TRON DAO Reserve appoints Alameda Research the First Member of Whitelisted Institution Alameda Research has been named the TRON DAO Reserve’s first Member and Whitelisted institution to mint Decentralized USD (USDD), which is a fully decentralized stablecoin that is backed by mathematics and algorithms. TRON DAO reserves aims to support global blockchain and crypto markets, stop panic trading caused extreme market volatility and reduce long-term economic downturns.
Alameda Research, a top principal trading company, is one of its key players. They use internally developed technology and the team’s deep crypto expertise to trade thousands of digital asset products, including all major coins and altcoins and their derivatives. They have been relentlessly building a globally focused team, infrastructure and the ability to trade at all major markets and exchanges since 2017. TRON DAO Reserve is a reserve that will formulate and implement monetary, exchange rate and policy policies. It will also play the role as a lender last resort for market participants and maintain reserve assets from various blockchains and Blockchain-powered financial institutions in order to reduce systemic risks and ensure stability in the market. The Reserve is responsible for stabilizing the exchange rates of TRON’s centralized and decentralized stablecoins. It also benchmarks interest rates and guides the market through liquidity provision. It also manages USDD as the early custodian, and ensures price stability by using crypto reserves. “We are excited to announce Alameda Research as the first Whitelisted Institution and an official Member of the TRON DAO Reserve. They are an industry-leading principal trading firm with a strong interest and expertise in furthering the development of the USDD network and the utility of USDD,” said H.E. Justin Sun, founder of TRON. Alameda Research is now listed as an approved collaborator with the Reserve. They have the right to mint USDD and can also burn USDD. Alameda Research, a Whitelisted Institution and Member, will act as an advisor, making recommendations for improving, enhancing, and providing general support to USDD network. They will be present at, participate in, and fully engage in Reserve membership meetings. They will support the USDD community, and increase awareness about USDD and the USDD network in general. The TRONDAO Reserve website is now online. There are also historical token issuance records available here.
TRON DAO — Information
TRON is dedicated towards accelerating the decentralization internet through blockchain technology and decentralized application (dApps). H.E. Justin Sun founded the TRON network in September 2017. It has continued to make impressive progress since MainNet launched in May 2018. July 2018 was also the ecosystem integration of BitTorrent. BitTorrent is a pioneer in decentralized Web3 service and boasts over 100,000,000 monthly active users. In recent years, the TRON network has seen incredible growth. As of April 2022, there were more than 90,000,000 user accounts on the TRON network, more that 3.1 billion total transactions, plus $8 billion in total value locked (TVL). TRON has the largest worldwide circulating supply USD Tether stabilitycoin. It is also the most popular, surpassing USDT Ethereum since April 2021. TRON’s network has been fully decentralized since December 2021, and it is now a community-governed DAO. Most recently, the algorithmic stablecoin USDD was announced on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry — TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.