12,000 BTC missing from USDD reserves

[FinneysTrueVision]

According to the transparency section of the USDD website, the majority of the collateral backing the token is TRX that was sent to a burn contract. Maybe there is something I don’t understand because it seems like a terrible idea to back a stablecoin with money that is effectively destroyed.

USDD can be redeemed for other stablecoins at a 1:1 ratio and that is supposed to maintain the peg, but there is only $27 million worth of Tether remaining in the contracts for their Peg Stability Module — only enough for a tiny fraction of the total supply of USDD to be redeemed.

There are major red flags with this token. It wouldn’t be the first time Justin Sun was doing something shady. There is also the BTC on Tron token which appears to be unbacked. https://bitcoinist.com/justin-sun-60000-bitcoin-tron-unbacked/

[hugeblack]

It is very possible that I am wrong, but from my point of view what they are looking for is to divert attention from what is most important, the development of Tron.

Tron's strength does not come from the strength of the project, but from the lack of competitors. For example, the Ethereum network has a problem with high fees, and L2 is still in development. TON is facing problems with the arrest of the founder, so once there is a strong competitor, the project will end. Therefore, Justin Sun's attempts, although they were unsuccessful, the weak competition is what encourages him in more projects. If Ethereum fees drop significantly, 80% of cryptocurrencies will lose a lot of their value.