It was the third day after the UST collapse in May 2022, and I watched helplessly as my "stablecoin" plummeted from 0.98 to 0.3, with hundreds of thousands of funds evaporating in an instant. At that time, I was wondering, is there really a truly safe stablecoin in this world?
It wasn't until recently that I discovered a brutal fact:
Everyone is criticizing USDD as the "next UST", but over the past year, while USDC and DAI frequently depegged, USDD remained as stable as ever, consistently pegged around 0.999.
What's more heartbreaking is that we "smart people" criticize USDD while putting our money in banks earning 1% on demand deposits, whereas USDD can be casually staked for an annualized return of 12%.
It's like how you disdain the old Wang's broken car next door, yet he drives that broken car to earn a house.
What really breaks my defenses is Binance's operation this time. Just think about it, what scale does Binance have? What risk control standards? They dare to put USDD into their wallet investment products and even promise to share 300,000 USDD rewards in 30 days.
What does this indicate? It indicates that the security of USDD 2.0 has been recognized by the industry's leader.
I studied it carefully and found that USDD 2.0 is completely different from the UST of that year:
UST is a pure algorithmic stablecoin, relying on faith and speculation; USDD 2.0 is over-collateralized, with every penny backed by real assets, and all collateral is transparently verifiable on-chain.
Even more astonishing is that USDD now has a PSM feature, allowing 1:1 seamless exchange for USDT. What does this mean? It means that even if the whole world is crashing, you can exit without loss at a price of 1 dollar.
It's like buying insurance for your money, enjoying a 12% return without worrying about the safety of your principal.
But what is the most ironic?
We, who pride ourselves as professional investors, study various DeFi protocols every day, chasing all kinds of obscure tokens, yet turn a blind eye to a product that has been running stably with consistent returns.
As the saying goes: opportunities are always given to those who are prepared, but more often, they are given to those who dare to try.
Currently, Binance wallet's activities are still ongoing, and you can participate with as little as 100 USDT, with a current overall return rate of 25.82%.
I'm not selling anything; I'm just thinking: three years ago, when UST collapsed, if I had known there was a choice like USDD, would it have been so tragic?
Sometimes, what we miss is not the opportunity but the awareness of the opportunity.
