Can Neutrino (USDN) cash in on Algorithmic Finance?

The Neutrino (USDN) is a stablecoin designed to cash in on algorithmic finance. Neutrino is a decentralized stablecoin pegged to the US dollar that runs on the Waves blockchain.

They claim USDN can give holders a sustainable revenue of up to 15% annual percentage yield (APY) with its consensus algorithm. Additionally, they claim tokenholders can earn daily rewards by holding ERC-20 (Ethereum Request for Comment) USDN in a wallet or liquidity pool. The daily rewards comprise staking payments they base upon a 12% to 15% APY.

They built the Neutrino USD (USDN) stablecoin with Neutrino. Neutrino is an algorithmic price-stable assertization protocol that acts as an accessible DeFi toolkit. Developers can use Neutrino to build stablecoins pegged to specific assets, such as fiat currencies and commodities.

Waves (WAVES) is a Russian built blockchain similar to Ethereum (ETH). They built Waves to host scalable and user friendly apps. On 9 December 2021, they claimed Waves had $1.7 billion value locked in DeFi, processed 51,600 daily transactions, and processed 245 million total transactions.

The Neutrino Protocol

Users can stake USDN with the Neutrino protocol or issue USDN through the Neutrino Protocol. People who stake or issue USDN can receive a sustainable reward of up to 15%.

Uses for Neutrino stablecoins include trading national currencies on decentralized exchanges. Users can trade Neutrino stablecoins because Neutrino protocols facilitate instant swaps of stable-price assets tied to national currencies, indices, and commodities.

People who want to influence Nuetrino’s developments by buying the Neutrino Token (NSBT). The NBST is the governance token for the Neutrino protocol.

Neutrino and Waves

Interestingly, users can obtain USDN for Waves via a smart contract on the Neutrino website or the Waves Exchange. You can transfer USDN from WAVES to Ethereum through a smart contract or an exchange. They port USDN to the Ethereum blockchain via another smart contract.

To stake Neutrino, they mine Waves tokens with a consensus algorithm and transfer the Waves (WAVES) tokens back to Neutrino smart contracts that convert WAVES to USDN.

They base the USDN supply and APY on the Waves Market Capitalization. CoinMarketCap gave Waves (WAVES) a Market Capitalization of $459.322 million and Google gave Waves a Coin Price of $15.10 on 14 December 2021.

What Value Does does Neutrino (USDN) have?

Mr. Market gives Neutrino (USDN) some value. CoinMarketCap named Neutrino the 127th most valuable cryptocurrency and one of the 10 largest stablecoins on 14 December 2021.

CoinMarketCap gave Neutrino a Coin Price of 97.81¢. a Market Cap of $554.526 million, a Fully Diluted Market Cap of $554.306 million, and a 24-Hour Market Volume of $25.333 million on 14 December 2021. They based those numbers on a Circulating Supply of 566.934 million USDN.

In comparison, CoinBase gave Nuetrino a Coin Price of 98¢, a Market Capitalization of $554.5million, and a 24-Hour Market Volume of $25.3 million on 14 December 2021. They based those numbers on a Circulating Supply of 566.9 million USDN.

I think Neutrino (USDN) is an unstable stablecoin because its Coin Price was under $1 on 14 December 2021. Moreover, CoinBase reports Neutrino had an all-time high Coin Price of $1.20.

I consider Neutrino an interesting stablecoin. However, I advise speculators to be careful with Neutrino because it is unstable. On the other hand, Neutrino could generate income through staking and APY. If you are seeking a stablecoin that could be a good speculative investment, Neutrino is worth examining.