Neutrino USD (USDN)
| Market Cap | $252,013,163 |
|---|---|
| Trading Volume | $799,815 |
| Volume / Market Cap | 0.003174 |
| Total Supply | 680,266,899 USDN |
| Max Supply | – |
Neutrino USD is currently trading at $0.3705, after a price change of -12.00% in the last 24 hours.
Ranked as cryptocurrency #111 by capitalization today, USDN market cap is valued at $252,013,163. USDN trading volume reached $799,815 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on USDN coin price prediction page.
What is Neutrino USD?
Neutrino, USDN, is an algorithmic crypto-collateralized stablecoin based on Waves protocol that is backed by the US dollar. Waves is secured via the Leased proof-of-stake consensus algorithm that leases WAVES tokens to trusted nodes. The protocol uses smart contracts to manage all transactions about USDN. The smart contracts are written in the Ride programming language and hosted in Waves protocol. The Waves exchange platform hosts most of the operations of the Neutrino protocol. The stablecoin allows cryptocurrency users to exchange funds across multiple applications and exchanges in a less volatile asset.
There are 643,507,488.05 circulating USDN tokens from an uncapped total supply of 643,508,087. USDN is completely collateralized by WAVES tokens and backed at a 1:1 ratio to the USD. Arbitration bots correct any price deviation from the set ratio. To obtain a USDN, users must invoke the function swapWavesToNeutrino in the Neutrino smart contract. The smart contract conducts WAVES to USDN swapping at the prevailing price. Neutrino platform uses leasing to incentivize users to issue more USDN. Stakers of USDN get fees from the leased collateralized WAVES reserves in USDN coins.
USDN was launched by the Neutrino protocol in 2019.