Why study stablecoins like USDD seriously?

From the perspective of institutions or family offices, the logic regarding stablecoins is often very different from that of retail investors: they are not easily convinced by a single annualized figure, but are more concerned about how the system will perform under the worst circumstances.

Within this framework, looking back at @USDD - Decentralized USD reveals several interesting points. First is "verifiable over-collateralization": the collateral assets and collateralization ratios of USDD are made public on-chain, allowing anyone to verify through transparency pages and block explorers, rather than relying solely on quarterly reports or third-party ratings. Secondly, there is "multi-chain decentralization": USDD exists across ecosystems such as TRON, Ethereum, and BNB Chain, reducing the concentration risk when a single chain faces technical turmoil.

Another point is "mechanism transparency": USDD 2.0 clearly outlines liquidation parameters, collateralization ratio requirements, risk control logic, and the usage of price stability tools like the Peg Stability Module in its documentation. This information can be modeled, calculated, and stress-tested by risk control teams, rather than just relying on the statement "we will ensure stability."

For institutions, allocating a portion of stablecoin positions to such a decentralized, verifiable system is not to pursue higher returns, but to add an additional layer of relatively independent firewall beyond fiat reserves and centralized stablecoins. This is why more and more institutions are adding products like USDD to their "must-research" list. Which type of stablecoin do you think large funds will prefer in the future? #USDD以稳见信