>), one of the funds involved in capitalising off of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UST&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UST<\/a> de-peg is now actively making large transfers of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24USDD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDD<\/a> and other stables.<\/p>\n<p>Doesn&#8217;t look great. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/DBoubXoWvu\">pic.twitter.com\/DBoubXoWvu<\/a><\/p>\n<p>\u2014 Nansen Intern  (@nansen_intern) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nansen_intern\/status\/1536271256290476032?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nLooking at data regarding USDD&#8217;s collateralization, researcher Resdegen argued that looking at the stablecoin&#8217;s backing, USDD is only 92% collateralized. Without considering Tron (TRX), the ratio falls down to 73%. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ And it&#8217;s starting<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24USDD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDD<\/a> is currently just 92% collateralized by the Reserves (even considering <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24TRX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TRX<\/a> funds) \u26a0\ufe0f<\/p>\n<p>If you subtract <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24TRX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TRX<\/a>, it turns out collateralization ratio is currently 73%<\/p>\n<p>Also, the 140M <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDT<\/a> are not really USDT, but jUSDT  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/fKYaIQEd1D\">pic.twitter.com\/fKYaIQEd1D<\/a><\/p>\n<p>\u2014 Res \u00ae\ufe0f (@resdegen) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/resdegen\/status\/1536005536646320128?ref_src=twsrc%5Etfw\">June 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In response to the \u201cextreme market conditions,\u201d the Tron DAO Reserve recently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/trondaoreserve\/status\/1536264192033972226\">announced<\/a> that it received 700 million USD Coin (USDC) to defend the USDD peg. With this in play, the team behind the stablecoin\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/usddio\/status\/1536271471194038275\">explained<\/a> that the collateralization ratio of USDD is now boosted to 300%. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Deus Finance\u2019s dollar-pegged stablecoin DEI falls below 60 cents<\/em><\/strong><\/p>\n<p>In May, the USDT-dollar peg also showed signs of wobbling, as the stablecoin traded below $0.99 on some exchanges. However, Paulo Ardoino, the chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer of Tether, assured users that, unlike other stablecoins, the project holds a &#8220;strong, conservative and liquid portfolio,&#8221; explaining that they are capable of maintaining USDT&#8217;s dollar peg. <\/p>\n<p>In the same month, DEI, the dollar-pegged stablecoin by Deus Finance also failed to maintain its peg. The algorithmic stablecoin took a dive around $0.52 cents, dropping from $100 million in market capitalization to $52 million. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/usdd-stablecoin-falls-to-0-97-dao-inserts-700m-to-defend-the-peg\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; USDD stablecoin falls to $0.97, DAO inserts $700M to defend the peg &#8220; While the market has not yet fully recovered from the onslaught caused by the TerraUSD (UST) depeg, another stablecoin project shows signs of distress, causing fears and speculation within the community.\u00a0 Stablecoin protocol USDD\u2019s price dipped to $0.97 on major crypto&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNWMwYjMyNzktM2NlNC00ZjM4LWFkY2UtNGM0NTFlNTEzYjFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,74863,75493,34446],"class_list":["post-462054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-cryptocurrencies","tag-stablecoin","tag-tron"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=462054"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462055"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}