USDD 取消了 7.32 亿美元的比特币支持，重新引发了去中心化担忧

管理 USDD 稳定币的 Tron DAO Reserve 周三删除了价值约 7.32 亿美元的支持该稳定币的比特币，引发了人们对该实体并不像其声称的那样去中心化的担忧。

The Tron DAO Reserve, which manages the USDD stablecoin, has removed some $732 million worth of Bitcoin (BTC) backing the stablecoin, according to data from X Wednesday.

根据 X Wednesday 的数据，管理 USDD 稳定币的 Tron DAO Reserve 已经移除了价值约 7.32 亿美元的支持该稳定币的比特币 (BTC)。

The move comes as USDD, which is pegged to the US dollar, has been facing increasing scrutiny over its backing assets and claims of being decentralised.

此举出台之际，与美元挂钩的 USDD 因其支持资产和去中心化的主张而面临越来越严格的审查。

With the recent removal of some 12,000 BTC, USDD’s backing has shifted almost entirely to TRX, the volatile native token of the Tron blockchain.

随着最近约 12,000 BTC 的撤资，USDD 的支持几乎完全转向 TRX，Tron 区块链的不稳定原生代币。

However, Tron founder Justin Sun has downplayed the concerns, stating that the Tron DAO Reserve would adjust the backing assets based on the “collateral factor.”

然而，Tron 创始人 Justin Sun 淡化了这种担忧，表示 Tron DAO Reserve 将根据“抵押因素”调整支持资产。

According to Sun, USDD has a long-term capital utilization rate of over 300%, which prompted the DAO to optimize the capital utilization by reducing the BTC-backed portion.

Sun表示，USDD的长期资金利用率超过300%，这促使DAO通过减少BTC支持部分来优化资金利用率。

The USDD website currently shows a collateralisation ratio of 230%, indicating that the value of assets backing USDD is more than twice the value of the stablecoin in circulation.

USDD网站目前显示的抵押率为230%，这表明支持USDD的资产价值是流通稳定币价值的两倍以上。

Launched in 2022, USDD is an algorithmic stablecoin pegged to the US dollar and claims to be decentralised, being managed by a decentralised autonomous organisation — or DAO.

USDD 于 2022 年推出，是一种与美元挂钩的算法稳定币，声称是去中心化的，由去中心化自治组织（DAO）管理。

But the recent removal of some 12,000 Bitcoin backing USDD raised eyebrows because despite advertising USDD as being managed by a DAO, no vote was approved.

但最近取消支持 USDD 的约 12,000 个比特币引起了人们的关注，因为尽管将 USDD 宣传为由 DAO 管理，但没有投票获得批准。

Is it really decentralised?

真的是去中心化的吗？

USDD has a rocky history.

美元兑美元有着一段坎坷的历史。

The stablecoin was initially undercollateralised, meaning that the value of its backing assets was less than all USDD in circulation.

该稳定币最初抵押不足，这意味着其支持资产的价值低于流通中的所有美元。

When the Terra blockchain’s undercollateralised TerraUSD stablecoin collapsed in 2022, USDD switched over to an overcollateralised model.

当 Terra 区块链的抵押不足的 TerraUSD 稳定币在 2022 年崩溃时，USDD 切换到了超额抵押模型。

At the time, the Tron DAO said it planned to maintain a minimum collateralisation ratio of 130%.

当时，Tron DAO 表示计划将最低抵押率维持在 130%。

This change, as well as several others, were not put to votes, as is commonplace among DAOs. The USDD website lists only a single DAO vote — a May 2023 proposal to use TRX tokens from the stablecoin’s reserve in Tron governance.

这一变更以及其他几项变更并未像 DAO 中常见的那样进行投票。 USDD 网站仅列出了一项 DAO 投票——2023 年 5 月提出的一项提案，即在 Tron 治理中使用稳定币储备中的 TRX 代币。

USDD has attracted several prominent critics.

USDD 引起了一些著名的批评者。

Stablecoin rating agency Bluechip gave USDD its lowest rating, and strongly advises against using it.

稳定币评级机构 Bluechip 给予 USDD 最低评级，并强烈建议不要使用它。

Bluechip’s assessment of USDD said the wallet containing the Bitcoin that previously backed it was claimed by Huobi exchange as their own.

Bluechip对USDD的评估称，火币交易所声称之前支持其的包含比特币的钱包是他们自己的。

The stablecoin rater also criticised USDD’s mechanism.

稳定币评级机构还批评了 USDD 的机制。

“USDD has practically useless short term stability mechanisms and a theoretical long term mechanism that is yet to be seen in action,” it said,

它表示：“USDD 拥有实际上无用的短期稳定机制和理论上的长期机制，但尚未付诸实践。”

Sun said in his Thursday X post that USDD’s mechanism is “not mysterious,” and compared it to that of MakerDAO’s DAI stablecoin.

Sun 在周四的帖子中表示，USDD 的机制“并不神秘”，并将其与 MakerDAO 的 DAI 稳定币的机制进行了比较。

He also hinted at future upgrades that may address some of the USDD criticism.

他还暗示未来的升级可能会解决美元兑美元的一些批评。

“The Tron DAO Reserve plans to spend time upgrading USDD in the future to make it a more competitive decentralised stablecoin in the market,” Sun said.

Sun 表示：“Tron DAO Reserve 计划在未来花时间升级 USDD，使其成为市场上更具竞争力的去中心化稳定币。”

USDD did not immediately respond to a request for comment.

USDD 没有立即回应置评请求。

Tim Craig is DL News’ Edinburgh-based DeFi Correspondent. Reach out with tips at tim@dlnews.com.

Tim Craig 是 DL News 驻爱丁堡的 DeFi 记者。请通过 tim@dlnews.com 获取提示。