Terra 4Pool has launched on Fantom; following Near, Tron also introduces algorithmic stablecoin USDD.

Terraform Labs' 4Pool project, launched earlier this month, has officially gone live on Fantom, accumulating over 30 million TVL (Total Value Locked) and steadily progressing towards the goal of becoming the largest stablecoin pool on Curve. Additionally, the success of UST has attracted many imitators, with TRON founder Justin Sun announcing his algorithmic stablecoin project USDD on the 21st yesterday.

4Pool on Fantom

In order to resolve the current standoff between UST and FRAX in the Curve Wars and aim to surpass the largest stablecoin pool 3Pool on Curve, Terra and Frax Finance have formed an alliance to establish a 4Pool on Curve including UST, FRAX, USDT, and USDC, which went live on Fantom on the 22nd.

Since its launch, 4Pool has accumulated approximately $31.2 million in TVL with a trading volume exceeding $2.4 million.

Currently, FRAX holds the largest proportion in 4Pool, with approximately 9.83 million FRAX; while UST has the smallest proportion, with around 5.25 million UST.

According to the initial proposal, 4Pool will initially be tested on Fantom and Arbitrum, and will be further deployed on Ethereum in the future.

Justin Sun Proposes Algorithmic Stablecoin USDD

Following the success of UST, TRON founder Justin Sun, following in the footsteps of NEAR, announced yesterday that TRON DAO will issue an algorithmic stablecoin. This algorithmic stablecoin is named USDD, with the additional "D" representing Decentralized, aiming to become the most decentralized stablecoin in human history.

USDD will be pegged to the underlying asset TRX, similar to LUNA and UST, and will be issued in a decentralized manner, not relying on any centralized institutions for redemption, management, and storage. It is planned to be officially launched on May 5, 2022. With the help of the BitTorrent Chain cross-chain protocol, USDD is expected to circulate on TRON, Ethereum, and BNB chains.

To realize this plan, TRON DAO will establish a decentralized reserve fund and aims to raise an initial preparation fund of $1 billion from well-known blockchain industry participants within the next six months to a year to maintain the stability and convertibility of USDD.

Furthermore, surprisingly, the risk-free interest rate of USDD is set at 30% per year, equivalent to a 30% APY, surpassing the approximately 19.5% APY offered by Anchor.

"Our ultimate goal is to make equal access to financial services a fundamental human right. Over time, financial services will become a necessity, like water and air, available to people worldwide." Justin Sun stated.

Shortly after Justin Sun's announcement, Terra founder Do Kwon immediately retweeted and commented on this news on Twitter. The two also had a brief interaction on Twitter. Perhaps after the official launch of USDD, we can expect to see USDD and UST stablecoin pools appear on Curve.

https://twitter.com/stablekwon/status/1517138784412106752