Convert USDD to USD
List of cryptocurrencies and tokens supported by PassimPay crypto wallet. Secure storage for a variety of digital assets.
btcBitcoin
tonToncoin
ftnFasttoken
ltcLitecoin
busdBinance USD
ethEthereum
bchBitcoin Cash
zecZcash
dogeDogecoin
bnbBinance Coin
pepePepe
usdtTether
trxTron
usdcUSD Coin
xrpRippleusddUSDD
notNotcoin
eosEOS
adaCardano
shibShiba Inu
dashDash
hftHashflow
dydxdYdX
linkChainlink
aaveAave
crvCurve DAO Token
achAlchemy
flokiFloki
maticPolygon
daiDai
nearNEAR Protocol
atomCosmos
twtTrust Wallet
dotPolkadot
avaxAvalanche
flowFlow
ksmKusama
bonkBonk
solSolana
dogsDogsWhat is USDD?
The price of USDD is pegged to the US dollar at a 1:1 ratio due to a reserve of dollars in a bank account for every token issued into circulation. Thus, each USDD is backed by real US dollars in the global financial system.
The cryptocurrency is issued by Reserve TRON DAO. The Reserve oversees mainstream stablecoins based on the network and manages the decentralized US dollar as an early custodian, ensuring its price stability with reserve assets. This protects the blockchain and cryptocurrency industry, prevents panic trading during financial crises, and mitigates economic downturns.
Stablecoin Characteristics
Since the goal of USDD is to maintain network stability, the cryptocurrency has some distinctive features.
Decentralization
The project aims to provide the most stable, decentralized, hack-proof, and freeze-proof system of stablecoins. This makes the cryptocurrency independent - there is no central control over it by any individual or government that could manage or manipulate it.
Overcollateralization
USDD works with several networks (TRX, BTC, and USDT). The total value of the reserve assets is significantly higher than the value of the stablecoin in circulation, and the collateralization ratio is set at 120%. This mechanism allows for stability and a high degree of security. Its essence is the process of supporting the stablecoin not only with deposits in the traditional monetary system but also with collateral from other cryptocurrencies.
Independence from a specific network
This cryptocurrency can circulate in several popular networks. Users can transfer the token across different networks using bridges between blockchains. Like TRC20-USDT, USDD meets the users' needs, offering a fast and accessible experience on TRON. Interestingly, on October 7, 2022, USDD was appointed as the official digital currency and legal tender in the Commonwealth of Dominica. For this purpose, they created the first national token — Dominica Coin (DMC). Its creation not only allows the use of this coin for financial transactions but also provides the TRON platform for obtaining digital citizenship of Dominica.