What Is Neutrino USD (USDN)?
Neutrino USD (USDN) is an algorithmic crypto-collateralized stablecoin. It’s pegged to the US dollar at a 1:1 rate, meaning that 1 USDN is equal to $1. The stablecoin is built on the Neutrino protocol, which is an algorithmic price-stable assetization protocol based on the Waves blockchain. It allows users to develop stablecoins tied to crypto or real-world assets.
The Neutrino protocol consists of a group of interconnected smart contracts written in the programming language called Ride. Besides, the Neutrino ecosystem is made up of three tokens – WAVES, USDN, and NSBT.
WAVES is the native token of the Waves blockchain, and it is employed to cover transaction costs. Besides, WAVES acts as collateral for USDN. NSBT token, on the other hand, is a recapitalization and governance token of the Neutrino system. It ensures that the USDN collateral reserves stay stable.
A total of 1 trillion Neutrino USD crypto assets were initially created and locked in the contract, with no room for further issuance. No one has access to the locked assets, not even the Neutrino development team. The issued USDN tokens can only be released by exchanging WAVES for USDN via the Waves exchange.
Note that the USD price is still subject to some degree of fluctuation. However, it usually stays very close to $1, even when it does fluctuate. Check out the USDN price chart above to see that yourself.
The Use Cases of Neutrino USD Tokens
To begin with, USDN tokens serve as collateral for other stable assets stored on the Neutrino protocol. Since the USDN price is stable, it can be used as a backup plan for investors during periods of extreme fluctuation. Investors can exchange their assets for USDN tokens this way, preserving the value of their funds.
Secondly, USDN tokens can be staked. As a reward, USDN stakers get a fee from leased collateralized WAVES reserves in USDN coins.
Furthermore, since USDN is a stablecoin, it’s a tool that can be used to deal with the liquidity of the whole crypto market. This is the case because the Neutrino USD price is not affected by the volatility of the crypto market.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
13.38K
Followers: 13,386
0.18%
Following
85
0.00%
Posts count
656
0.00%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
-
Subreddit type
-
Moderators
-
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These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
1.98K
Members: 1,987
0.15%
Title
Neutrino Protocol - Official group 🌊 (1 ➝ 2)
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
43 / 100
2.27%
Ahrefs Rank
1,078,635
0.39%
Organic Traffic (mo.)
1
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Public repos
24
Type
Organization
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Stars
18
0.00%
Watchers
5
0.00%
Forks
6
0.00%
Language
JavaScript
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