Earn 15.31% annually by holding
USDN — a crypto asset tied to USD
Neutrino Dollar (USDN) is a financial instrument with a stable price tied to the US dollar (USDN = $1). USDN offers its holders rewards generated through staking — leasing tokens to miners operating on Waves blockchain.
USDN is the first stablecoin that allows investors to receive low-volatility rewards based on the underlying blockchain economy, since transactions are tied to the value of the US dollar.
USD-N tracks the value of the US dollar. You receive staking rewards tied to the US dollar
No price volatility
USDN solves the cryptocurrency volatility problem. The value of USDN remains completely stable, with the Neutrino algorithm managing its price
Controlled by you
You can always sell your USDN on the open market, as well as withdrawing your stake at any time
Rewards generated by staking USDN are paid out daily
How to get and stake USDN
You can buy USDN on an exchange or generate it through a smart contract. After that, you need to enable ‘staking’, the process of making your USDN holdings a part of the blockchain economy.
All WAVES deposited as collateral are leased to the Neutrino node. The mining rewards are transferred back to the Neutrino smart contract, automatically converted to USDN and distributed between USDN holders. Thus you can not only hedge volatility risks but also earn a return.
Currently, the annual interest rate for USDN is in the range of 15-25%. USDN is a liquid token. It can be redeemed into WAVES via the smart contract at any time, and already has trading pairs including WAVES/USDN and BTC/USDN.
To ensure the value of USDN remains completely stable, the Neutrino algorithm manages its price with a system of derivatives and payouts. Let’s consider two possible scenarios:
- WAVES price falls. An oracle ‘sees’ this and communicates it to a smart contract. The smart contract then issues and sells Neutrino bonds — USD-NB — on Waves.Exchange.
- WAVES price has risen. The smart contract liquidates USD-NB bonds purchased on the open market for 1 USD-N each. This profits bond buyers because USD-NB was issued at a price of less than 1 USDN.
Yes, the stability of the price of USDN is regulated by the Neutrino Protocol algorithm and by collateralized WAVES held in the smart contract. In other words, it is a hybrid of a cryptocurrency-backed and an algorithmic stablecoin.
Staking USDN generates daily rewards in the stablecoin itself. You can convert these rewards into other digital and fiat currencies at any time.
Yes, there are bonds (USD-NB) that are used to maintain the price of USDN. You can buy and sell USD-NB on Waves.Exchange.