TRON DAO Reserve, the entity which oversees the TRON-based stablecoins has added USDC to their stablecoin swap tool, PSM (Peg Stability Module).
🎊 Welcome to #USDC on our PSM (Peg Stability Module)!
⚖️ Swap between $USDD and $USDC at a 1:1 ratio now
✨ We are proud to offer more assets to our users while ensuring the stability of #USDD price!
🔗 https://t.co/NHm2iw01OB pic.twitter.com/7iSiL4qRLg
— TRON DAO Reserve (@trondaoreserve) August 18, 2022
USDC would be one of the three stablecoins supported on the PSM asides from USDT and USDD.
Using the PSM or Peg Stability Module, users could now swap between USDD and USDC at a 1:1 ratio with zero slippage and fees.
Besides TRON DAO Reserve’s PSM, SUN the first integrated platform for stablecoin swap, yield farming, and self-governance on TRON, also supported USDC on their PSM (Peg Stability Module) on SUN today.
📣PSM on https://t.co/KFtGKsS4xB now supports USDC
As #TRON DAO Reserve is upgrading PSM to support USDC to further improve the stability of #USDD price, PSM on SUN now supports users to exchange USDD to USDC at a fixed ratio of 1:1
Experience now: https://t.co/gejYh6Te0J pic.twitter.com/YXpB0lW4Dy
— SUN.IO (@defi_sunio) August 18, 2022
What is USDC?
USDC is a digital stablecoin pegged to the USD and it was founded by Circle, a global financial technology firm and the cryptocurrency exchange Coinbase.
USD Coin is managed by a consortium called Centre, which is an open-source technology project by Circle and Coinbase.
🎉The circulation amount of #TRC20–#USDC issued by @circlepay on the #TRON network exceeded 2 Billion!!!🔥🔥🔥
💪Today, #TRON has a strong alliance of 5 #TRON-based stablecoins: #USDT, #USDD, #USDJ, #TUSD, and #USDC. #TRON #stablecoin ecosystem looks excellent.🚀🚀🚀 pic.twitter.com/3Japp0mUYh
— TRON DAO (@trondao) May 17, 2022
USD Coin is the 2nd largest stablecoin in the market behind USDT (Tether) and it has a market cap of over 25 Billion USD. The stablecoin was first announced in May of 2018 and was launched in September of the same year.
USDC has a TRC20-based token called the USDC on TRON.
What is TRON DAO Reserve?
TRON DAO Reserve is a DAO system organized in a decentralized manner. It aims to safeguard the overall blockchain industry and crypto market, prevent panic trading caused by financial crises, and mitigate severe economic downturns.
It oversees the TRON-based stablecoins in the ecosystem and manages the Decentralized USD (USDD) on TRON as its early custodian and ensures its price stability with reserves.
Do you expect more stablecoins to be supported on TRON DAO Reserve’s stablecoin swap tool? Let us know in the comments section below.
For more news and updates, see Tron Spark.