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The cryptocurrency industry has seen incredible advancement throughout the years, going from a basically worthless Bitcoin on day one, to a massive, multi-trillion dollar (at its peak) market, with over 19,000 cryptocurrencies available today, plus multiple major active trends, such as DeFi, NFTs, Metaverse, blockchain gaming, Web3, and more. It is safe to say that the cryptocurrency industry will likely never again be proclaimed dead, a scam, and alike, as the adoption is picking up rapidly through these various trends.
However, there are still things that stand in the way of adoption. The lack of regulations is still a massive factor, although the regulators around the world are finally serious about bringing rules and laws for the crypto industry, so we can say that this is still a work in progress, but there is work dedicated to it, regardless.
The matter of volatility is a more difficult problem to solve, however. As you know, the crypto industry is decentralized, meaning that there is no centralized authority to control it, or guarantee its worth. There are no real-world assets to add these coins to their price, and it is entirely based on supply, demand, and usefulness. This makes it difficult to use crypto for things like paying salaries to workers and similar situations where people need their coins to have semi-reliable value. This is what Neutrino USD aims to change, by making it simple to create stablecoins and grant users the opportunity to develop their own unique coins for specific purposes.
What Problems Does Neutrino USD (USDN) Solve?
Neutrino USD aims to make stablecoin creation available, which might be a huge boost for the progression of adoption throughout the industry. Essentially, it offers a series of solutions to achieve this, such as:
Easy creation of stablecoins
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.
Next, 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.
3 core tokens
The Neutrino system consists of 3 core tokens – WAVES, as the project is based on the WAVES blockchain; USDN, which is its native cryptocurrency, and NSBT – its recapitalization and governance token that ensures the USDN collateral reserves’ stability. WAVES is also used for paying transaction fees and collateral for USDN, while USDN is the project’s own stablecoin, pegged to the US dollar.
Benefits of Neutrino USD (USDN)
Next, let’s take a look at what benefits Neutrino has to offer to its users, specifically. These are not the things that it brings for the benefit of the broader DeFi ecosystem, but for each individual that joins its protocol. So, we have:
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.
Earning power in the Neutrino protocol
We mentioned NSBT as one of Neutrino USD’s three core cryptocurrencies, and it is important to note that, if you opt to stake this coin for a certain period, it will not grant you crypto rewards, but rather gNSBT. This is not a token, specifically, but rather a power measurement unit within the protocol’s ecosystem.
The more gNSBT the user has, the more passive income they can receive from transaction fees, so there is a way to earn from NSBT staking, as well.
Another thing that you get from staking NSBT and gaining gNSBT is the influence that you have in the project’s voting system. The project offers its users to participate in its governance by allowing gNSBT holders to influence decisions regarding the protocol. This includes things such as changing the smart contract parameters, roadmap, and the product itself. It is a pretty similar deal to the ones that come from other projects’ governance systems, only you don’t use the project’s main cryptocurrency to measure the weight of your vote, but rather the amount of gNBST, which you increase by staking more NBST.
How Does Neutrino USD (USDN) Work?
The Neutrino protocol is an algorithmic price-stable assetization protocol that allows users to create stable cryptocurrencies (stablecoins) tied to real-world assets or cryptocurrencies. The Neutrino protocol is represented by a set of smart contracts that interact with one another, and are all written in a programming language called Ride.
The project, and all of its smart contracts, run on Waves blockchain, which also gives WAVES token a significant role in the Neutrino USD’s ecosystem. Other than WAVES, the project also relies on two other coins — its native and main stablecoin, USDN, as well as the NSBT, which is used for staking and can grant users voting powers and passive income through transaction fees.
There are a lot of nuances and details surrounding this project, so if all of this sounds interesting to you and you believe that it has a future in the broader crypto industry, definitely check it out and consider supporting the project.
How to Buy Neutrino USD (USDN)
Currently, Neutrino USD (USDN) is available for purchase on the following exchanges.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. USA Residents are Prohibited.
Neutrino USD (USDN) — An algorithmic price-stable assetization protocol
Neutrino USD is an interesting project that allows for the easy creation of stablecoins backed by fiat currencies, various commodities, and similar real-world assets of value. As such, it can significantly impact the adoption of the crypto industry and still have people usefully decentralized cryptocurrencies that are stable and reliable. No longer will people have to fear what will happen if they switch to crypto payments and the bear market arrives. Stablecoins are immune to volatility thanks to the fact that they are backed by other assets of value, and that removes a major obstacle to broader crypto adoption.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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