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    Cryptocurrencies Neutrino USD
    $0.320036 $ 0.320036
    +¥5204,24 -2.6% 1D
    1D 1M 1Y ALL
    No data
    Market Cap (USD)
    24H Volume
    Circulating Supply
    61.35M USDN
    Max Supply
    All Time High




    • About Neutrino USD (USDN)

      As a public chain initiated in Russia, Neutrino is an algorithmic stablecoin protocol built on Waves. It takes WAVES, Waves' native token, as collateral.

      USDN (USD-Neutrino) stablecoins can be minted by locking WAVES tokens in smart contracts. For every certain amount of WAVES locked, the same certain amount of USDN can be minted. In the same way, it is also possible to redeem a certain amount of USDN for a certain amount of WAVES based on smart contracts. During this process, arbitrageurs can operate by themselves to maintain the price of USDN at around $1.

      When the market demand for USDN increases and the price exceeds 1 USD, traders can exchange WAVES tokens for USDN through the Neutrino protocol smart contract, and then sell them in the market to complete arbitrage. This way, the amount of USDN circulating in the market will increase, and the price of USDN will fall back to $1.

      When there is too much USDN circulating in the market and the demand is insufficient, and the price of USDN is lower than 1 USD, traders can also buy USDN at a lower price in the market and exchange it for WAVES through smart contracts. Since there is a discount when users buy USDN, this method can be used to achieve arbitrage, bringing the price of USDN to $1.

      How Neutrino works

      The operation of the entire Neutrino ecosystem is inseparable from three core tokens: WAVES, USDN and NSBT (Neutrino System Base Token). Among them, WAVES is the native token of the Waves blockchain, which is used to pay transaction fees in the network. In addition, WAVES is also the collateral for the stable currency USDN in the Neutrino ecosystem. It is worth mentioning that USDN is not only an algorithmic stablecoin pegged to the US dollar but also collateral for other stable assets of Neutrino. As for NSBT, it is an asset reorganization and governance token in Neutrino. Its function is to replenish the reserve by issuing and auctioning NSBT whenever the USDN reserve is insufficient, thereby ensuring the value of USDN.

      Unlike MakerDAO, Neutrino hasn’t been over-collateralized. The role of the oracle machine is to ensure that the value of WAVES and USDN are equal at the moment of each exchange, and then the price of WAVES will fluctuate with the market. Reserve assets may either run out or surpluses. The protocol uses the Backing Ratio (BR) to represent the ratio of the reserve value to the USDN issuance, that is, BR = $R/S.

      When the price of WAVES falls, the reserve assets are not enough to cover the issuance of USDN stablecoins. At BR1, the smart contract repurchases NSBT through USDN to liquidate the additional NSBT. Traders participating in the auction and liquidation process can buy NSBT with WAVES at a discount through public auctions, and can also sell NSBT for USDN. Participating in the auction to buy NSBT is also betting on the rise of WAVES to a certain extent. NSBT plays the role of a bond. Only when the agreement generates a surplus and makes BR>1, the agreement will repurchase NSBT.

      The exchange of WAVES to USDN (or USDN to WAVES) takes 60 minutes to 7 days (60 to 10080 blocks). The final settlement will be traded at a random time within this range. The exchange ratio may change during this period. The moment of final settlement shall prevail, and the transaction cannot be cancelled midway. This exchange method ensures randomness, enables smart contracts to be executed fairly, and cannot affect the market by manipulating the price of the oracle machine in the short term, but it also brings greater uncertainty to users.

      What is USDN?

      USDN is an algorithmic stablecoin issued by Neutrino. It is an algorithmic stablecoin issued by an encrypted digital currency mortgage, and its issuance is mortgaged by the locked WAVES market value.

      USDN is automatically issued on the smart contract through the price oracle, the price algorithm. Based on the assumption that the market price of WAVES tokens relative to a reference asset (such as USD) is always above zero, some WAVES tokens can lock a certain amount of smart contract accounts, able to “mint” a certain amount of USDN, the stablecoin of USD-Neutrino, which is tied to the USD price. When the market capitalization of USDN is equal to the locked asset, a balance is reached and the Neutrino market capitalization (NMC) is equal to price * quantity - USDN market capitalization and WAVES market capitalization (WMC) is the market value of all bound WAVES.

      USDN Crypto Wallet

      In addition to placing USDN in the Gate.io exchange for easy trading, users can also save USDN in a crypto wallet.

      Cryptocurrency wallets are different from wallets in daily life. Cryptocurrency wallets do not store cryptocurrencies but the addresses used to trade USDN and the private keys that match the addresses. The address is used to store the encrypted currency, and the private key is to confirm the transaction. We can say that the encrypted currency wallet is similar to a data package that stores bank cards and bank card passwords.

      Depending on the network environment, cryptocurrency wallets can be roughly divided into "cold wallets" and "hot wallets". A cold wallet is an offline wallet, which refers to a local offline wallet that is not connected to the Internet. Because cold wallets are not connected to the Internet, they can better resist hacker attacks and have an advantage in storing cryptocurrencies. On the other hand, cold wallets also have the disadvantage that once you lose the account password and other information logging into the wallet, you can no longer use the wallet or retrieve cryptocurrencies. Hot wallets, also known as online wallets, refer to cryptocurrency wallets connected to the Internet. When using the hot wallet, you need to enter the local login information, and you can enter the wallet only after the server has passed the authentication. In the Internet environment, hot wallets can perform operations such as cryptocurrency transfers and collections at any time. Compared with cold wallets, they are more convenient and fast, but they are also vulnerable to hacker attacks.
    • Neutrino USD Market

      Currency Price 24h Change Action
      Neutrino USD
      USDN /USDT
      0X Margin
      $0.320036 -2.6% Trade
      Neutrino USD
      USDN /USDT
      $0.320036 -2.6% Trade

    Neutrino USD FAQs

    • 1. What determines the price of Neutrino USD?
      There are two schools of thought in determining the price of Neutrino USD.

      By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Neutrino USD, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Neutrino USD from a long term perspective.

      By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Neutrino USD on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Neutrino USD as well.

      HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Neutrino USD and the cryptocurrency market as a whole.
    • 2. What is the highest price of Neutrino USD in history?
      Neutrino USD achieved the all-time high of €2.32 in 2021-03-17, and is currently trading at €0.29.
    • 3. What is the lowest price of Neutrino USD in history?
      In 2023-01-20, Neutrino USD reached the all-time low of €0.25.
    • 4. Should I buy Neutrino USD now?
      It is important to remember that Neutrino USD, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.

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