Huobi Global, one of the biggest cryptocurrency exchanges in the world has listed 12 new trading pairs for TRON’s algorithmic stablecoin USDD.
Enjoy trading with 0 TRADING FEE for the rest of the year! 😎$USDD always has your back! 😉
— USDD (@usddio) November 8, 2022
The 12 newly listed trading pairs would be available for open spot trading and assures users that there would be no trading fees until the end of this year.
The 12 USDD trading pairs listed are the following:
Last October, Huobi Global added the USDD/BTC and USDD/ETH trading pairs to their platform.
What is Huobi Global?
Huobi is one of the most well-established digital crypto exchanges in the world since 2013 and they are one of the most dominant crypto exchanges in Asia.
The said exchange has a well-known reputation for being a safe and trustworthy place to buy, trade, store, earn and sell digital currencies. Currently, they are offering over 350 digital currencies on their platform and they have a growing number of users worldwide with over 60 payment methods for converting fiat into crypto.
They are one of the crypto exchanges that support fiat currencies and provide a variety of cryptocurrency markets that can be traded using the same user account. Users can take advantage of using their popular options such as Spot Exchange, Margin Exchange, Futures Market, Options, and USDT-Swaps.
Asides from the trading features of Huobi, they also have Huobi Staking which earns rewards for holding cryptos, and Huobi Earn, which offers flexible and fixed lock-up terms to earn interest on coins and tokens.
What is USDD?
USDD or the Decentralized USD is a stablecoin on the TRON blockchain and it is an algorithmic stablecoin that was issued as a TRC token on the TRON network.
It is one of the several TRC20-based tokens that has been granted statutory status as an authorized digital currency and medium of exchange in the Commonwealth of Dominica.
🔍 “The two most significant highlights in the comparison of Q3 with Q2 2022 were the 480.4% increase in the number of holders of #USDD and the 71% increase in the Total Value Locked of TRX.”https://t.co/EMEHNEWA1f
— USDD (@usddio) November 9, 2022
It will leverage the power of mathematics and algorithms to achieve the overarching goal of financial freedom for all. This is similar to the other algorithmic stablecoins.
TRON DAO Reserve serves as a transparent mechanism to fully manage the reserves backing the USDD.
The Decentralized USD algorithm will ensure that the stablecoin on the TRON blockchain maintains its US dollar peg regardless of the market conditions.
USDD is also available on Ethereum and BNB Chain through the BTTC cross-chain protocol.
For more news and updates, see Tron Spark.