Tron Launches Algorithmic Stablecoin USDJ Based on Similar …

Tron launches algorithmic stablecoin USDJ based on model similar to MakerDAO

Tron Foundation Unveils Its Own Stablecoin Issuance System under the name “Djed”. It uses a model similar to MakerDAO, a decentralized organization, which stands behind the stablecoin Dai.

About creating Djed CEO Tron Justin Sun announced on Saturday. The idea of ​​a decentralized stablecoin secured by tokens TRX and BTT, is he put forward yet in January of this of the year.

Image: @justinsuntron

The stablecoin issued by Djed is called “USDJ”, tied to the course dollar USA and secured by collateral assets.

“USDJ – this new currency generated through decentralized smart contracts on base networks TRON, says the white paper Djed. – Any willing can add TRX to quality collateral for USDJ issue. USDJ hits free treatment like any other cryptocurrency, after release. It pegged to the dollar USA through secured pledge debt positions (CDP) and uses an autonomous response mechanism “.

Tron Launches Algorithmic Stablecoin USDJ Based on Similar ...

Contrary to promises Sana, Djed’s white paper the present time contains no mention of BTT. Like MakerDAO, Djed uses a stabilization fee, level control community, mechanism liquidation and other similar functions.

“We believe that under the successful management of the community, USDJ will unleash its benefits as a stablecoin and will be widely used in the TRON network, – write the developers. “We believe the USDJ will become an integral part of the TRON Decentralized Finance (DeFi) Ecosystem.”.

Tron Launches Algorithmic Stablecoin USDJ Based on Similar ...