USDD Just Launched On Tron: First Day With Over 30% APY
USDD is a new decentralized stablecoin backed up by TRX on the Tron blockchain. An APY of 30% was promised and was delivered. Lets see how things are looking right now only after some hours of USDD launch.
USDD was launched and bridged over to three chains instantly after launch, it lives on Tron, Binance smart chain and Ethereum, everyone can find the respective contracts on Coingecko. Right now on USDD.io, the official website, it's only announced that there are 3 pools to farm activated, two on Tron (SunSwap) and one on BSC (Ellipsis).
On Tron there's an USDD-TRX pool and a USDD-USDT pool. Right now the one who catched the most attention is the USDD-USDT pool, it is the one that imposes less risks because the user is providing liquidity to two stablecoins and the value barely varies. This pool sits already with over 32 million dollars in liquidity, far from the over 7 million of the USDD-TRX pool. As all investors know the greater the risk the better can be the reward and the USDD-TRX pool offers a lot more rewards in USDD and SUN than the USDD-USDT pool. Both pools give both USDD and SUN for providing liquidity and farm, users can even boost their rewards with their already owned SUN.
The advertised APY was 30% but right now things look different on the pools, the USDD-USDT pool as of this moment has an APY of 23.07% on USDD and 3.5 to 8.5% on Sun, meaning that this pool is bellow the 30% on USDD, remember that the pool pays on the two tokens at the same time. The USDD-TRX pool on the other hand has an APY of 130% on USDD and 14 to 35% on SUN, this is an high APY that probably won't live long. USDD only launched a few hours ago and this APY might stabilize with time, as more money comes to this pools the more stable the APY will be and the one from USDD-TRX will come down very quickly if more money is put in.
On Binance smart chain, users can provide liquidity on ellipsis finance, the pool is named Decentralized USD / 3EPS and righ now there are over 32 million dollars locked on the pool. 3EPS is USDT, USDC and BUSD together, users can provide liquidity to any of these stables to be able to pair with USDD.
USDD is live and a lot of money is already on the pools, the value locked might only increase if things continue to go well. This seems to be a big deal for the Tron ecosystem which is used as the stablecoin playground. Lets continue to watch how this story unfolds and if USDD delivers everythimg that promised.
Best Regards,
Cryptopeach
