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USDD, short for Decentralized USD, is a stablecoin designed to keep a steady value of one US dollar. It was launched in May 2022 on the TRON blockchain by the TRON DAO Reserve, an organization associated with Tron founder Justin Sun. USDD has since also been issued on Ethereum and BNB Chain.

When USDD launched, it was presented as an algorithmic stablecoin, which means that its price was meant to be held at $1 mainly by an automated mechanism, supported by a reserve that the TRON DAO Reserve managed. In 2022, its price fell below $1 for a period.

In January 2025, the project relaunched the stablecoin as USDD 2.0 with a different design, and holders of the old token could exchange it for the new one. According to the project's documentation, USDD is now overcollateralized: users mint it by locking crypto assets worth more than the USDD they create, and the project describes it as governed by its community. Because USDD is backed by crypto assets and not by bank deposits, its stability depends on the value of that collateral and on how the system is managed.

USDD is used for trading, for transfers and in DeFi applications on TRON and other blockchains, where it serves as a trading pair and as collateral.

USDD has no fixed maximum supply. The number of tokens in circulation changes as new USDD is minted and existing USDD is redeemed, so the supply follows demand. The circulating supply is shown at the top of this page.

USDD is designed to trade at $1, so its price chart looks very different from a typical crypto chart. Small deviations of a fraction of a cent are normal, and the six timeframes on the chart help show how closely it tracks the dollar over time.

Cointelegraph's USDD price index gives you the live USDD to USD price and the numbers behind it: 24-hour change, market cap, 24-hour trading volume, supply and the 24-hour and 52-week price range. Use the USDD to USD converter for quick calculations, and follow our stablecoin coverage for news on reserves, regulation and issuance.