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TRON DAO Reserve Appoints Alameda Research as First Whitelisted Member and Institution

TRON DAO Reserve Appoints Alameda Research as First Whitelisted Member and Institution, Crypto Trading News
[PRESS RELEASE – Geneva, Switzerland / May 5]

The TRON DAO Reserve has announced Alameda Research as the first whitelisted member and institution to coin Decentralized USD (USDD), a fully decentralized one stablecoin, which is based on mathematics and algorithms. The TRON DAO Reserve aims the global Blockchain-Support industry and the crypto market, prevent panic trading caused by extreme market volatility and mitigate long-term economic downturns.

Alameda Research is a leading home trading company. They use in-house developed technology and the team’s extensive crypto know-how to trade thousands of digital asset products, including all major coins and altcoins and their derivatives. They have tirelessly built a globally focused team and infrastructure capable of trading on all major exchanges and markets since 2017.

The TRON DAO Reserve intends to formulate and implement monetary and exchange rate policies, play the role of lender of last resort for market participants, and maintain reserve assets of various blockchains and blockchain-powered financial institutions to mitigate systemic risk and contribute to the stability of the overall market. The reserve aims to stabilize the exchange rates of centralized and decentralized stablecoins on TRON and other blockchains by comparing interest rates and directing the market by providing liquidity. It also manages USDD’s early custodian permits and ensures its price stability with crypto reserves.

“We are pleased to announce Alameda Research as the first whitelisted institution and an official member of the TRON DAO Reserve. They are an industry leading premier trading company with a strong interest and expertise in advancing the development of the USDD network and the utility of USDD,” said HE Justin Sun, Founder of TRON.

This appointment lists Alameda Research as a permitted contributor to the reserve and grants them the right to mint and burn USDD. As a whitelisted member and institution, Alameda Research will act as advisor and provide recommendations for the improvement, expansion and general support of the USDD network. You will prepare for, attend and fully participate in all Reserve meetings. You will also support the USDD community and raise awareness of the USDD network and use of USDD in general.

The TRON DAO Reserve website is now live and historical token issuance records are published here.

About TRON DAO

TRON is dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps). Founded in September 2017 by SE Justin Sun, the TRON network has continued to deliver impressive results since the MainNet launch in May 2018. July 2018 also saw the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services with over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of April 2022, it has a total of over 90 million user accounts on the blockchain, more than 3.1 billion total transactions, and a combined value of over $8 billion (TVL).

Additionally, TRON hosts the world’s largest circulating supply of USD tether stablecoin, overtaking USDT Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-managed DAO. 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.

Source: Crypto News Deutsch

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