Algorithmic stablecoin USDN from Waves strengthens divergence from the US dollar
- August 26, 2022
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On August 26, the rate of the Neutrino USD (USDN) algorithmic stable clone dropped to $0.905. This is the fourth episode of the pair’s loss to the US
On August 26, the rate of the Neutrino USD (USDN) algorithmic stable clone dropped to $0.905. This is the fourth episode of the pair’s loss to the US dollar in 2022.
On April 4, the price of the asset dropped to $0.729. Subsequent divergences were less dramatic.
In April, Waves Platform CEO and founder Alexander Ivanov accused Alameda Research of manipulating the price of WAVES. [обеспечивает USN] and organizations FUD– campaigns for panic selling of an asset. His opponent, Sam Bankman-Fried, called such allegations “poorly made conspiracy theories.”
At the time of writing, WAVES is down 3.2% to $4.9. Since mid-June, the asset has been trading in the $4.3-$7.3 range.
On August 24, the project team made changes to the protocol parameters previously approved by the community. These include adjustments to the maximum trade amount, support rate maintenance mechanics, and improved reward distribution.
⚡️Update
We applied the changes from the last vote.
✅USDN>WAVES Maximum Trade Amount depends on current BR. WAVES>USDN Max. Swap Amount has not changed
✅BR protection added
✅Improved reward distribution among gNSBT, SURF and NSBT shareholdersEnjoy 😎 pic.twitter.com/O4e94VfG4U
— Neutrino Protocol 🌊 (1 ➝ 2)🏄🏻♂️ (@neutrino_proto) August 24, 2022
Recall that in August the Polkadot-based AUSD stablecoin dropped to $0.05 after a hacker attack.
Later, stablecoin HUSD, issued by Stable Universal, lost its peg to par with the dollar.
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