Neutrino Dollar (USDN) Algorithmic Stablecoin Backed by Waves, the peg slipped, dropping to $0.81.
in the postMost recently, Waves confirmed that USDN is a separate project that uses WAVES as collateral and is not linked to the original token.
“USDN is a separate project built on the Waves blockchain, which uses WAVES as collateral. The only way USDN can directly affect the price of WAVES is through exchanging WAVES from contracts and selling WAVES in the market.”
It all started when the Digital Asset Exchange Association (DAXA), which comprises five major crypto exchanges (Upbit, Bithumb, Coinone, Korbit and Gopax) in South Korea, warned users against investing in WAVES, citing the high volatility it caused. from the USDN that has dropped the peg
Upbit – Announced that the platform is preparing to suspend the WAVES/KRW and WAVES/BTC trading pairs and will review the token over the next two weeks to determine the course of action.
Waves said it was cooperating with the investigation to mitigate it. The team behind the open-source platform also said it was a “serious and obvious misunderstanding” of the relationship between WAVES and USDN. There is great confidence that a resolution will be reached within the two week investigation period.
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