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About Neutrino Defi
Neutrino Defi 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. The top exchanges for trading in Neutrino USD are currently BiKi, MXC.COM, Coinsbit, Uniswap (V2), and KuCoin. You can find others listed on our crypto exchanges page.
Neutrino Protocol eschews the potentially untrustworthy fiat reserve strategy in favor of an algorithmic approach that uses a native token of a public blockchain platform (such as ETH, WAVES or ATOM) as a reserve currency locked on the smart contract. There can be different variations of Neutrino-based stablecoins, depending on which external asset it is pegged to: USD-Neutrino (USDN), EUR-Neutrino, BTC-Neutrino, S&P 500-Neutrino, and so on.
The exchange rate of the stablecoin to the reserve token is determined by a set of external oracles. In some cases, the full redemption of the stablecoin may become impossible due to volatility of the crypto market, or the diminishing value of the underlying asset during a bearish trend.
Neutrino Defi Protocol can provide a deflationary mechanism for DeFi-oriented blockchain platforms such as Ethereum, EOS, Cosmos, or Waves. This document describes a protocol implementation on the Waves Platform blockchain, which is a well-known example of a DeFi platform with staking functionality.
Neutrino is an algorithmic price-stable assetization protocol acting as an accessible DeFi toolkit built on Waves. It enables the creation of stablecoins pegged to specific real-world assets, such as national currencies or commodities.
Quick Fact About Neutrino Defi Coins
| Coin Basic | Information |
|---|---|
| DEFI Coin Name | Neutrino Defi |
| Circulating Supply | 109,237,342 USDN |
| Total Supply | 109,237,882 |
| Contract Address | 0x674C6Ad92Fd080e4004b2312b45f796a192D27a0 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To Visit |
| Twitter Group | Click Here To Visit Twitter Group |
| Documentation | Click Here To View |
| Project Location | N/A |
| Official Project Website | Click Here To Visit Project Website |
Price
Neutrino USD price today is $0.986408 USD with a 24-hour trading volume of $5,383,940 USD. Neutrino USD is down 1.21% in the last 24 hours. The current CoinMarketCap ranking is #234, with a market cap of $107,752,599 USD. It has a circulating supply of 109,237,342 USDN coins and the max. supply is not available
What are Neutrino stable assets?
Neutrino stable assets are digital assets that serve as an equivalent to their underlying fiat analogs. For example, EURN is pegged to the Euro in a 1 to 1 ratio. Each asset is backed by USDN. Currently, there are 9 assets, excluding USDN.
Algorithmic stablecoin enabling sustainable DeFi
Neutrino USD (USDN) is an algorithmic stablecoin pegged to the US dollar and backed by WAVES. Leveraging the staking model of the Waves protocol’s underlying consensus algorithm, USDN staking yields a sustainable reward of up to ~ 15% APY.
Trade national currencies on a decentralized exchange
Decentralized Forex (DeFo) is an extension on top of the Neutrino protocol that facilitates instant swaps of stable-price assets tied to popular national currencies, indices or commodities.
Influence the Neutrino protocol’s development with NSBT token
Neutrino Defi (NSBT) enables its holders to influence decisions concerning the Neutrino protocol, product and feature roadmap, as well as changes to governance parameters.
How does the price stability algorithm work?
Let’s consider the example of USDN. When the price of WAVES against the US dollar rises, a reserve fund is formed to maintain the backing in an event when WAVES’ price drops. If the reserve fund is not large enough to compensate for a decline in price, the smart contract issues Neutrino Tokens (NSBTs).
Neutrino Defi tokens can be purchased for USDN at a market rate (e.g. 10 NSBTs for 8 USDNs) and then liquidated at a ratio of 1 NSBT for 1 USDN under the First in — First out (FIFO) model. Market makers and arbitration bots, launched by volunteers from the Neutrino community, also help to keep the rate stable at different exchanges.
What is DeFo?
DeFo (Decentralized Forex) is an extension built on top of the Neutrino protocol that enables instant swaps between stable-price assets tied to popular national currencies, indices or commodities. Swaps are carried out by a smart contract, which ensures reliability, transparency and virtually unlimited liquidity at a predetermined rate. All DeFo assets leverage the underlying Waves blockchain’s consensus algorithm to enable staking and thus provide asset holders with attractive annual interest rates.
DeFo is an open source solution that can also be integrated into any other interface. The first DeFo interface is available on Waves.Exchange.
