TRON DAO Reserve Appoints Alameda Research as the First Member and Whitelisted Institution
Categories: Crypto News US
The TRON DAO Reserve has announced Alameda Research as the first Member and Whitelisted Institution to mint Decentralized USD (USDD), a fully decentralized stablecoin underpinned by mathematics and algorithms. The TRON DAO Reserve aims to support the global blockchain industry and crypto market, prevent panic trading caused by extreme market volatility, and mitigate long-term economic downturns.Alameda Research is a leading principal trading firm. They use internally developed technology and the team’s deep crypto expertise to trade thousands of digital asset products, including all major coins and altcoins and their derivatives. They have relentlessly built a globally focused team and infrastructure with the ability to trade on all major exchanges and markets since 2017. The TRON DAO Reserve intends to formulate and implement monetary and exchange rate policies, play the role of a lender of last resort to market participants, and maintain reserve assets of various blockchains and blockchain-powered financial institutions to minimize systemic risks and contribute to the stability of the overall market. The Reserve aims to stabilize the exchange rates of centralized and decentralized stablecoins on TRON and other blockchains by benchmarking interest rates and guiding the market through liquidity provision. It also manages the permissions of USDD as its early custodian and ensures its price stability with crypto reserves. This appointment lists Alameda Research as an approved collaborator to the Reserve, granting them the right to mint and the right to burn USDD. As a Member and Whitelisted Institution, Alameda Research will serve as an advisor and make recommendations to improve, enhance and provide general support to the USDD network. They will prepare for, attend, and be fully engaged in all Reserve membership meetings. They will also support the USDD community and raise awareness surrounding the USDD network and the use of USDD in general. TRON hosts the largest circulating supply of USD Tether stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the algorithmic stablecoin USDD was announced on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.