TRON DAO Reserve, the entity which oversees the TRON-based stablecoins has recently added USDJ as one of the latest cryptocurrencies to be supported on their swap tool Peg Stability Module (PSM).
🥂Excited to announce that #USDJ is now live on our #PSM (Peg Stability Module)! @DeFi_JUST
⚖Welcome to swap between $USDD and $USDJ at a 1:1 ratio!
☺#TDR will continue to provide more effective monetary policies to ensure the stability of #USDD.
🔗 https://t.co/NHm2iw01OB pic.twitter.com/izvo777GSl
— TRON DAO Reserve (@trondaoreserve) October 28, 2022
USDJ would have a 1:1 ratio with TRON’s algorithmic stablecoin USDD on PSM.
Currently, the TRON DAO Reserve’s Peg Stability Module supports the following stablecoins:
USDD
USDT
USDC
TUSD
USDJ
TRC20-USDJ is a decentralized stablecoin issued on the TRON blockchain and it is pegged to the value of the US dollar (USD).
What is Peg Stability Module?
PSM or Peg Stability Module is the stablecoin swap tool of the TRON DAO Reserve which is the entity that oversees the TRON-based stablecoins.
🤩 Introducing our new Peg Stability Module (PSM)!
🤑 Users can now exchange #USDT for #USDD at a fixed rate of 1:1 with 0 slippage!
Together we #BUIDL the best #StableCoin $USDD!
🔗 https://t.co/NHm2iw01OB pic.twitter.com/NdqTFqMKMH
— TRON DAO Reserve (@trondaoreserve) August 3, 2022
The stablecoin swap tool allows users to swap between USDD and other stablecoins at a 1:1 ratio.
What separates PSM from other swap platforms is its stable and competitive price with zero slippage and fees. This also helps in keeping the USDD peg close to $1 U.S. dollar during times when USDD demand outstrips USDD supply.
Users would be able to use the Peg Stability Module on the TRON DAO Reserve, Sun.io, and USDD’s websites.
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.
In just the span of a few months, PSM has already supported four popular stablecoins in the TRON blockchain, and do expect to see more to be added soon in the next following months.
For more news and updates, see Tron Spark.
Comments