TRON Reserve buys $61 million bitcoins to back USDD
The TRON DAO Reserve has acquired bitcoin and TRON tokens to back the USDD algorithmic stablecoin. The USDD stablecoin was launched on May 5th. TRON DAO Reserve has set a “risk-free” annual interest rate of 30% for the return on the asset.
TRON DAO Reserve bought 500 BTC at an average price of $31,000 worth over $15.5 million. The purchase of 595.7 million TRX cost TRON DAO Reserve $45.6 million.
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