Neutrino Protocol - Official channel

2023-01-04 22:32:17 New voting for ideas

Dear community,

The Neutrino team has just submitted voting for idea to implement USDN soft peg and limit the maximum possible profits made by arbitrageurs during the conditions of heavy depeg. The introduced mechanics will allow to calculate BR value based on the current USDN market price and avoid draining the reserves.
Please proceed to reading the description and voting. Open / Comment

2023-01-01 18:55:34 Happy New Year! Open / Comment

2022-12-30 16:03:43 Reducing USDN->WAVES Max Swap Amount

Dear users,

The community has recently voted for reducing USDN->WAVES Max Swap Amount.

Changing this parameter does not require complicated development but it will reduce risks during multi-collateral system deployment. We decided to implement it now, so that we don't need to do it next year. The "a" parameter will be changed from 0.63 to 0.15, see the following Example Open / Comment

2022-12-27 15:41:50 SURF Announcement

Dear community,

To prevent SURF price arbitrage in the current conditions of the expected significant increase of BR value, the Neutrino team disabled the ability to buy SURF via smart contract.

We will inform you when buying SURF will become available again. Open / Comment

2022-12-27 10:56:37 Voting Results

Dear community,

We want to thank you all for participating in the votings for ideas that have finished with the following results:

Transform USDN into a multi-collateral asset - quorum reached, 99% voted "yes"
Enable USDN arbitrage - quorum reached, 99% voted "yes"
Disable USDN BR Protect mechanic - quorum not reached

The votings showed that the community approves the suggested ideas, so the Neutrino team will stick with the earlier announced plan and go on with developing the changes. Open / Comment

2022-12-25 14:49:32 Dear Neutrino community,

Our team wishes you a Merry Christmas. Your support is very valuable to us, and, especially, at this time. May all of your Christmas wishes come true. And let's keep building a decentralized future together! Open / Comment

2022-12-23 21:24:38 USDN Resolution Plan

Dear Community,

The Neutrino team needs to know your opinion about the USDN Resolution Plan that was published yesterday.
Before we start working on implementing it, please participate in our votings and share your feedback or ideas at the forum!

VOTING 1
The transformation of USDN into a multi-collateral token with a soft peg

VOTING 2
Enabling USDN arbitrage

VOTING 3
Disabling USDN BR Protect mechanic Open / Comment

2022-12-23 16:53:07 We're kicking off the AMA with Sasha in 20 minutes! Tune in here! Open / Comment

2022-12-23 14:34:12 We continue the tradition to meet up on Fridays! Today at 9:00 AM (EST) Sasha will join our weekly AMA to discuss $USDN resolution plan, previously published on our blog.

Ask your related questions in the comments - Sasha will answer them live! Open / Comment

2022-12-22 16:30:50 $USDN Resolution Plan is here!

Turn USDN into an index asset for the Waves Ecosystem by accepting $WX, $SWOP, $VIRES, $EGG, and $WEST as collateral.

Read the full proposal

The proposal

Add support for Waves Ecosystem Tokens

Why?
To diversify and increase the collateralization of USDN and allow USDN to benefit from the price appreciation of Waves Ecosystem tokens.

Donate $15million in Ecosystem tokens to Backing

Why?
Improve Backing to 20% and quarantine the contagion that the weak USDN price is spreading across Waves ecosystem projects.

Reactivate Swaps for Neutrino

Why?
Reactivating swaps will restore an extremely lucrative arbitrage opportunity for traders, which has historically been a highly effective mechanism for maintaining USDN’s peg to a dollar.

NSBT and SURF holders earn income in basket of tokens

Why?
By increasing the diversity of incentives, we can speed up the recapitalization of reserves.

Restart Vires Vesting, independent of peg

Why?
USDN Vesters can claim USDN everyday regardless of its price.

Roadmap

23rd Dec - 26th Dec
Neutrino community voting for approval of resolution plan (multicollateral ecosystem tokens + new swap mechanic)

27th Dec - 5th Jan
Developer Implementation

6th Jan - 10th Jan
Voting for update contracts and UI

Voting starts tomorrow!

Tomorrow's AMA with Sasha will be to answer all community questions about this proposal. Ask your questions here in the comments Open / Comment