USDN Will No Longer Exist, Instead Of It Is WIXT Not Be Forced To Peg To $1
The Waves ecosystem stablecoin USDN will be transformed into the Waves ecosystem index token WIXT, according to Waves ecosystem stablecoin issuer Neutrino. WIXT will not be obliged to peg to $1, but it will represent the value of the Waves ecosystem token instead of aiming to reach $1.
The WIXT technical litepaper will be made available by the Neutrino team around the end of January, and USDN will officially become WIXT by the middle of February. The inclusion of $15 million in ecosystem tokens as collateral through governance will come after this. The team acknowledges that the market volatility following recent events, especially the collapse of the FTX empire, it enables greater stability compared to a single-collateral stablecoin.
Source
https://t.me/InvestmentTradingUpdates
