Research Summary
The report discusses the performance of USDD, a TRON-native stablecoin, in Q2 2023. USDD traded close to its peg, allowing $13 million to accumulate in the Peg Stability Module (PSM) and the Curve pool to return to balance. The stablecoin saw several integrations and partnerships throughout the quarter, marking significant steps towards adoption. However, adoption metrics did not show a meaningful increase from Q1. The report also mentions the introduction of governance for USDD, with the first governance proposal activated in May.
Actionable Insights
- Monitor the performance of USDD: The stablecoin traded close to its peg in Q2 2023, enabling $13 million of backing to accumulate in the PSM and the Curve pool to return to balance.
- Track the adoption of USDD: Despite several integrations and partnerships, adoption metrics did not show a significant increase from Q1.
- Understand the governance of USDD: The TRON DAO Reserve activated the first governance proposal in May, marking the introduction of governance for USDD.
