{
  "url": "https://blockindex.ai/coin/usdd",
  "name": "USDD",
  "links": {
    "github": null,
    "website": "https://usdd.io/",
    "whitepaper": "https://usdd.io/USDD-en.pdf"
  },
  "dScore": 32,
  "market": {
    "priceUsd": 0.999055056200696,
    "marketCapUsd": 1370365769.5805693,
    "volume24hUsd": 58917771.74840325,
    "priceChange7dPct": 0.06122823,
    "priceChange24hPct": 0.01415136
  },
  "source": "BlockIndex.AI",
  "supply": {
    "max": null,
    "circulating": 1371661913,
    "circulatingPct": null
  },
  "ticker": "USDD",
  "founder": "Justin Sun",
  "vcFunded": false,
  "updatedAt": "2026-06-19T06:00:16.890929+00:00",
  "fairLaunch": false,
  "launchYear": 2022,
  "description": "USDD is an over-collateralized, multi-chain decentralized stablecoin originally launched on TRON on May 5, 2022 and administered by the TRON DAO Reserve (TDR). The protocol migrated through several iterations and in January 2025 introduced a major architectural upgrade branded USDD 2.0, which restructured the project into a collateralized debt position (CDP) model with an on-chain Peg Stability Module (PSM). Issuance and redemption are managed by whitelisted institutions under the TDR framework, with the stated objective of maintaining a $1 peg via conservative reserve management, diversified collateral (TRX, BTC and multiple fiat-backed stablecoins) and protocol-level yield allocation. The project emphasizes transparency—publishing migration announcements, treasury dashboards, and undergoing multiple third-party audits—while expanding cross-chain availability on Ethereum and BNB Chain to broaden liquidity and utility.\n\nTechnically, USDD is a token ecosystem rather than an independent blockchain. USDD primary deployments use the TRC-20 standard on TRON and have equivalent ERC-20 and BEP-20 deployments on Ethereum and BNB Chain; contract migrations associated with the USDD 2.0 upgrade were completed across chains in 2025. USDD 2.0 introduced CDP-style vaults and the Peg Stability Module to facilitate 1:1 swaps for peg maintenance, while also launching a Smart Allocator that directs reserve yield to audited liquidity strategies (Aave, JustLend, Spark). The product suite expanded to include sUSDD (an interest-bearing sToken) and sTRX/TRX vaults that enable minting against liquid staking tokens. The protocol has been subject to multiple ChainSecurity audits during the 2025 rollout, and messaging from TRON leadership has guided governance and migration coordination.\n\nUSDD’s primary use cases are payments, trading, programmable savings and DeFi collateral/minting. The stablecoin is used across centralized exchanges and AMM-based decentralized exchanges to provide USD-denominated liquidity and to enable yield strategies via sUSDD and vault products. Adoption activities in 2025 included yield-boost campaigns, promotional stability-fee reductions, KOL/content programs, and integrations such as Binance Wallet's \"USDD Yield+\". Holdings data and supply snapshots reported circulating supplies in the high hundreds of millions (source-dependent) and holder counts in the mid-hundred-thousands, underscoring broad on-chain distribution and exchange accessibility.\n\nEconomically, USDD operates with an over-collateralization policy, dynamic reserve ratios and the PSM to defend peg stability. Minting access is controlled by whitelisted minters within the TDR, and stability fees (which have been adjusted during promotional periods) are used to moderate minting incentives and finance yields. The protocol’s treasury and Smart Allocator are intended to generate yield for sUSDD and to provide financial buffers for peg defense. Market snapshots in 2025 show USDD trading close to $1, with market capitalizations reported between ~$798M and ~$835M across different data providers.\n\nGovernance is stewarded by the TRON DAO Reserve (a multi-institution custodian described in sources) with evolving community governance features introduced during the 2.0 upgrade. Governance remains hybrid in practice: operational minting and reserve management are performed by TDR institutions, while proposal and community processes have been incorporated to increase decentralization and transparency. The protocol roadmap in late 2025 prioritized multi-chain native launches, further sToken productization, treasury transparency (dashboard rollouts) and continued security audits and partnerships to reinforce peg resilience and ecosystem growth.",
  "methodology": "https://blockindex.ai/dscore",
  "classification": {
    "layer": "Layer 2",
    "isToken": true,
    "consensus": "N/A",
    "parentChain": "TRX"
  },
  "dScoreComponents": {
    "autonomy": 5,
    "ageHistory": 11,
    "governance": 16,
    "nodeDistribution": 0,
    "initialDistribution": 0
  },
  "decentralizationVerdict": "Centralized Leaning"
}