Justin Sun's USDD has problems
USDD is a Justin Sun-founded stablecoin that advertises a 20% yield paid to users who are willing to lend the token. Over its several years of existence, it has destroyed its DAO, abandoned its roadmap, and has highly concentrated holdings. Even now, there are two separate protocols that exist, both with hundreds of millions in circulating supply and substantial differences in how they function. Both also raise serious concerns about Sun’s role and about how these coins are managed. USDD 1.0 USDD was launched as an algorithmic stablecoin modeled after the Terra/Luna system but paying even higher unsustainable interest rates to users. However, the coin quickly abandoned its original roadmap to be integrated into the core of the TRON network and become a strangely collateralized stablecoin operated in concert with several partners, including the fraudulent trading firm Alameda Research. It also advertised that it was governed by a decentralized autonomous organiz...