• 01 October, 2024
Bitcoin

Justin Sun Defends USDD Bitcoin Removal as DeFi Basics

Justin Sun downplays concerns after 12,000 Bitcoin, worth over $729 million, was removed from USDD’s collateral without a DAO vote. Sun insists this is standard DeFi practice, likening it to MakerDAO's DAI, where collateral can be withdrawn if it exceeds system limits. The TRON DAO Reserve's last community vote was in May 2023. Sun argues USDD’s collateralization rate is high, indicating inefficient capital use.

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