TechFlow news — Sun Yuchen has released an open letter to the community announcing the establishment of the TRON DAO Reserve. The TRON network is willing to take the lead in forming the TRON DAO Reserve, aiming to protect the entire blockchain industry and crypto market. Its main functions include safeguarding exchange rate stability of both centralized and decentralized stablecoins within the TRON and other blockchain networks, formulating and implementing monetary policies, and acting as a lender of last resort.
At its inception, the TRON DAO Reserve will hold and custody $10 billion in highly liquid assets raised by blockchain industry initiators as initial reserves. All reserve assets will be transferred into the TRON DAO Reserve within the next 6 to 12 months. The TRON DAO Central Bank will also serve as the initial custodian responsible for managing permissions of TRON’s decentralized stablecoin USDD, ensuring its exchange rate stability and decentralization through backing with financial assets. TRON plans to launch the decentralized algorithmic stablecoin USDD on May 5, 2022. USDD will also be available on Ethereum and BNB Chain via the BTTC cross-chain protocol.
