Justin Sun Proposes the Establishment of Tron DAO Reserve and to Launch USDD Stablecoin
Justin Sun, the founder of the Tron blockchain network, is stepping up his responsibility in the broader digital currency ecosystem with the establishment of the Tron DAO Reserve. Sun unveiled the new Decentralized Autonomous Organization (DAO) in an open letter to the Tron community, citing how long overdue a reserve fund is floated to help cushion the broader industry from the shocks of the bear market and sudden price crashes. Despite Tron being the frontrunner per its founding, Sun noted that the Tron DAO Reserve will service every blockchain protocol with the needed liquidity to stay in business when there is a major financial offset. He said the reserve will be kick-starting its operations with $10 billion, and he enjoined participants to contribute to the liquidity pool of the reserve. “By setting up a decentralized blockchain reserve, we will be able to bring together the power of all blockchain practitioners through a DAO system and build this organization into the firmest protector of the blockchain industry and market. I believe this will be the best solution to any future crises,” Sun wrote in the open letter. Specifically, the Tron DAO Reserve “aims to safeguard the overall blockchain industry and crypto market, prevent panic