Hu Jie, former senior economist of the Federal Reserve: future financial trends from the upgrading of usdd

In recent days, , Professor of Shanghai GAOJIN college, shanghaijiaotonguniversity 、 Hu Jie, a former senior economist of the Federal Reserve, published a report entitled 《 Stable currency USDD How to stabilize ？》 Articles of , For the recent USDD Upgraded to the world's first decentralized super mortgage stable currency , This paper analyzes the stability logic of a stable currency from the Hong Kong dollar linked exchange rate mechanism , Pointed out that USDD There are similarities between the model design and the Hong Kong dollar linked exchange rate mechanism , Its high mortgage rate design is very important to ensure the confidence of users . According to public information ,6 month 5 Japan ,USDD It has been officially upgraded to the world's first decentralized super mortgage stable currency , The pledge rate ranks first in the world .

Stable currency is an important medium of exchange

According to Hu Jie's analysis , Any market needs a medium of exchange with stable value , Money . Encrypted asset trading market is no exception . Creating and managing a currency with stable value is far from as simple as it seems . that , Why not just use an excellent legal currency , For example, dollars . There may be many reasons , But the transfer is not convenient 、 The most direct reason is that the time cost and economic cost are too high , This is particularly evident in cross-border transactions . besides , Legal currency cannot directly support smart contracts in the transaction of encrypted assets , Is another important reason . This will kill the unattended financial business model , That is what the industry calls decentralized finance （DeFi）.

So far , Getting rid of the involvement of centralized institutions does not make the task of creating and managing a high-quality currency simple , It makes the task almost impossible . Of course , There are also ways to kill two birds with one stone , The stability of the currency value is left to the fed to worry about , The core demand of the transformation scheme is to ensure that the pass can maintain a balance with the US dollar 1:1 The exchange relationship , Such a token is a stable currency . The first to issue dollar stable currency was Tether company , Then more stable coins appeared . The following table shows the general ecological status of the head stable coin .

Last mover, first mover USDD Innovation model

Whereas DAI The relative success of , Projects that draw on their ideas have emerged , One of the most successful is the wave field USDD.

In circulation USDD Before , Wave field TRON Founder sunyuchen took the lead in disclosing the establishment of wave field joint reserve （TRON DAO Reserve）, That is, through decentralization DAO System , The blockchain decentralized central bank led by the wave field network , Hosting the financial reserve assets jointly raised by wave field network and other blockchain initiators . Because of the existence of the blockchain decentralized central bank , First, it can release sufficient liquidity in extreme industries , It's good for stabilizing the market 、 Ease the panic , So as to better protect the interests of encryption users . This is a necessary measure for the encryption market to move towards a more mature stage , It is also an important symbol .

At present, the Federal Reserve of Poland has held 10500 BTC,19 Billion TRX And 2.4 Billion USDT Reserve fund , Plus the destruction of 82.9 Billion TRX, The total amount is 13.7 Billion dollars is 6.67 Billion dollars USDD Provide mortgage guarantee , at present USDD The total mortgage rate of exceeds 200%. This makes USDD Become the first decentralized super mortgage stable currency in the world , The pledge rate ranks first in the world .

Besides ,“ Intelligent contract + Super delegates vote ” Dual mechanism , It can smooth the market fluctuation to the greatest extent .USDD The Oracle service consists of wave field TRON Provided by network super representative , Every time N Each block counts one vote , The network super representative needs to vote in each voting stage , The voting content is... In the market USD The current real price , The Oracle will take the weighted median of the voting prices of each super representative as the real price . Taken together , The wave field ensures that the price of stable currency is absolutely true through the decentralized Oracle quotation mechanism 、 Long term just need management to achieve USDD The relative balance between supply and demand , as well as TRX In the short term USDD A way to effectively anchor value , To achieve USDD The relative stability of prices . The wave field ecology and BTTC Cross Chain Protocol , Already in Ethereum 、 Wave field 、BSC In circulation , Form a natural large-scale 、 User base and scenario conditions .