Waves to launch new stablecoin after USDN depegs

Waves CEO and founder Sasha Ivanov plans to release a new stablecoin as the controversy surrounding Waves-backed stablecoin Neutrino USD (USDN) continues.

According to Ivanov, the new stablecoin would be “a hybrid between an algorithmic stablecoin.” And will be built on the decentralized autonomous organization paradigm. It will be accomplished using a method that is unique to Waves and hence impossible to replicate on other chains.