Neutrino USD (USDN), an algorithmic stablecoin of the Waves ecosystem, lost its U.S. dollar peg 38 times since 2020. Waves Founder and Lead Developer Sasha Ivanov addresses the criticisms surrounding algorithmic stablecoins, discussing the “drastic” difference between Terra’s UST and USDN.
Waves governance token holders have voted to give investors a choice between moving forward with withdrawal requests or waiting until market conditions improve.
Neutrino USD (USDN), an algorithmic stablecoin of the Waves ecosystem, lost its U.S. dollar peg in April and again in May amid the collapse of TerraUSD (UST), but has since recovered.
During a shortened week in traditional markets, with U.S. stock exchanges closed on Friday, bitcoin struggled for direction, hovering around $40K, while DOGE and SHIB experienced wild swings.