Justin Sun creates "the most decentralized Stablecoin" - page 2.

tvplus006

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Quote from: inanilujimi on May 17, 2022, 10:18:11 AM

I hope the luna crash is the last ever this year, but somehow Justin sun made something that has failed the luna ecosystem??
to be honest it really scares me if in the next few days something similar will happen for Tron, which will definitely have a big impact on the market.

Already after Luna and UST depreciated, a similar thing also with the algorithmic stablecoin DEI on the Fantom network, the value of which decreased against the dollar by 45%. Obviously, this type of stablecoin has a vulnerability that is exploited by scammers with large capital, and we can assume that the same fate awaits USDD and TRX, respectively.

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Quote from: tvplus006 on May 12, 2022, 09:29:25 AM

Justin Sun on his Twitter page announced the mining of USDD with a yield of 30 to 70% per annum. This is more than 3 times higher than another algorithmic UST stablecoin recently offered. It is possible that USDD and TRX will repeat the dump that we saw on UST and Luna and, accordingly, it's time to open a short position on these coins.

I hope the luna crash is the last ever this year, but somehow Justin sun made something that has failed the luna ecosystem??
to be honest it really scares me if in the next few days something similar will happen for Tron, which will definitely have a big impact on the market.

crwth

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Why have I just seen this now, lol? I didn't know that Justin Sun has created his stable coin in his network. Anyway, if it does its job, why not, right? Don't you agree that it's like that?

Quote from: tvplus006 on May 17, 2022, 04:15:00 AM

Justin Sun decided to support small investors who had UST on their accounts: https://twitter.com/justinsuntron/status/1526149180909289472 by allocating $10 million for this. But at the same time, Justin Sun decided to simultaneously advertise his USDD stablecoin, since compensation will be paid in this coin.

I do hope that everyone would somehow get compensated with it or something. I think it's a great way that he announced it. The problem was a stable coin so proposing an alternative is a good job for him. Lol.

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Justin Sun decided to support small investors who had UST on their accounts: https://twitter.com/justinsuntron/status/1526149180909289472 by allocating $10 million for this. But at the same time, Justin Sun decided to simultaneously advertise his USDD stablecoin, since compensation will be paid in this coin.

tvplus006

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Justin Sun on his Twitter page announced the mining of USDD with a yield of 30 to 70% per annum. This is more than 3 times higher than another algorithmic UST stablecoin recently offered. It is possible that USDD and TRX will repeat the dump that we saw on UST and Luna and, accordingly, it's time to open a short position on these coins.

tvplus006

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On May 5, a decentralized algorithmic USDD stablecoin was launched on the Tron network, which is also available in Ethereum and BNB Chain. In addition, USSD mining in these networks was also announced.
The Official Guide on USDD Mining: https://medium.com/@usddio/the-official-guide-on-usdd-mining-decentralized-algorithmic-stablecoin-on-tron-cc05081156e9
Guide how to transfer USDD from one network to another: https://medium.com/@usddio/usdd-cross-chain-tutorial-8eb5f58f3089

zasad@

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Quote from: tvplus006 on April 22, 2022, 10:29:18 AM

The founder of Tron, the well-known Justin Sun decided to launch a decentralized Stablecoin called Decentralized USD (USDD). The difference from all existing ones, according to Justin Sun, will be that USDD will be “the most decentralized stablecoin in human history.”
In his message on Twitter, he says https://twitter.com/justinsuntron/status/1517143091722940417 "The USSD will provide custody services for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve. The TRON DAO will set its basic risk-free interest rate to 30% per annum".

Do you think USDD will be more decentralized than existing decentralized stablecoins?

The creator of a centralized blockchain wants to make a Decentralized Stablecoin? What blockchain will this decentralized coin run on? Is it in the Tron ecosystem? It's fun!
The Tron ecosystem is very popular due to low fees, but it is not decentralized.

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Quote from: Slow death on April 25, 2022, 06:20:23 PM

I don't understand the technical aspects and I'm not an expert in law but I know that the moment he talks about stablecoins he's referring to a currency pegged to the US dollar in that sense how the hell can he talk about decentralized when everyone knows well that it's pegged to the US dollar...

Currently, the dollar acts as a measure of the value of the cryptocurrency, as well as in the real world. In this case, it would be logical for bitcoin, not the dollar, to act as such a measure of value in the cryptocurrency market. But this will become possible only when BTC ceases to be so volatile.

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Quote from: tvplus006 on April 22, 2022, 10:29:18 AM

Do you think USDD will be more decentralized than existing decentralized stablecoins?

I don't understand the technical aspects and I'm not an expert in law but I know that the moment he talks about stablecoins he's referring to a currency pegged to the US dollar in that sense how the hell can he talk about decentralized when everyone knows well that it's pegged to the US dollar dollar he needs to have dollars in a bank and properly audited so people are trusting that the same value of online coins he has, he also has in the real world bank, i don't see how he can create something decentralized if the main functioning of stablecoins is this the one I mentioned?

Quote from: iv4n on April 25, 2022, 03:21:23 PM

Quote from: el kaka22 on April 25, 2022, 01:32:15 PM

Justin Sun needs to take the hint. People do not like him, I mean not hate him, but not like him, and nobody really cares about projects that he does. This dude had smart contracts and cheap transactions locked down years and years ago, and nobody cared, things like ADA, SOL, AVAX and the likes are barely getting there, and they somehow managed to get super high.

So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.

You're right, I don't love him, but I don't hate him either! But I do like Tron, it's good for gambling, at least from my perspective, I used it a lot... and I am still getting some as passive income! The price of Tron is the same as before, that's why some people don't like it, Tron didn't make a rise like some others, but I think it's holding pretty nice and stable in the past years! With a bit of patience, there's profit in trading with Tron! Again, from my perspective, I have it and I follow it!

But Justin is a controversial personality! I am not sure what he's up to now, but some of his projects are still around, and he probably have huge funds for some next projects!

Tron is a joke that only increased in price because the creator was every day on twitter giving good news for the price to go up that over time people realized this pump and dump scheme and today it no longer works

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Quote from: el kaka22 on April 25, 2022, 01:32:15 PM

Justin Sun needs to take the hint. People do not like him, I mean not hate him, but not like him, and nobody really cares about projects that he does. This dude had smart contracts and cheap transactions locked down years and years ago, and nobody cared, things like ADA, SOL, AVAX and the likes are barely getting there, and they somehow managed to get super high.

So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.

You're right, I don't love him, but I don't hate him either! But I do like Tron, it's good for gambling, at least from my perspective, I used it a lot... and I am still getting some as passive income! The price of Tron is the same as before, that's why some people don't like it, Tron didn't make a rise like some others, but I think it's holding pretty nice and stable in the past years! With a bit of patience, there's profit in trading with Tron! Again, from my perspective, I have it and I follow it!

But Justin is a controversial personality! I am not sure what he's up to now, but some of his projects are still around, and he probably have huge funds for some next projects!

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Justin Sun needs to take the hint. People do not like him, I mean not hate him, but not like him, and nobody really cares about projects that he does. This dude had smart contracts and cheap transactions locked down years and years ago, and nobody cared, things like ADA, SOL, AVAX and the likes are barely getting there, and they somehow managed to get super high.

So, other projects who are not even at a level where Tron was years ago, ended up being higher than Tron way before they reached those levels. There must be a reason for that, if that didn't work, I do not see how his own stablecoin version would end up getting more attention somehow.

magneto

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It's a complete oxymoron.

Justin Sun is known for being "centralised" and being one of the biggest manipulators in the crypto space. Just look at what he did with Steem.

Also, stablecoins are by its very nature reliant on the value of USD to withhold value. There is nothing decentralised about the way that USD is issued, and I'm not sure why anyone would think that.

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Quote from: Kingairdrop on April 23, 2022, 02:45:39 PM

I don't know about the USDD, but i believe in Trc20 chain. This chain has made life easier for cryptocurrency enthusiast. Low fees when transacting is what we look for while trading.

Tron supply is too centralized due to the majority of the coins is owned by Justin Sun and his company. The price of Tron is always objected with manipulation from Justin Sun whichever he wants to do. He also announced before that he is stepping down on Tron decision making yet he is now introducing new product of Tron which he leads. I don’t really what this guy think but surely this USDD is not decentralized because he will be the one who holds most of the supply.

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Quote from: tomahawk9 on April 22, 2022, 01:35:56 PM

oh Justin, you're off to bad start with this stableshitcoin when one of the main selling point of it is being "the most X/Y/Z thing in human history". Such a cheesy comment about something crypto related. Anyway, the 30% interest rate raises some red flags, imo it's too high, something doesn't add up, hell, it raises more red flags than seeing the name Justin Sun attached to this new coin which is already a lot of damn flags lol

That is a fact that the starting pitch is fishy as hell especially with the 30% interest rate and the claim of the most decentralized stablecoin. One of the article i saw claims that they start with $10 billion in crypto reserves but it is not clear which cryptocurrency will be used as reserve, if it is Bitcoin then i would say it is a good reserve but i do not trust any other coin as reserve.

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I don't know about the USDD, but i believe in Trc20 chain. This chain has made life easier for cryptocurrency enthusiast. Low fees when transacting is what we look for while trading.

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I don't know how decentralised this token will be, but apart from TRX I wouldn't put much trust in Justin. As said before, he has had failed projects and there is no telling what will happen with this one, especially when it comes to stablecoin. It is not quite clear where this token will be used and why it is needed when TRX has long and successful Tether TRC20.

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Quote from: GreatArkansas on April 23, 2022, 06:08:13 AM

Quote from: tvplus006 on April 22, 2022, 10:29:18 AM

(....)
Do you think USDD will be more decentralized than existing decentralized stablecoins?
(....)

Huge possiblity. Justin Tron could possibly make his mistakes from the past. As we all know, Justin Sun got a lot of issues, especially on Tron (TRX), but he already stepped down there.
I am also hoping that this new stablecoin will be available to a lot of different chains, not only on the Tron network. Because that's what stablecoin become convenient to use for me.

Definitely he will have to follow what the stablecoin market has offered, make it available to other chains.

But you mentioned his TRX which for me look like a failure already.

@makishart - I don't think this will be < $1.00, it will solely defeat the purpose. Not sure though if this is going to be supported by traders, stablecoins has been saturated.

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Quote from: malcovi2 on April 23, 2022, 03:26:35 AM

remember what happened to Justin's so-called sun token from $45 to $0.01

yeah and i remember that even with the token migration and it doesn't even give any change to the price as it's still having the worst performance and i have been reading the article and it seems like sun was trying to make its tron coin being used to back its what he was called as decentralized stable token. I doubt that if this will be truly decentralized and we do know that even when he was calling his tron blockchain truly decentralized but we can see what happened with oikos when the dev of oikos deny a partnership with tron foundation. I doubt with any platforms that in his hand. This may become only a short term bet for sure. So, there was possibility if this stable token will worth less than 1 dollar

Dave1

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Doesn't matter if it's the most decentralized stablecoin, the concern is if it will run on fractional reserves, although as reported it has billions already.

And I guess Justin has lost his touch, his project didn't even move a lot during the bull run as compare to other altcoins. Maybe this is his way of making his name relevant again, but not sure if it will save him.

GreatArkansas

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Quote from: tvplus006 on April 22, 2022, 10:29:18 AM

(....)
Do you think USDD will be more decentralized than existing decentralized stablecoins?
(....)

Huge possiblity. Justin Tron could possibly make his mistakes from the past. As we all know, Justin Sun got a lot of issues, especially on Tron (TRX), but he already stepped down there.
I am also hoping that this new stablecoin will be available to a lot of different chains, not only on the Tron network. Because that's what stablecoin become convenient to use for me.

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