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Mantapex
USDD
USDDpeggedUSD
crypto-backed
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DeFiLlama peggedUSD Stable·$1·$1.1B mcap·4 chains

Stablecoin Profile

USDD (USDD) is a crypto-collateralised stablecoin: users mint USDD by locking other crypto assets as over-collateral, with $1.1B currently in circulation across 4 blockchain networks. The USD peg is maintained through liquidation auctions when collateral value falls below required thresholds. Price feed sourced via defillama.

Pegged to
USD
Stabilization model
Crypto-collateralized
Price source
defillama

About USDD (USDD)

USDD is a decentralized, over-collateralized stablecoin that is designed to be pegged 1:1 to the US dollar with enhanced stability and transparency.

How minting & redemption work

Users can stake assets like TRX, sTRX or USDT to mint USDD. The minimum collateral ratio differs according to vault and collateral type.

Issuer & attestation

USDD (USDD) is issued by TRON DAO Reserve, operating under Decentralised reserve associated with the TRON ecosystem. Originally launched in 2022.

Issuer
TRON DAO Reserve
Jurisdiction
Decentralised reserve associated with the TRON ecosystem
Founded
2022

Reserve composition

Originally launched as an algorithmic stablecoin similar in design to UST. Has since been over-collateralised with USDT, USDC, TRX, BTC and other crypto assets held in the TRON DAO Reserve.

Notable peg events

USDD briefly traded below $0.98 in June 2022 following the Terra/UST collapse but did not enter a hyperinflationary spiral.

Reserve attestation reports

Issuer information is compiled from public disclosures, NYDFS / BMA regulatory filings, and primary-source attestation reports. Always verify directly with the issuer before making decisions.

Recent supply activity

USDD (USDD) supply expanded by $16.7M (+1.55%) in the last 24 hours, expanded by $39M (+3.69%) over the past week, and expanded by $48.6M (+4.64%) over the past 30 days.

24h change
+$16.7M
+1.55%
7d change
+$39M
+3.69%
30d change
+$48.6M
+4.64%

Modest growth: net issuance is positive at 4.64% over the past month, indicating gradual demand uptake.

Supply History

Network distribution

USDD circulates across 4 blockchain networks. Tron hosts the largest share at 66.48%, followed by Ethereum at 32.36%. BSC has shown the strongest 30-day growth at +7.58%, suggesting fresh issuance or bridge inflows on that chain.

ChainSupplyShare24h Δ30d Δ
Tron$728.2M66.48%-0.32%+3.24%
Ethereum$354.5M32.36%+5.49%+7.52%
BSC$12.7M1.16%+5.09%+7.58%
Bittorrent$3.8K0.00%0.00%+0.36%

Peg stability history

As a crypto-collateralised stablecoin, USDD (USDD) maintains its 1.00 USD target by holding excess on-chain collateral and routing redemptions through automated liquidation auctions. Spot price is currently $1.0003 (+0.029%); short-term excursions are normal in this range are typically arbitraged away within hours via the protocol's open mint/redeem mechanics.

Current price
$1.0003
Deviation from peg
+0.029%
Stability band
Tight (±0.1%)

How crypto-collateralised stablecoins defend their peg

Crypto-collateralised stablecoins like this one over-collateralise positions — borrowers must lock more than $1.00 of crypto for each $1.00 of stablecoin minted. If collateral value falls below the required ratio, the position is automatically liquidated in an open Dutch auction. Arbitrageurs can always mint and redeem against the protocol's contracts, which keeps the secondary-market price tightly bounded around $1.00. The main residual risks are sudden crypto-collateral crashes that outpace the liquidation engine, and oracle failure.

Practical implications for holders

  • Collateral volatility is the dominant risk: a fast drawdown in the collateral asset can outpace liquidation auctions and leave the protocol under-collateralised.
  • Oracle risk: the protocol relies on price feeds (typically Chainlink or a multi-oracle setup). Oracle manipulation or delay during volatile markets has historically caused peg excursions.
  • Governance risk: parameter changes (collateral types, liquidation ratios, debt ceilings) are decided by token-holder votes. Sudden governance attacks remain a tail risk.
  • On-chain transparency is a major advantage — collateral is verifiable 24/7 without trusting an attestor.
  • Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).

Peg-stability commentary is based on the mechanism class (crypto-collateralised) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.

Contract addresses

USDD (USDD) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.

ChainContract addressVerify
EthereumTXDk8mbtRbXeYuMNS83CfKPaYYT8XWv9HzExplorer

Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.

Compare USDD to other crypto-collateralised stablecoins

Below are the largest crypto-collateralised stablecoins tracked on Mantapex alongside USDD (USDD). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.

StablecoinSupplyMechanismChains
Sky Dollar (USDS)$8.4Bcrypto-backed6
Ethena USDe (USDe)$5.9Bcrypto-backed23
Dai (DAI)$4.6Bcrypto-backed48
Falcon USD (USDf)$1.6Bcrypto-backed2
United Stables (U)$1Bcrypto-backed2

Across mechanism classes

If you're researching USDD as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.

Peg Stability

Chain Distribution

Resources & data sources

USDD (USDD) is tracked across major crypto data providers. The links below open USDD (USDD)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.

Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.

Recent USDD news

Latest reporting from major crypto news outlets covering USDD.

Related stablecoins

Stablecoins comparable to USDD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.

Risk Warning

Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.