USDDUSDD

A crypto-collateralized US-dollar stablecoin on Tron, governed by JUST DAO and relaunched as USDD 2.0 in January 2025.

Rank #62Since 2022; USDD 2.0 in January 2025

Price on 31 Oct 2026

C$1.40 -0.5% since 31 Jul 2026 · 20.7% below its all-time high

The short version

USDD is a US-dollar stablecoin minted against crypto collateral in vaults and a peg stability module on Tron, Ethereum and BNB Chain; its 2.0 upgrade on 25 Jan 2025 added over-collateralization and the Smart Allocator treasury. Governance runs through JUST DAO and the JST token. On 2 Nov 2026 US$1,550.8M of USDD was backed by US$2,186.0M of collateral, about 141%. On 31 Oct 2026 one USDD cost C$1.40. From 31 Jul 2026 to 31 Oct 2026 its price changed -0.5% in Canadian dollars, and it was 20.7% below its all-time high of C$1.76 set on 9 Jul 2026.^[1]

Facts checked 2 Nov 2026 · 15 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$1.43 (9 Oct 2026) · low C$1.35 (29 Jan 2026) · -0.8%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$1.39	US$0.9988
30 Sep 2026	C$1.42	US$0.9992
31 Aug 2026	C$1.39	US$0.9992
31 Jul 2026	C$1.40	US$0.9993
30 Jun 2026	C$1.42	US$0.9986
31 May 2026	C$1.38	US$0.9991
30 Apr 2026	C$1.36	US$0.9995
31 Mar 2026	C$1.39	US$0.9990
28 Feb 2026	C$1.36	US$0.9999
31 Jan 2026	C$1.35	US$0.9987
31 Dec 2025	C$1.37	US$0.9995
30 Nov 2025	C$1.40	US$1.00

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$1.40^[1]
3-month change: -0.5% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 20.7% below its high of C$1.76 (9 Jul 2026)^[1]
Market rank: #62, market value about C$2.1B^[1]
Kind: Stablecoin · Tron (TRC-20); also Ethereum and BNB Chain
Started: 2022; USDD 2.0 in January 2025

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?NoMinted only by vault and PSM contracts against collateral; JUST DAO sets the parameters^{[2, 3]}

Can anyone freeze or take coins from holders?NoThe docs state USDD cannot be frozen; no blacklist or pause function in the Ethereum contract^{[2, 4]}

Can the token's contract code be changed?NoFixed contract code on Ethereum, not a proxy^[4]

Is the supply capped?NoNo maximum; supply follows collateralized minting and redemptions^[3]

Any scheduled unlocks in the next 12 months?NoNo vesting or locked allocations^[5]

Does a team or foundation hold over 10% of supply?NoNo team or investor allocation; USDD exists only against collateral^[3]

Do network fees reach coin holders?YesUSDD staked as sUSDD earns protocol returns, 4.00% APY on 2 Nov 2026^{[6, 7]}

Main network hacked or halted in the past 2 years?NoNo exploit of USDD contracts in the DefiLlama hacks list; hack proceeds only passed through in Oct 2026^{[8, 9]}

Is a regulator or court case targeting the coin itself?NoUSDD is not named; the SEC's Tron case ended by settlement on 5 Mar 2026^[10]

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Run by: JUST DAO governance via JST votes; the docs describe no central issuer and list full DAO control as upcoming^{[5, 8]}
Admin powers: Protocol contracts mint USDD against collateral; the docs say USDD cannot be frozen; the Ethereum contract has no blacklist^{[2, 4]}
Founder ties: Part of Justin Sun's TRON ecosystem; the SEC's case against Sun and Tron Foundation ended by settlement on 5 Mar 2026^[10]

Supply

In circulation: 1.48B USDD of 1.49B in total (99.6%)^[1]
Maximum supply: None set^[1]
Outstanding: US$1.55B on 2 Nov 2026: about US$1.19B on Tron, US$336M on Ethereum, US$21M on BNB Chain^{[11, 12]}
Collateral: US$2,186.0M on 2 Nov 2026, about 141% of supply; TRX vaults require 117% to 130%^{[11, 3]}
Minting: Vaults (TRX, USDT, WBTC collateral) and a peg stability module; stability fee 0.5% on TRX vaults^[3]

Use and fees

Yield to holders: Staked USDD (sUSDD) earned 4.00% APY on Tron, Ethereum and BNB Chain on 2 Nov 2026 from Smart Allocator returns^{[6, 7]}
Protocol revenue: US$4.22M in the past year (DefiLlama)^[13]
Buyback link: JUST DAO set a US$50M minimum treasury reserve on 24 Oct 2026; surplus funds JST buybacks from Q4 2026^[8]

Trading

Daily trading: About C$23.8M a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 0.19% of its market value changes hands each day^[1]
20-week average: 0.0% above its 20-week average price^[1]
1-year change: -0.1% in C$^[1]^[14]
Thin trading: Typically under 1% of its market value trades in a day^[1]

History

Not a forecast

Coins ranked 51-200 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 4,050 cases, 612 coins

39% were higher a year later^[15]

Typical result: Median -25% after a year; 45% higher after two years
Lost half or more: 38% within a year
Against Bitcoin: 12% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

No red flags found

Arkham traced at least US$20.37M of USDT from an early-October 2026 hack into USDD on Tron (29 Oct 2026); the protocol itself was not breached.^[8]
On 8 Mar 2026 contract updates lowered liquidation ratios and raised vault debt ceilings for minters.^[8]
The SEC settled its Tron case on 5 Mar 2026: Rainberry pays US$10M; claims against Justin Sun and Tron Foundation dismissed, pending court approval.^[10]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.