USDD
#65USDD
USDD
DeFi+1 · Decentralized Issuer+2USDD Metrics
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About & Links
About & Links
USDD is an over-collateralized stablecoin that is issued by the TRON DAO Reserve (TDR), which is also the custodian. The TDR is made up of nine crypto-native institutions. USDD’s value is backed by the over-collateralization of crypto assets under the TDR, including BTC, USDT, USDC, and TRX. The peg is maintained through the Peg Stability Module (PSM) that allows 1:1 transfer of USDD for USDT, USDC, TUSD, and USDJ. The PSM’s USDD funding is controlled by the TRON DAO Reserve. USDD can be minted by the whitelisted institutions of the TDR by depositing TRX.
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Biggest Stories of 2025
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TRX on Base Integration (December 19, 2025). TRON DAO announced an integration with Base, enabling TRX to be bridged directly onto the network using LayerZero infrastructure and its OFT standard for cross-chain transfers 3. This expanded TRON's interoperability and cross-chain reach.
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December 2025 DAO Treasury Vote for 2026 (December 10, 2025). The DIA community passed GDP 018, approving a 2026 treasury allocation of 9,150,000 DIA tokens across incentivization, operations, product development, and strategic reserves 4.
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USDD Yield Boost Campaign Phase XI (November 18, 2025). The USDD community launched a campaign increasing APYs up to 10% on JustLend DAO and HTX platforms, with yields calculated daily based on the previous day's TVL 5.
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sTRX & TRX Vaults Phase 8 (November 14, 2025). USDD launched Phase 8 of its sTRX & TRX Vaults campaign, running through October 15, 2026, reducing stability fees to as low as 0.5% for TRX-A, TRX-B, and TRX-C vaults and 1% for TRX vaults, making USDD minting more cost-effective 6.
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Growth You Can Trust (November 12, 2025). An article explained why USDD remained stable while other stablecoins lost their pegs during market volatility, attributing its resilience to conservative, leverage-free yield strategies, in-house management, and full on-chain transparency 7.
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Justin Sun at SmartCon 2025 (November 12, 2025). The TRON ecosystem reported over 340 million user accounts, $25 billion in total value locked, and an average of 9 million daily transactions, with USDD and PayPal USD strengthening its stablecoin ecosystem .
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ChainSecurity Fifth USDD Audit (October 30, 2025). ChainSecurity completed its fifth security audit of USDD since the USDD 2.0 upgrade, affirming high security standards across token integration and application mechanisms, especially on Ethereum and BNB Chain 9. The audit identified one low-severity issue and one informational finding, both resolved 10.
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How Stablecoins Are Evolving and How USDD Has Evolved (October 29, 2025). An article highlighted USDD's transformation into a decentralized, over-collateralized stablecoin pegged 1:1 to the US dollar, featuring a CDP model, a Peg Stability Module (PSM) for seamless swaps, and mechanisms like Smart Allocator and USDD Earn to generate sustainable yields 11.
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USDD Treasury Dashboard and JST Buyback & Burn (October 22, 2025). USDD launched a Treasury Dashboard providing quarterly updates on revenue, expenditure, and treasury balance, alongside a JST buyback and burn mechanism funded mainly by JustLend DAO's net revenue and USDD ecosystem revenue exceeding $10 million 12.
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USDD 2.0 Staking Campaign Phase X (October 11, 2025). The USDD team continued its 20% APY staking campaign across multiple DeFi platforms and exchanges including KuCoin, MEXC, Lbank, BitMart, and Gate.io, running from October 11 to November 8, 2025 13.
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Tron Inc. S-3 Filing (July 28, 2025). Tron Inc. filed a Form S-3 registration statement with the SEC seeking to offer up to $1 billion in aggregate of various securities, with its common stock listed on the Nasdaq Capital Market under the symbol "TRON" 14.
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USDDOLD Sunset Plan (July 3, 2025). The USDD team introduced a plan to sunset USDDOLD by September 30, 2025, involving gradual adjustment of risk parameters on lending protocols, reduction of the legacy PSM debt ceiling, removal from lending and trading platforms, and disabling minting and redemption on the legacy PSM 15.
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Smart Allocator Launch (June 20, 2025). USDD introduced Smart Allocator, a fully on-chain investment mechanism directing a portion of the stablecoin's cash reserves into external lending platforms, replacing yield subsidies previously provided by TRON DAO and passing a Chainsecurity audit 16.
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Gas-free USDT Transfers on Tron (February 26, 2025). Tron announced that gas-free USDT transfers on the Tron Network were "coming soon," with Justin Sun stating that USDT on Tron would go gas-free 17.
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USDD Earn T1 Limit Increases (February 3–8, 2025). The USDD team progressively increased the T1 (20% constant APY) supply limit from 100 million to 200 million USDD, then to 300 million USDD, with future limits to be dynamically adjusted based on market conditions 1819. The first phase of the USDD 2.0 staking campaign went live on February 1, 2025, enabling users to deposit USDD through the JustLend protocol and earn interest subsidized by the TRON DAO 20.
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USDD 2.0 Launch and Migration (January 23–25, 2025). Following approval of a proposal to upgrade USDD to a decentralized collateral minting model, Justin Sun announced the launch of USDD 2.0 on TRON, introducing community governance features and minting against TRX and USDT collateral 21. The USDDOLD token transitioned to USDD 2.0 on January 25, 2025, with migration open on the website and USDDOLD remaining fully operational at a 1:1 peg 22.
About & Links
About & Links
USDD is an over-collateralized stablecoin that is issued by the TRON DAO Reserve (TDR), which is also the custodian. The TDR is made up of nine crypto-native institutions. USDD’s value is backed by the over-collateralization of crypto assets under the TDR, including BTC, USDT, USDC, and TRX. The peg is maintained through the Peg Stability Module (PSM) that allows 1:1 transfer of USDD for USDT, USDC, TUSD, and USDJ. The PSM’s USDD funding is controlled by the TRON DAO Reserve. USDD can be minted by the whitelisted institutions of the TDR by depositing TRX.
USDD Profile
USDD Profile
In May 2022, USDD launched as a TRON-based algorithmic stablecoin by the TRON DAO and other major players. The stablecoin was initially listed on Ellipsis, SunSwap, Uniswap, PancakeSwap. TRON DAO detailed USDD as "Stablecoin 3.0" with stages (1.0 Space, 2.0 ISS, 3.0 Moon, 4.0 Mars); emphasized full on-chain decentralization, no centralized redemption.
By December 2022, USDD was upgraded from an algorithmic to an over-collateralized decentralized stablecoin (OCDS).
In March 2023, USDD launched on Optimism, through Velodrome - the central trading and liquidity marketplace - with the new USDD-USDT pool officially live.
By July, the team partnered with SEER and built a community to further expand the SocialFi field, SEER is a Web3 social value discovery protocol, launched on XPLUS and was listed on Bittrex Global.
By the end of 2023, the team introduced the Peg Stability Module (PSM) - a swap tool launched by the TRON DAO Reserve, that serves the purpose of maintaining the stability of USDD. Through PSM, users can effortlessly swap between USDD and other stablecoins (USDT, USDC, TUSD, USDJ) at a 1:1 ratio.
In January 2024, USDD partnered with FBPay to make progress in offering more payment options to web3 users. Also, USDD was integrated with Echooo wallet, powered by ERC-4337, which combines MPC & AI technology. USDD was also listed on Mercado Bitcoin, the largest crypto exchange in Brazil, through this collaboration, USDD can gain popularity and usage among a broader user base globally.
By March 2024, the team collaborated with BubbleAI to advance the use of USDD in the AI sector. BubbleAI is a professional off-chain data analysis platform that combines AI functions, with 3Hub.io to further expand Web3 users, and with Rubic
In June 2024, USDD and KODO joined forces to enhance the payment experience. June also marked the project's 2nd anniversary with a month-long celebration.
By July 2024, USDD teamed up with LePoker to launch a joint GameFi campaign, featuring a 250 USDD prize pool. At the same time, USDD collaborated with Bit.Store Card to kick off a marketing campaign.
In January 2025, The USDD 2.0 upgrade was announced by TRON founder Justin Sun following a governance proposal approval. The migration from USDDOLD to USDD 2.0 began on January 25, 2025, with the USDDOLD token remaining fully operational and maintaining its 1:1 peg.
In April 2025, the protocol launched the sTRX Vault on the TRON network after its successful launch of TRX Vault, allowing users to mint USDD against sTRX (Staked TRX) liquid staking tokens. This enhances capital efficiency by enabling users to earn staking rewards while using their assets as collateral. Furthermore, USDD was listed on Kraken.
By July 2025, as part of Campaign Phase 4, stability fees were reduced (TRX vault: 0.5%, sTRX: 1%) with a 30-day promo for yield stacking (stake TRX → sTRX → mint USDD at 12-20% APY).
In September 2025, the USDD protocol deployed its stablecoin on Ethereum, continuing the transition from USDD 1.0 to 2.0, and establishing USDD’s presence within DeFi's largest and most liquid Layer 1 ecosystem.
By October 2025, the sUSDD token achieved over $21M in TVL. Furthermore, USDD was also announced going live on BNB Chain on October 20, 2025, allowing users to obtain USDD via a PSM swap and earn yield by holding sUSDD. At the same time, the USDD Treasury Dashboard was launched to provide quarterly updates on the ecosystem's financial metrics, including revenue, expenditure, and treasury balance.