Tron founder Justin Sun revealed today that the network would upgrade the USDD stablecoin as its “top priority” in the last quarter of the year.

Founded in 2017, Tron is an EVM-compatible Layer-1 blockchain with $7.14 billion in total value locked (TVL), according to DefiLlama. Messari reported on October 17 that Tron’s revenue reached an all-time high of $151.2 million in Q3, representing a 29% increase quarter-over-quarter (QoQ).

Tron’s Priority in Q4

In an X post on October 27, Justin Sun said Tron’s plan to upgrade USDD in Q4 would position the token as the “definitive” decentralized stablecoin in the crypto market backed by TRX’s $16 billion market capitalization and over $200 million liquidity depth.

“I expect Tron's fundamental valuation to exceed $30 billion, which would comfortably support a stablecoin with a $3 billion market cap. As collateral, TRX can also generate reliable on-chain returns with an annualized yield of over 10%,” Sun wrote.
According to Sun, other qualities that make Tron a more reliable choice as collateral for a decentralized stablecoin than Ethereum in “some areas” include the token’s history of stability, which he claimed depicted no 5% daily pullbacks for over a year.

The crypto mogul noted that USDD issuance would emphasize the highest standards of transparency in the crypto industry by ensuring full visibility of reward accounts and sharing specific release parameters.

Sun further revealed that Tron is keen on adding Bitcoin, the world’s largest crypto asset by market cap, as USDD’s collateral “at the right time,” with USDT serving as the stablecoin’s primary PSM direct exchange channel.

Source : DailyCoin - Oct 27, 2024