sdn

ChainCatcher news, according to The Block, stablecoin company Noble has launched a yield-bearing stablecoin USDN and introduced a new "points" program to provide users with another way to earn yields.USDN programmatically distributes the earnings generated from its holdings of short-term U.S. Treasury bonds to developers, application builders, validators, wallets, and trading platforms, thereby "creating a brand new incentive alignment model."

ChainCatcher news, based on the Cosmos blockchain, has launched a new USD-pegged stablecoin USDN using the decentralized stablecoin infrastructure provided by M^0 for the first time.M^0 is a protocol on Ethereum that offers a "stablecoin extension engine," allowing developers to adopt the M^0 standard stablecoin $M and customize various features, including branding, built-in compliance tools, and yield distribution.USDN will utilize $M as its "core building block," providing a "trustworthy neutral digital dollar" for the broader Interchain ecosystem.

ChainCatcher news, the Neutrino team announced that the proposal to transition USDN from a stablecoin to a Waves ecosystem index token (WIXT) has been accepted. WIXT will be backed by a basket of Waves ecosystem tokens and will no longer be pegged to 1 dollar.The Neutrino team will release the WIXT technical whitepaper at the end of January and will completely rename USDN to WIXT in mid-February. (source link)

ChainCatcher news, the Waves ecosystem stablecoin protocol Neutrino's proposal to convert USDN into a soft-pegged multi-collateral asset has been approved with a 99% support rate.It is reported that the project will not only receive support from WAVES but will also accept WX, SWOP, VIRES, EGG, and WEST as collateral. The Waves ecosystem team will directly donate a total of $15 million in tokens from each project to Neutrino as support, and later, other ecosystem tokens can be added to the collateral through voting. In addition, the project will reactivate swaps between USDN and WAVES ecosystem tokens to incentivize users to burn USDN. (source link)

ChainCatcher news, the Waves ecosystem algorithmic stablecoin project team Neutrino has released a new proposal to increase USDN reserves and stabilize its peg, restoring arbitrageurs' confidence in maintaining USDN's peg. The proposal includes: increasing support for Waves ecosystem tokens; supplementing a total of $15 million in Waves ecosystem project tokens as collateral for USDN; reactivating USDN Swap; providing SURF and NSBT holders the opportunity to collect Neutrino Swap fees from all Waves ecosystem tokens; and restarting unconditional redemption services for users locking USDN in Vires Finance (amount subject to daily withdrawal limits).It is reported that the proposal will be voted on in the community from December 22 to December 26, and if approved, it will be implemented by developers from December 27 to January 5. (source link)

ChainCatcher news, Waves founder Sasha Ivanov tweeted that a new stablecoin will be launched, and there will be a solution for the USDN de-pegging situation beforehand.According to GoinGecko market data, the current price of the Waves ecosystem stablecoin USDN is $0.58, up 4.2% in the last 24 hours. (source link)

ChainCatcher news, according to Coinmarketcap data, the price of the Waves ecosystem stablecoin USDN has been continuously declining, dropping to a low of around $0.55 at 15:35 today, and currently rebounding slightly to $0.72, down over 9% in the last 24 hours.Additionally, Chainlink data shows that the current USDN price is $0.69. (source link)

ChainCatcher news, according to Chainlink data, the price of the Waves ecosystem stablecoin USDN has dropped to $0.787, experiencing a significant de-pegging. CoinGecko data shows a nearly 7% decline today. (source link)

ChainCatcher news, regarding the algorithmic stablecoin Neutrino USD (USDN) depegging and being flagged for risk by Upbit and Bithumb, the public chain Waves responded that USDN is an independent project built on the Waves blockchain, using WAVES as collateral, but has no intrinsic connection to the WAVES token. The only way USDN directly affects the price of WAVES is by redeeming WAVES from the contract and selling WAVES on the market.Waves stated that only 4.2% of the total supply of WAVES is held in the Neutrino smart contract, which is equivalent to 9.8% of the daily trading volume across all exchanges. USDN has no role in the issuance of WAVES and does not increase the supply of WAVES. Due to Neutrino's daily redemption limits and support rate protection, it is impossible to exhaust all reserves. (Source link)

ChainCatcher news, the South Korean cryptocurrency exchange Upbit announced that WAVES (Waves) has been marked as an "Investment Warning" by the Digital Asset Exchange Association (DAXA).Due to the de-pegging of the Waves ecosystem stablecoin Neutrino USD (USDN), its collateral WAVES has been marked as an "Investment Warning," indicating a risky asset. According to CoinGecko data, Neutrino USD (USDN) is currently priced at $0.85, with a 24-hour decline of 3.3%. WAVES (Waves) is currently priced at $2.16, with a 24-hour decline of 7.4%. (Source link)