Recently, the decentralized stablecoin USDD released its Q1 2026 performance data. The data shows that USDD achieved revenue of $6.3 million, a 66.6% increase quarter-over-quarter; profit of $6.14 million, a 77.9% increase quarter-over-quarter; expenses decreased to $160,000, a 51.6% decrease quarter-over-quarter; and the treasury balance increased by 77.9% quarter-over-quarter on a disclosed basis. Of particular note is the total treasury balance reaching $13.91 million, further demonstrating USDD's solid foundation in profit accumulation, risk buffering, and sustainable development. Overall, USDD continued its strong growth momentum at the start of 2026, exhibiting more pronounced characteristics of "cost reduction, efficiency improvement, and increased resilience."
Driven by both ecosystem expansion and improved capital efficiency, revenue and profit saw a significant jump compared to the previous quarter.
USDD's quarterly performance growth was primarily driven by the continued expansion of its ecosystem and further enhancement of its market influence. As USDD continued to advance ecosystem partnerships and collaborated with partners such as Binance Wallet, GateDEX, and Bitget Wallet on a series of marketing activities, protocol reach, user engagement, and fund activity all increased simultaneously, leading to a sustained expansion of the overall market size and maintaining the total value locked at approximately $1.5 billion, laying a solid foundation for revenue growth.
Meanwhile, USDD's continuous optimization of asset allocation and capital utilization efficiency has significantly enhanced its profitability. In the first quarter of 2026, the protocol further optimized the parameters of the TRX and sTRX vaults, driving a continuous improvement in capital utilization efficiency. This has enabled revenue growth to gradually shift from being driven solely by scale expansion to a higher-quality growth phase characterized by "parallel scale expansion and efficiency improvement." Based on this, USDD's revenue increased by 66.6% quarter-over-quarter, and its profit increased by 77.9% quarter-over-quarter, with profit growth exceeding revenue growth, fully reflecting the simultaneous enhancement of the protocol's revenue conversion capabilities and overall operational efficiency.
With a significant decrease in spending and a continued increase in treasury strength, the total treasury balance demonstrates long-term stability.
Alongside improvements in revenue and profit, USDD has seen significant optimization in cost control and capital management. In the first quarter of 2026, USDD expenditures decreased to $160,000, a 51.6% reduction from the previous quarter. This substantial drop in expenditures, despite continued ecosystem expansion and business growth, indicates that the protocol has entered a more refined management phase in terms of resource allocation, daily operations, and investment efficiency, thereby further enhancing overall profit margins.
Furthermore, USDD continued to optimize its funding structure this quarter, enhancing the stability and resilience of its revenue sources through more diversified strategy allocations, thereby further improving its income resilience and operational stability. Benefiting from this, the vault balance continued to increase on a disclosed basis, with the total vault balance rising to $13.91 million, becoming a prominent highlight of the quarter's financial performance. More ample vault reserves not only signify a further strengthening of the agreement's profit retention capacity but also provide stronger support for future ecosystem development, market expansion, and risk hedging.
Overall, USDD delivered a strong performance in the first quarter of 2026, demonstrating both rapid growth and high-quality operations: robust revenue and profit growth, significant reduction in expenses, continuous optimization of capital allocation efficiency, and a particularly impressive total treasury balance. Coupled with a stable operating foundation free from systemic risk, USDD is further solidifying its competitive advantage in the decentralized stablecoin sector with a healthier financial structure and a more mature growth logic.
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