At the Waves Tech Weekly Community AMA on December 23rd, Waves CEO Sashi Ivanov unveiled the USDN revival plan, which includes transforming the USDN into a multi-collateral asset, or soft-pegged asset, WINDX.
The move will turn USDN into a “soft peg” stablecoin.
Despite the change to USDN, USDN will no longer be a hard-pegged stablecoin, but its current trading pairs and pools will remain valid.
Redemption, NPLs, WINDX
The SURF issuer could have an incentive for people to issue it after the initial “bootstrap” stage to redeem their USDN for this new asset. and can be used as a reserve asset.
The plan also includes a move to a new stablecoin, Neutrino 2.0, once Vires’ bad debt is cleared. This new stablecoin uses a combination of algorithmic and DAO approaches to maintain peg stability. Its purpose is to make USDT and USDC owners perfect by settling Vires’ bad debts.
Ivanov explained that the goal is to liquidate a small Vires account in the coming months and launch a new generation of decentralized WAVES gateways in January.
Ultimately, we aim to turn USDN into a reserve asset that maintains a soft peg around $1 while also solving the problem of Vires and launching new stablecoins in the future.
Fighting FUD
When asked about Upbit’s ongoing status, Ivanov said the delisting of Waves is unlikely to affect Waves much, but “would hurt.” [Upbit] user. “
Despite the continued uncertainty surrounding Waves, Ivanov remains optimistic.
“unforgivable [FUD] break us down
