USDD vaults
About USDD vaults
TRON USDD is used in 3 stablecoin vaults with $208.7M TVLacross 1 protocol. The largest vault is Savings Usddand the most popular vault protocol is Decentralized USD. The last 30 days' average yield is 4.0%.
About TRON USDD
USDD is a decentralised stablecoin on the TRON network backed by the TRON DAO Reserve. It is overcollateralised by TRX, BTC, USDT, and other assets. USDD uses a hybrid algorithmic and reserve-backed mechanism.
USDD (Decentralised USD) is a stablecoin issued by the TRON DAO Reserve and launched in April 2022 by TRON founder Justin Sun. It was initially designed as an algorithmic stablecoin inspired by Terra's UST, but was restructured into a fully overcollateralised model following the Terra/LUNA collapse in May 2022. The "USDD 2.0" upgrade in January 2025 formalised this overcollateralised structure.
Mechanism
USDD maintains its peg through a combination of over-collateralisation and a TRX mint-and-burn mechanism. The TRON DAO Reserve holds a basket of assets — including TRX, BTC, USDT, and USDC — with a minimum collateral ratio of 130%. When USDD trades below $1, arbitrageurs can burn USDD to mint TRX at a profit; when USDD trades above $1, TRX can be burned to mint USDD. The reserve is publicly verifiable on-chain. USDD launched natively on Ethereum in September 2025 and on BNB Chain in October 2025.
Key properties
- Overcollateralised by a diversified reserve (TRX, BTC, USDC, USDT)
- Minimum 130% collateral ratio maintained by TRON DAO Reserve
- TRX mint-and-burn arbitrage mechanism for peg maintenance
- Available on TRON, Ethereum, BNB Smart Chain, and Arbitrum
- CertiK AA security rating (November 2025)
Status
As of early 2026, USDD has approximately $750 million in circulating supply. Despite multiple brief depegging events in 2022 and 2023, it has largely maintained its $1 peg under the overcollateralised model.
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Performance and risk
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| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Savings Usdd Decentralized USD | 11.6%* | 11.5%* | 12.3%* | 25.4 | 0.4% | 0.0% | USDD | $77.11K $209.79K | 1.1 | 0.0%/ 0.0% | Instant | Severe |  | ||
Savings Usdd Decentralized USD | 4.0%* | 4.0%* | 6.1%* | 101.1 | 0.0% | 0.0% | USDD | $16.23M $45.45M | 1.0 | 0.0%/ 0.0% | Instant | Severe |  | ||
Savings Usdd Decentralized USD | 4.0%* | 4.0%* | 6.8%* | 137.6 | 0.0% | 0.0% | USDD | $192.18M $424.31M | 1.0 | 0.0%/ 0.0% | Instant | Severe |  |
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