I looked at the data for USDD 2.0, and it's quite interesting. From algorithmic stablecoins, it has upgraded to an over-collateralized model, and this transformation seems quite thorough.
The most intuitive change is transparency. All collateral addresses are public, and the PSM liquidity is nearly 50 million USD, which is more solid than many projects. Moreover, it has undergone 5 audits by CertiK and Chainsecurity, and even Binance has launched their financial products.
In terms of returns, there are quite a few options. Staking USDD to mint sUSDD can yield 12% annually, HTX Earn also offers 10%, and JustLend DAO similarly offers 10%. If you participate in PancakeSwap's LP mining, the APY can reach over 23%.
Regarding Binance Wallet's Yield+ event, it splits 300,000 USDD rewards over 30 days, currently showing a 25.82% return rate. The process is also simple: exchange USDT for USDD and then stake it to become sUSDD.
However, to be honest, the upgrade from USDDOLD to USDD 2.0 ultimately hinges on whether it can break free from reliance on external subsidies. Their Smart Allocator shows a profit of 7.2 million USD, and if this number is accurate, it indeed indicates that the model is developing in a positive cycle.
After all, in the stablecoin sector, safety and sustainability are always the top priority.
