Wintermute has been named the ninth Member and Whitelisted Institution by the TRON DAO Reserve (TDR), giving it the rights to mint decentralized USD (USDD). Algorithmic trading firm Wintermute is a significant global player in the digital asset markets. USDD, on the other hand, is the over-collateralized decentralized stablecoin on the TRON, Ethereum, and BNB Chains. Under the terms of this agreement, Wintermute will be able to mint and burn USDD as a Reserve collaborator.
Wintermute’s entry and what it means for USDD
Wintermute supports over-the-counter (OTC) trading and provides liquidity across controlled as well as decentralized exchanges thanks to its daily trading volume of more than $5 billion on average. The USDD protocol operates on the TRON network. BTTC cross-chain protocol links it to Ethereum and BNB Chain, as well as other blockchains in the future.
USDD is unique among crypto-stablecoins because it was the first to use an over-collateralized decentralized system. In July 2022, it had more than $2.3 billion in funding and a market cap of $725 million. In the midst of market upheaval, the TDR, which governs the stablecoin, recognised the USDD’s elasticity in relation to the United States dollar.
TRX’s Linked Exchange Rate System (LERS) links USDD to TRX and ensures price stability through the TRON DAO Reserve. As a Member and a Whitelisted Institution, Wintermute will advise theTDR and provide recommendations to improve, expand, and provide general assistance for the USDD network.
The USDD has maintained its strength and stability in the face of recent market turmoil. Organic growth and full transparency are priorities for TDR, which is investing heavily in these areas. It was a logical experiment for the token value to be over-collateralized with transparent reserves and steadily stabilized. Despite multiple debates over industry-wide regulation, this portrays USDD as a formidable force.