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NEAR and TRON Launch Stablecoins USN & USDD – The Beginning of Stablecoin 3.0

The Beginning of Stablecoin 3.0

On April 7, following the move of Zoran Kole – Founder captainkole, revealing that NEAR will issue its USN stablecoins with the same model as Terra’s UST, USN will offer attractive APR interest rates up to 20%. . However, this has not been confirmed by the NEAR development ferries.

As for the USN stablecoin, it is considered a mechanism similar to Terra‘s UST, where NEAR tokens will be burned when users want to mine the stablecoin to increase its demand.

Recently, Near also launched stablecoin USN on testnet on April 21. This is also considered a verification method on the disclosure of Zoran Kole’s previous stablecoin issuance plan USN.

Near also launched stablecoin USN on testnet on April 21
Near also launched stablecoin USN on testnet on April 21.

In addition, Ref Finance has also added the USN stablecoin to its token swap list – This is a decentralized finance (DeFi) platform built on NEAR Protocol with features: Decentralized trading, lending, development token issuance, Rainbow Bridge Cross-chain.

Ref Finance has also added the USN stablecoin to its token swap list
Ref Finance has also added the USN stablecoin to its token swap list

After Near, the TRON blockchain also announced plans to issue stablecoins for its ecosystem.

On April 21, Justin Sun – the founder of TRON announced the plan to release a stablecoin for the TRON ecosystem, the name of this stablecoin is Decentralized USD (USDD).

In the past, stablecoins 1.0 and 2.0 were represented by USDT based on Omni and TRON, now the blockchain trend is gradually ushering in the era of stablecoin 3.0, an era where stablecoins will not rely on any organization to conversion, management and storage.

USDD stablecoin will be pegged to the underlying asset (TRX) and issued in a decentralized (on-chain) manner.

When the price of USDD is less than 1 USD leading to a price difference, users and investors can deposit 1 USDD into the system and receive 1 USD worth of TRX.

When the price of USDD is higher than 1 USD leading to a price difference, users and investors can deposit 1 USD worth of TRX and get 1 USDD in return.

The USDD stablecoin on the TRON blockchain is scheduled to be released on May 5, 2022. USDD will also be available on Ethereum and BNB Chain via the BTTC cross-chain protocol.