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Neutrino, the developer of Waves ecosystem algorithmic stablecoin $USDN, has released a new proposal to increase $USDN reserves and stabilize its peg. Details of the proposal are as follows.
- Add support for Waves Ecosystem tokens to be deposited as backing in the Neutrino contract.
- The Waves Ecosystem teams ($WX, $VIRES, $SWOP, $EGG, and $WEST) will donate $15 million in total of each project's token directly to the Neutrino backing.
- Reactivate Swaps for Neutrino
- Offer $SURF and $NSBT holders an opportunity to receive Neutrino swap fees from all Waves ecosystem tokens including: $WX, $VIRES, $SWOP, $EGG, and $WEST.
- Restart unconditional vesting for users with $USDN locked in Vires Finance according to the daily withdrawal limits.
The Neutrino community will vote for approval of the proposal from December 22nd to December 26th, and if it gets passed, it will be implemented by developers from December 27th to January 5th.
According to Tokeninsight data, $USDN price increased 13.36% in the last 24 hours, trading at $0.570175 now.
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