{"id":1861,"date":"2022-12-22T11:50:29","date_gmt":"2022-12-22T11:50:29","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=1861"},"modified":"2023-04-04T05:17:19","modified_gmt":"2023-04-04T05:17:19","slug":"waves-founder-announces-usdn-as-a-new-stablecoin","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/waves-founder-announces-usdn-as-a-new-stablecoin","title":{"rendered":"Waves Founder Announces USDN as a New Stablecoin"},"content":{"rendered":"<p>Waves CEO and founder Sasha Ivanov promised days after USDN lost its peg with USD that his new stablecoin would be &#8220;undependable.&#8221;<\/p>\n<p>In Brief,<\/p>\n<ul>\n<li>A new stablecoin will be issued by Waves founder Sasha Ivanov after <a href=\"https:\/\/digitalcoinprice.com\/coins\/neutrino-usd\">Neutrino USD (USDN)<\/a> is stabilized.<\/li>\n<li>Recent falls have caused USDN to fall below $0.60, indicating difficulties maintaining the peg to the US dollar.<\/li>\n<li>It is part of a protocol that Ivanov described as more market-oriented.<\/li>\n<li>A new plan from Visa allows crypto wallets to pay bills <a href=\"https:\/\/digitalcoinprice.com\/blog\/a-new-plan-from-visa-allows-crypto-wallets-to-pay-bills\">Read Now<\/a><\/li>\n<\/ul>\n<p>A new stablecoin is planned for launch by Sasha Ivanov, the founder, and CEO of Waves. It will be backed by Waves and battle Neutrino USD (USDN).<\/p>\n<p>The USDN situation resolution plan, along with a new stablecoin project, was announced on Dec. 20 by Ivanov on Twitter.<\/p>\n<p>Waves founder wrote, &#8220;I will launch a new stablecoin which will be going to be recognized by the name of USDN.&#8221; He also said, &#8220;we will not announce anything until USDN is implemented.&#8221; He also swore that USDN would be &#8220;undependable.&#8221;<\/p>\n<p><strong>Also read:<\/strong> <a href=\"https:\/\/digitalcoinprice.com\/blog\/incoming-eu-laws-will-force-apple-to-permit-alternative-app-stores-and-apps\">Incoming EU laws will force Apple to permit alternative app stores and apps without the need to go through its App Store<\/a><\/p>\n<p>Sasha Ivanov shared with some journalists that USDN stable coin will be based on a &#8220;decentralized autonomous organization model&#8221; and a hybrid between algorithmic stablecoin.<\/p>\n<p>He documented that Waves cannot implement this approach on any other chain since it is native to Waves and added that it crashed because of the unsettled current USDN model.<\/p>\n<p>He said, &#8220;sadly, black swan events aren&#8217;t considered in incentive-based models. They work in 99.9% market conditions but cannot resist heavy market volatility.&#8221;<\/p>\n<p>The stablecoin will not be dumped regardless of USDN&#8217;s imperfections. &#8220;There will be no phase-out of USDN, we intend to keep USDN stable, and USDN will gain value from the new stablecoin,&#8221; Ivanov said.<\/p>\n<p><strong>Also Read:<\/strong> <a href=\"https:\/\/digitalcoinprice.com\/blog\/tether-will-reduce-secured-loans-to-zero-by-2023\">Due to FUD, Tether will reduce secured loans to zero by 2023<\/a><\/p>\n<p>According to the CEO, over-collateralization and adaptive algorithms must contribute to creating &#8220;unreliable assets.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Waves CEO and founder Sasha Ivanov promised days after USDN lost its peg with USD that his new stablecoin would be &#8220;undependable.&#8221; In Brief, A new stablecoin will be issued by Waves founder Sasha Ivanov after Neutrino USD (USDN) is stabilized. Recent falls have caused USDN to fall below $0.60, indicating difficulties maintaining the peg [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":1862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=1861"}],"version-history":[{"count":4,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1861\/revisions"}],"predecessor-version":[{"id":2799,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1861\/revisions\/2799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/1862"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=1861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=1861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=1861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}