Waves stablecoin protocol Neutrino (USDN) locks up $5 million since launch

Dollar neutrino (USDN) is a crypto-backed token pegged to US dollar. The first stablecoin protocol which gives holders the ability of staking with rewards generated on Waves...

Waves stablecoin protocol Neutrino locks up $5 million since launch

Neutrino, a stablecoin protocol based on the Waves blockchain, announced today that four months after the public beta launch, the stablecoin project has reached a key milestone; with $5 million worth of WAVES now having been deposited to the smart contract to generate USDN.

TVL (Total Value Locked) is one of the most important metrics that reflects the adoption rate of a DeFi app. It indicates the total value of the crypto committed to the smart contract that powers the service.

In the case of the Neutrino dollar, TVL represents the collateral and the stake that backs USDN and generates returns. TVL for Neutrino is calculated by taking the current balance held in the Neutrino smart contract and multiplying it by the market price of WAVES.

Neutrino Stats (as of March 6, 2020)

USDNs can be issued or redeemed back to WAVES using the Neutrino portal, or traded on several exchanges. In addition, users can stake Neutrino Dollars using the Neutrino dApp interface or Waves.Exchange.

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