Sun Yuchen: We have repurchased over 95% of the USDJ supply at a premium, and currently only about 200,000 USDJ remains in the market.

According to Mars Finance, Sun Yuchen announced that the USDJ redemption will be conducted based on the principle of 100% 1:1 rigid exchange for users before the snapshot. USDJ, as a decentralized stablecoin on the TRON network, is an older version of the SAI project, and the official redemption has been ongoing for over a year, recovering more than 95% of USDJ at prices above 1. Currently, there are only about $200,000 USDJ left in the market, and this portion will also be permanently exchanged at 1:1 to ensure asset security for users. Sun Yuchen stated that USDJ will serve as a decentralized TRX exchange contract in the future, and the bottom line during the redemption is to ensure that all users do not incur losses. The system will close at 10 PM Beijing time on November 17, and the final value of USDJ will be 1.55 TRX, which will fluctuate with TRX prices but is unrelated to the actual redemption value for users. He explained that the reason for the redemption is due to the technological upgrade of centralized stablecoins, as the USDJ code is too outdated, and the team plans to focus on the development of USDD, thus deciding to redeem USDJ. Users need not worry about asset security or devaluation issues, as the redemption plan ensures the rights and interests of all users.