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The founder and CEO of Tron, Justin Sun<\/a>, has offered to set aside $10 million in the new algorithmic stablecoin of USDD<\/a>\u00a0to assist the smallholders of UST affected by the recent crisis surrounding the Terra blockchain.<\/p>\n Mr. Sun’s plan is intended to assist the 236k UST holders affected most by the crisis. He also stated that he would provide additional details of the plan very soon. He said<\/a>:<\/p>\n I sympathize with all in this unforeseen crisis. I would like to commit $10 million USDD to the recovery of the bottom 236k UST holders. I believe this will benefit the ones affected the most and show our unity! Details to be announced soon!<\/p><\/blockquote>\n Justin Sun’s $10 million pledge in USDD was in response to an earlier Tweet by Ethereum’s Vitalik Buterin<\/a> where he had suggested a ‘coordinated sympathy and relief for the average UST smallholder who got told something dumb about “20% interest rates on the US dollar” by an influencer, personal responsibility and SFYL for the wealthy.’<\/p>\n Mr. Buterin cited the existing FDIC insurance of up to $250k per affected individual and Singapore’s Employment Law that protects low-income earners as possible blueprints of how to cushion the average UST investors affected by the depegging event.<\/p>\n Vitalik’s suggestions on the matter were made through the following two tweets.<\/p>\n The obvious precedent is FDIC insurance (up to $250k per person)<\/p>\n An interesting unrelated one is Singapore employment law. Stronger regulation for low-earning employees, and a more figure-it-out-yourself approach for the wealthier.<\/p>\n IMO things like this are good hybrid formulas. pic.twitter.com\/25XkfE8UVc<\/a><\/p>\n — vitalik.eth (@VitalikButerin) May 14, 2022<\/a><\/p><\/blockquote>\nEthereum’s Vitalik Buterin Had Suggested Coordinated Sympathy and Relief for the Average UST Smallholder<\/h2>\n
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