来源：中青看点网 PSM（锚定稳定模块）作为维持USDD价格稳定的核心机制，获得 Messari 重点评述。该模块支持用户 以USDT/USDC与以太坊USDD进行1:1兑换，依托套利机制有效维系锚定。Messari 强调，PSM 的套利 机制为 USDD 建立了稳固的价格锚，使其在二级市场始终维持在 1 美元附近，有力保障了流动性与用 户信心。 过去两个季度的流动数据进一步印证了PSM的核心作用：截至2025 年 9 月 8 日（尽管第三季度尚未结 束），用户以USDT/USDC 兑换 USDD的总量已从第二季度的11.5 亿美元增至 25 亿美元，环比增长 117%；同期赎回量从 12.4 亿美元增至 27 亿美元，环比增长119%。这表明 PSM 目前已能够有效应对大 规模需求波动，并通过套利机制将 USDD 维持在锚定价位。 Messari 分析，自2025年1月重新上线以来，USDD 2.0 协议展现出稳健的发展态势。截至 2025 年9月 初，其储备抵押品总价值峰值已超过 6.2亿美元，且始终高于USDD的流通供应量，严格保持超额抵押 状态，充分彰显出USDD强大的风险抵御能力与长期价值潜力。 在 ...

RT @USDD 2.0 Token2049🇸🇬Stable Summit (@usddio)🚀@MessariCrypto's report showcases USDD 2.0's New Horizons — the steps we have taken to redefine stablecoins:🔒Over-collateralized stability💡Smart Allocator & sUSDD yield🌉Native on Ethereum🛡️CertiK audited📖Read Messari’s full reporthttps://t.co/cHJkq7q30LWanna learn more? We’re in Singapore for #Token2049 and a proud sponsor of Stablecoin Summit, where we will speak about how we are leading Stablecoins 2.0.Come say hi 👋#USDD #StablecoinSummit ...

Core Insights - USDD 2.0 has officially surpassed a total collateral value of $400 million, indicating strong market confidence in decentralized, community-driven, over-collateralized stablecoins [1][7] - The upgrade to USDD 2.0 marks a new development phase aimed at creating a truly decentralized stablecoin with a collateralization ratio exceeding 100% [3][4] - The introduction of the sTRX Vault and partnerships with platforms like Kraken enhance USDD's DeFi offerings and international presence [5][6] Technical and Ecological Developments - USDD 2.0 employs an over-collateralization mechanism, allowing users to mint USDD by collateralizing assets like TRX and USDT, significantly reducing market volatility risks [3][4] - The price stability module (PSM) facilitates near-zero fee exchanges between USDD and other stablecoins, ensuring a stable 1:1 peg to the US dollar [3] - A 20% annualized staking activity, fully subsidized by TRON DAO, provides users with reliable high returns, leveraging TRON's DeFi lending income [3][7] Global Strategy and Market Positioning - USDD's global strategy is supported by strategic investments and partnerships, including the collaboration with WLFI and the listing on Kraken, enhancing its market credibility [4][6] - The launch of promotional activities, such as reduced fees and community engagement initiatives, aims to attract both new and experienced investors to the TRON ecosystem [5][6] - USDD 2.0's advancements position it as a potential leader in the global stablecoin market, bridging traditional finance and the crypto economy [7]