Neutrino USD (USDN)
- Category: Ethereum Ecosystem
- Coin Launched: November, 2019
- Resources: White Paper
- Official Website: Neutrino USD
Neutrino USD History / Information / Buying / Staking
NEUTRINO USD HISTORY
The Neutrino USD network was created by the Waves protocol to provide users across the industry with Defo, easy interoperability, and several other blockchains-based advantages for strategic profitability. The Waves protocol was founded by Aleksandr Ivanov, a Russian tech entrepreneur and a respected professional in the world of blockchain technology.
HOW NEUTRINO USD WORKS
Neutrino USD (USDN) is an algorithmic crypto-collateralized stablecoin pegged to the US dollar. All operations involving USDN, such as issuance, collateralization, staking, and reward payouts, are transparent and governed by a smart contract.
BENEFITS OF USING NEUTRINO USD
Some of the benefits of using Neutrino USD are:
Neutrino USD is a stablecoin pegged to the USD but it is backed by WAVES, and as such, it gets to leverage the staking model of the Waves protocol’s underlying consensus algorithm. This means that Neutrino USD’s stakers can expect to see staking yield rewards that go up to 15% APY.
EASY CREATION OF STABLE COINS
Neutrino USD is offering an accessible DeFi toolkit that allows for quick and easy creation of stablecoins pegged to specific real-world assets. This can include anything, from fiat currencies such as the USD, EUR, GBP, and alike, to various commodities, such as gold, silver, oil, and more.
The project offers Decentralized Forex (DeFo), which is an extension on top of the Neutrino protocol. DeFo facilitates instant swaps of stable-price assets that are tied to real-world assets of value, essentially ensuring that users can always easily swap their stablecoins without difficulties.
Another thing that you get from staking NSBT and gaining gNSBT is the influence that you have in the project’s voting system.
CAN YOU STAKE NEUTRINO USD
The only way to stake Neutrino USD is through the Neutrino USD decentralised application (dApp).The token is primarily staked for contingency purposes, rather than being used to validate and process blockchain transactions, the Neutrino USD platform is the one generating rewards.
COINS SIMILAR TO NEUTRINO USD
Neutrino's top competitors include Teneos, Synthetix and Trakx.