Tron, which debuted the USDD algorithmic stablecoin last month, is looking to avoid the trouble its fellow token TerraUSD ran into by boosting transparency and adding collateral.
Results arent living up to expectations for a quick recovery held by many of the investors who received new Luna tokens following last months collapse of the cryptocurrencies tied to the failed Terra blockchain.
Developers behind failed stablecoin TerraUSD have voted to abandon the token in favour of creating a new blockchain and digital asset weeks after the cryptocurrency collapsed, according to a tweet from the Terra blockchain protocol.
An affiliate of the company behind collapsed stablecoin TerraUSD on Monday said it had spent the bulk of its reserves trying to defend its dollar peg last week and would use what little remained to compensate some users who had lost out.