Neutrino USD (USDN), the algorithmic stablecoin of Waves (WAVES), tumbled more than 10% on the day to as low as $0.90. Discussions on the sustainability of USDN, which lost its dollar stability for the second time in the last 15 days, are growing.
Known as the Russian Ethereum according to Coinecko data waves supported by stablecoin USDNthe date of issue from 1 February 2020 losing its stability for the fifth time in its history since 0.90 fell to the dollar. USDN at the time the news was written $0.92traded from.
of the year 2022 May about the company in ponzie (a financial fraud system) along with allegations 0.72 falling to the dollar the biggest USDN, which experienced depreciation, later 0.9870 regained their level of confidence. However, about the algorithm, the company founder Sasha Ivanov expressing their concerns It aroused a question mark in mind.
The company’s 2022 June Analysts said they knew Ivanov’s company could dissolve debts after it overcame its liquidity crunch during the month. your problem is in the model, not the debts they had stated. On top of that just 2 months Then again, USDN, which strayed from its constant, came to mind. bugs on the model may not have been corrected brings the possibility.