2022-12-22
Sasha Ivanov, founder, and CEO of the Waves blockchain platform is planning to launch a new stablecoin amid the ongoing crisis of Waves-backed stablecoin, Neutrino USD (USDN).
This post on 20, Dec 2022 shows his plan to solve the USDN crisis along with a new Stablecoin project.
According to the new stablecoin is a hybrid between an algorithmic stablecoin and it depends on a decentralized autonomous organization model, moreover, "It will be implemented using an approach which is native to Waves and cannot be implemented on other chains," he noted.
Ivanov said
one of the main reasons for the USDN's problems is that the current USDN model
is inconsistent with current market conditions, and added that a stronger model
should be developed, referring to the USDN as a "motivating
stablecoin."
"However, USDN is imperfect, but Waves has no plan to desert the stablecoin. "USDN will not be completely phased out, we’re absolutely committed to stabilizing USDN and the new stablecoin should actually help USDN to restore its value," Ivanov stated. The CEO said more over-collateralization and adaptive algorithms will help create " un-depeggable assets."
Source link: cointelegraph.com
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