In order to regulate USDN, the algorithmic, dollar-pegged <a href="https://www.cryptoknowmics.com/news/amber-group-acquires-300-million-via-fundraising">cryptocurrency</a> of the Waves network, Sasha Ivanov, the inventor of the decentralized, open-source blockchain Waves, <a href="https://twitter.com/sasha35625/status/1605135291802451969" target="_blank" rel="nofollow noopener">stated</a> that he will introduce another <a href="https://www.cryptoknowmics.com/news/bermuda-digital-bank-jewel-issues-fully-backed-stablecoin">stablecoin</a>.

https://twitter.com/sasha35625/status/1605135291802451969
<h2>Waves Blockchain Founder Unveiled 2 Things</h2>
Ivanov tweeted on Tuesday that first, he will create a new stable currency, and secondly, there will be a $USDN recovery and resolution plan set in motion prior. Ivanov stated that the new stablecoin would be undepeggable, but he offered no specifics or a timetable for its launch.

Stablecoins are cryptocurrencies whose values are tied to an outside standard, such as the dollar. <a href="https://www.cryptoknowmics.com/news/bybit-offers-new-kyc-rules-for-p2p-trading-fiat-deposits-and-nft-trades">Fiat</a>-backed, cryptocurrency-backed, commodity-backed, and <a href="https://www.cryptoknowmics.com/news/cardano-to-introduce-new-algorithmic-stablecoin-djed-in-2023">algorithmic</a> are the four categories into which they may be divided based on the collateral that supports their value.
<h2>Production of Stablecoin by Neutrino</h2>
WAVES, the native currency of Waves blockchain, serves as the foundation for USDN, an algorithmic stablecoin. In the Neutrino system, users must lock in WAVES in order to mint USDN, but repayments have the reverse effect by removing the stablecoin from circulation and releasing WAVES. The production of stablecoins is made possible by Neutrino, an algorithmic, multi-asset, price-stable Waves protocol.

Following the designation of WAVES as an "Investment Warning" asset by South Korea's Digital Asset Exchange Association, USDN, intended to exchange in sync with the dollar, dropped its peg last week. According to statistics from CoinGecko, the stablecoin dropped to $0.53 early today.

Waves Blockchain Founder Offers USDN Recovery Plan, New Stablecoin

In order to regulate USDN, the algorithmic, dollar-pegged cryptocurrency of the Waves Blockchain, Sasha Ivanov stated he will introduce another stablecoin.

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Waves Blockchain Founder Offers USDN Recovery Plan, New Stablecoin

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