Wintermute, a leading global algorithmic market maker in digital assets has been the newest member and whitelisted institution of the TRON DAO Reserve.
We strives to function as the decentralized crypto reserve while consolidating the value of #USDD as the true settlement currency.
Welcome more institutions on board! pic.twitter.com/8lHwTD4jev
— TRON DAO Reserve (@trondaoreserve) August 9, 2022
The newest member firm would act as one of the nine whitelisted institutions in the DAO that can mint and redeem the algorithmic stablecoin USDD. Asides from minting and redeeming USDD, they would also participate in TRON DAO’s activities to help stabilize the USDD’s value and can provide suggestions and recommendations to the TRON DAO Reserve to overall improve and stabilize the value of the USDD.
Wintermute will be joining as the eighth other members of the TRON DAO, which are Alameda Research, Amber, Ankr, FalconX, Poloniex, Mirana, Multichain, and TPS Capital.
What is Wintermute?
Wintermute is one of the largest cryptocurrency-making firms in the world focusing on high-frequency algorithmic trading and market-making services.
Wintermute is now a whitelisted member of the @trondaoreserve, group who governs the over-collateralized stablecoin USDD. As such, we have become one of the nine institutions in the DAO that can mint and redeem USDD. Read full article 👇https://t.co/hthHr8avB5
— Wintermute (@wintermute_t) August 10, 2022
Its firm provides digital asset liquidity algorithmically on most vetted crypto exchanges globally and offers competitive OTC prices in crypto across most tokens and also provides liquidity support for high-potential blockchain projects in the industry.
Wintermute is backed by the top venture capital investors such as Lightspeed, Pantera Capital, Sino Global Capital, Blockchain.com Ventures, Avon Ventures by Fidelity Investments, DeFi Alliance, just to name a few.
They provide liquidity to over 50 top exchanges and trading platforms in the world including Binance, Huobi, Coinbase, Kraken, FTX, Bitstamp, Bitfinex, and dYdX.
Wintermute was founded in 2017 by its CEO Evgeny Gaevoy who is a former Head of ETF market maker Optiver and its core team is based in London, England, and has an office in Singapore.
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.
There are nine members and whitelisted institutions under the TRON DAO Reserve.
Which company do you see joining the TRON DAO Reserve anytime soon? Let us know in the comments section below.
For more news and updates, see Tron Spark.