Let's start with the conclusion

USDe is a financial engineering type of yield stablecoin
USDD is an ecological subsidy + strategically priced yield stablecoin

They are addressing the same issue: where does the yield from stablecoins come from?

But they are following two completely different paths.

USDe: yield comes from the market itself

The core of USDe is a Delta-Neutral (hedging) structure

On one side are assets like ETH / stETH, and on the other side are derivative shorts. By eating: funding rates, basis, and the returns of the collateral assets themselves

When market leverage demand is strong, this structure naturally generates returns. This means that the yield comes from the market, not from project subsidies. But the cost is also clear: when sentiment declines and funding rates turn negative, yields will quickly contract.

So USDe is more like: a hedge fund share priced in US dollars.

Stability depends on the market;
High or low depends on the cycle.

USDD: The returns are not given by the market; they are designed.

USDD is taking a completely opposite route. It does not expect the market to naturally yield profits, but instead actively provides you with returns through mechanisms, ecosystems, and subsidies.

The logic of USDD can be divided into three layers.

First layer: The protocol itself is not running in circles

USDD is supported by the TRON DAO Reserve, not the purely algorithmic stablecoin of the early days.
It combines: reserve assets, stabilization mechanisms, and adjustable human space

Essentially, it is a governance-type, interventionist stablecoin system.

Second layer: The real use cases of TRON

A commonly underestimated fact is: TRON is currently one of the networks with the largest settlement volume of stablecoins.

A large number of USDT / USDC transfers, payments, and cross-border settlements occur on TRON. This means that USDD is not: 'unused, only relying on high interest to survive.' It has real: on-chain demand, liquidity environment, and usage inertia behind it.

Third layer: Strategically providing returns

This is the core part of USDD. USDD offers a 12% annualized yield (APY), which is not the result of market formation, but rather: using returns to buy time, buy scale, and buy mindset.

This is not unfamiliar in traditional finance: new banks attract deposits with high interest rates, new platforms use subsidies to capture users. USDD simply brings this logic onto the chain, and executes it very directly.

So why does Brother Sun dare to offer 12% APY?

First, he is not in a hurry to make money with USDD.

USDD is more like a strategic asset, serving the liquidity and influence of the entire TRON ecosystem. When the goal is not short-term profit, 12% is just an investment cost, rather than systemic risk.

Second, he thinks about scale effects.

As the use cases increase, liquidity deepens, and stablecoins become infrastructure, 12% will gradually shift from 'attractiveness' to 'phase historical.' This is a very typical approach: first pricing, then convergence.

In the end, USDe and USDD both appear to be yield-generating stablecoins, but essentially one is extracting profits from the market; the other is exchanging returns for the future. If what you pursue is: financial neutrality, market-driven, and not relying on human judgment, USDe is more intuitive. If what you pursue is: cash flow efficiency in the current phase, low operational costs, and clear perceivable returns, the logic of USDD is actually more straightforward.

Additionally, USDD has been launched on Binance Wallet Yield+, participating in the Binance Wallet financial management Yield+ USDD USDT strategy, with an additional reward of 300,000 USDD to be shared within 30 days.
@USDD - Decentralized USD #USDD以稳见信