USDD, Tron Stablecoin collapse June 2022

  • USDD is an algo stablecoin associated to Tron
  • Late on june 12 it broke its peg in a significant way and situation appears to be worsening as of June 14
  • It's associated coin TRX (tron) is also experienced significant downside volatility
  • It is one of the "partially collateralized" algo stable-coins
  • [appears to be under-collateralized][1]

[1]: 2022-06-12 - longish thread "And it's starting" https://twitter.com/resdegen/status/1536005536646320128

TODO:

  • describe background of USDD and TRX
  • brief info on justin sun
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