Waves sunsets algorithmic stablecoin, converts USDN into index token
Developers of the Waves-based algorithmic stablecoin neutrino (USDN) will convert the asset into a Waves Ecosystem Index Token (WIXT) in an effort to rescue the project, which lost its US dollar peg several times so far.
The developers claim the transition will be a “win for all USDN holders.” It is expected that USDN will be converted to WIXT by mid-Feb, with $15 million worth of tokens to be added as collateral by Apr.