Waves Exchange launches decentralized staking

Waves.Exchange is a hybrid crypto asset exchange platform built on the basis of Waves blockchain technologies.28On January, the service launched decentralized support for staking using Neutrino Dollar (USDN).

As a solution that does not implyasset blocking, Waves.Exchange users will be able to receive regular remuneration from staking, while remaining full owners of their capital. Such a scheme reduces the risks caused by volatility and makes cryptocurrency staking more accessible than ever.

The first on the platform to placeNeutrino Dollar is an algorithmically stable cryptocurrency tied to the value of the US dollar. USDN, in turn, is provided by the WAVES token, the main token of the Waves blockchain platform. USDN operates on an open source protocol and is designed to provide WAVES token holders with the opportunity to escape from volatility and at the same time open up additional sources of income, including staking.

Currently, the estimated annual income from staking USDN can reach 13% and higher. Although this figure may vary depending on the capitalization of WAVES tokens.

To achieve stability, Neutrino usesalgorithm for automatic USDN issuance in the event of a price increase for WAVES tokens. They are stored in a special reserve fund, which will be used to cover the difference in the exchange rate if WAVES tokens start to get cheaper. This process is supported by a network of oracle blockchains that supply Neutrino smart contract pricing data.

If coverage is insufficient,in return, the smart contract will create a token bond known as USD-NB, which can be bought at the current market rate at Waves.Exchange for USDN. These USDN will be used to correct the market deficit. At the same time, USD-NB can be liquidated on a first-come-first-go basis (FIFO) to help adjust the value of USDN.

Since USD-NB can trade floatingexchange rate, a token bond is also an attractive financial tool for traders working with high risks. Since USD-NB purchased at a parity price below $ 1, it can subsequently be sold for USDN at a 1: 1 exchange rate. For example, even if you buy 10 USD-NB for 8 USDN and later sell for 10 USDN, such a transaction will bring 25% of the profit.

Unlike many other stablecoins, operationsNeutrino is absolutely transparent, because its smart contract and its associated addresses can be easily checked in the public blockchain. This eliminates the problems most stablecoins face, including suspicions of incomplete provision and delayed emissions.

Reference:

WavesExchange is a hybrid cryptocurrency exchange with staking support that allows you to transfer, trade and issue cryptocurrencies. The platform combines the security of a decentralized system with the capabilities and benefits of a traditional centralized exchange. Launched in 2017 under the name Waves DEX, currently

Waves.Exchange is a standalone service. Waves.Exchange offers its customers fast and reliable trading mechanisms, low prices, APIs and mobile applications. And also - operations with almost all major cryptocurrencies: BTC, ETH, LTC, WAVES, USDT, XMR. Plus - access to many other resources, including more than 30 thousand tokens created using the Waves protocol.

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