A multi-assetization protocol acting as an Interchain toolkit for friction less DeFi. It is powered by Waves Protocol.
Those looking for a plug and play algorithmic finance: “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.”
Those looking to 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.”
Governance: “Neutrino Token (NSBT) enables its holders to influence decisions concerning the Neutrino protocol, product and feature roadmap, as well as changes to governance parameters.”
For clarity, The Neutrino system has 3 core tokens: WAVES, USDN and NSBT. WAVES being the core token of the Waves blockchain is used to pay transaction fees.
Waves serves as a collateral for USDN, which is the main Neutrino stablecoin. USDN is the algorithmic stablecoin that is pegged to the US dollar.
It serves as a collateral for other Neutrino stable assets. NSBT is a recapitalization and governance token of the Neutrino protocol that ensures the USDN collateral reserves’ stability.
Apart from being available in the Waves blockchain, the USDN and NSBT tokens are available in the Ethereum and Binance Smart Chain ecosystems.
Getting to know entities available in Neutrino USD (USDN) is important. There are 5 types of on-chain and off-chain entities which exist and interact with each other in the Neutrino system, which gets linked together by smart contracts.
The 5 entities are users, price oracles, pacemaker oracles, Waves full node, and emergency oracle.
Users are those who have a Waves account, which are managed through Waves Keeper and Waves Signer extensions. The price oracles provide market price feed from different sources to the blockchain. Pacemaker oracles triggers transactions and they process complex computations using the non-Turing nature of the Ride language and calculation complexity limits.
The waves full node is a peer-to-peer blockchain network which operates based on the leased Proof of Stake algorithm. The node accumulates and distributes block rewards for the Neutrino dApp. The details of the full list of nodes is available online.
The emergency oracle is the account, which the community selects and this oracle is entitled with special privileges to halt protocol’s operations during situations where malicious hacking and the attack against smart contract infrastructure happen. After that reactivates to normalcy. However, this entity does not have additional control or access within the system.
Get the latest Crypto & Blockchain News in your inbox.