On Monday, USDD, a stablecoin issued by Tron network, lost its peg to the U.S dollar. USDD fell around 91 cents amid concerns among investors regarding tightening financial conditions, high inflation, and a potential recession.
ចាស្ទីន សាន់ ស្ថាបនិក Tron, on Monday in a tweet shared that the funding rate on the Binance exchange for “shorting” or betting against TRX, the native token of the Tron blockchain, is negative 500%.
This high rate hints at the fact that many investors are “clamoring to get into that trade.” Sun claims that TronDAO will allot $2 billion to fight them.
Source: https://www.thecoinrepublic.com/2022/06/14/trons-stablecoin-suffers-de-peg-founder-justin-sun-claims-usdds-collateral-has-2-billion/