[Tron DAO]

USDD

Grade
F
Date of Rating:
June 4th, 2023
Last Change:
June 4th, 2023
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
N/A
[M]
N/A
[I]
N/A
[D]
N/A
[G]
N/A
[E]
N/A
USDD Price
Last Update:
18/02/57556 08:40:00
$0.999384
Market Cap
$566,448,221
24h Volume
$4,502,816
Collater­alization
53%
Type of Peg
Fixed - To Fiat
Type of Backing
Stables
Crypto
Data provided by
Coingecko
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
-
[M]
-
[I]
-
[D]
-
[G]
-
[E]
-
Core Team
  • Hidden Name
  • Hidden Name
Native Chains
  • Chain
Links
[S]
[M]
[I]
[D]
[G]
[E]
0.00
0.00
0.00
0.00
0.00
0.00
Tron DAO
F
  • USDD is issued and managed by the Tron DAO Reserve (TDR). Only whitelisted members of TDR can mint and burn USDD.
  • USDD is claimed to be an over-collateralized, decentralized stablecoin but it is substantially similar to the failed UST stablecoin (Luna <> UST). Only ~50% of USDD’s supply is backed by non-TRX collateral, nearly all of which is BTC. Stable assets in reserve comprise less than 2% of USDD's supply.
  • The wallet containing USDD’s BTC has been claimed by Huobi exchange as their own. As both USDD and Huobi are controlled by Justin Sun, we suspect commingling of assets.

We strongly recommend users NOT to use USDD.

Tron DAO
Stability

The Stability factor is evaluated on the following:

  1.  Reserves Management - Quality, quantity, storage and segregation of reserve assets
  2. Market Feedback - Indicators of market's confidence in a stablecoin derived from price and trade data
  3.  Mechanism - Stabilization methods that protect the stablecoin 
Tron DAO
Management

The Management factor is evaluated on the following:

  1. Restrictions - What deterrents exist to prevent key personnel of stablecoin projects from unethical and illegal behavior?
  2. Negative Track Record (if applicable) - Have key personnel been involved in scams, frauds or other illegal activities?
Tron DAO
Decentralization

The Decentralization factor is evaluated on the following:

  1. Platform Censorship Risk
  2. Custodian Risk
  3. Type of Collateral
  4. Diversified Voting Power
  5. User Censorship Risk
Tron DAO
Governance

The Governance factor for on-chain stablecoins is evaluated on the following:

  1. Voting Systems - Does the governance function have an appropriate process for voting encompassing proposal, quorum requirements and outcome implementation?
  2. Anti-Governance Attack Measures - Are there appropriate preventive and reactive measures to counter governance attacks?

However, USDD does not have a public governance mechanism.