TRON DAO Reserve, the company that monitors the TRON-based stablecoins, has added USDC to their stablecoin swap tool PSM (Peg Stability Module).
🎊 Welcome to #USDC on our PSM (Peg Stability Module)!
⚖️ Now swap between $USDD and $USDC at a 1:1 ratio
✨ We are proud to offer more assets to our users while maintaining #USDD price stability!
🔗 https://t.co/NHm2iw01OB pic.twitter.com/7iSiL4qRLg
— TRON DAO Reserve (@trondaoreserve) August 18, 2022
USDC would be one of the three stablecoins supported on the PSM alongside USDT and USDD.
With the PSM or Peg stability module, users could now switch between USDD and USDC in a 1:1 ratio with no slippage and fees.
In addition to TRON DAO Reserve’s PSM, SUN, the first integrated stablecoin swap, yield farming and self-government platform on TRON, today also supported USDC on its PSM (Peg Stability Module) on SUN.
📣PSM on https://t.co/KFtGKsS4xB now supports USDC
As #TRON DAO Reserve PSM updates to support USDC to further improve the stability of #USDD price, PSM on SUN now supports users to exchange USDD to USDC at a fixed 1:1 ratio
Experience now: https://t.co/gejYh6Te0J pic.twitter.com/YXpB0lW4Dy
— SUN.IO (@defi_sunio) Aug 18
What is USDC?
USDC is a USD-pegged digital stablecoin founded by Circle, a global financial technology company, and cryptocurrency exchange Coinbase.
USD Coin is managed by a consortium called Centre, an open-source technology project by Circle and Coinbase.
🎉The circulating amount of #TRC20–#USDC issued by @circlepay on the #TRON network has exceeded 2 billion!!!🔥🔥🔥
💪 Today #TRON has a strong alliance of 5 #TRON-based stablecoins: #USDT, #USDD, #USDJ, #TUSD and #USDC. #TRON #stablecoin ecosystem looks excellent.🚀🚀🚀 pic.twitter.com/3Japp0mUYh
— TRON DAO (@trondao) May 17, 2022
USD Coin is the second largest stablecoin on the market after USDT (Tether) and has a market cap of over $25 billion. The stablecoin was first announced in May 2018 and launched in September of the same year.
USDC has a TRC20 based token called USDC on TRON.
What is TRON DAO Reserve?
TRON DAO Reserve is a decentralized organized DAO system. It aims to protect the entire blockchain industry and crypto market, prevent panic trading caused by financial crises, and mitigate severe economic downturns.
It oversees the TRON-based stablecoins in the ecosystem and manages the Decentralized USD (USDD) on TRON as its early custodian and ensures its price stability with reserves.
Expect more stablecoins supported on TRON DAO Reserve stablecoin swap tool? Let us know in the comment section below.
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