Waves Exchange begins staking contest with Neutrino (USDN) stablecoin

Waves Exchange begins staking contest with Neutrino (USDN) stablecoin

Late last year, Waves, the custom blockchain application platform, relaunched its DEX, consolidating it into the new hybrid Waves Exchange.

And last month, the Waves Exchange team opened up a fiat gateway; enabling users to make zero-fee cryptocurrency purchases with their cards.

Waves Exchange is now holding a staking contest with cashback and a lottery

Staking is the process of holding cryptocurrency in a wallet to support the operations of the Waves Platform open protocol. Users lock their tokens and receive rewards for helping maintain the network.

The contest is using recently launched Waves stablecoin protocol Neutrino Dollar (USDN).

USDN is an algorithmic stablecoin, pegged to the US dollar (1 USDN = $1). The token’s price stability is regulated by the Neutrino Protocol algorithm and backed by WAVES held in the smart contract.

Currently, the estimated annual return for USDN staking is 9.92%. Within the last month, the rate has been as high as 19.32%.

Cashback: Contest period: March 19 — April 20

All users who purchase at least 10 USDN after the start of the competition will receive an additional 1 USDN. The bonus will be automatically credited to balances within one week of completing the conditions of the contest (see below).

Lottery: Draw dates March 26, April 2, April 9, April 16 and April 20

There will be a lottery with five separate draws, in which participants can win a total of 500 USDN. Wave’s will determine the winners via the Waves blockchain Randomizer, ensuring transparent and fair selection. Check out how the Randomizer works here.

How to Participate

To receive a cashback bonus and to participate in the lottery, complete the following steps:

  1. Buy at least 10 USDN with a debit or credit card (there are no commission fees).
  2. Deposit USDN via the Neutrino staking dashboard.
  3. Submit a wallet address to the Telegram bot: @waves_exchange_bot. The bot will add the user to the cashback list and notify about contest updates.
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