Waves stablecoin protocol Neutrino (USDN) locks up $5 million since launch

Neutrino, a stablecoin protocol based on the Waves blockchain, announced today that four months after the public beta launch, the stablecoin project has reached a key milestone; with $5 million worth of WAVES now having been deposited to the smart contract to generate USDN. In the case of the Neutrino dollar, TVL represents the collateral and the stake that backs USDN and generates returns.

TVL for Neutrino is calculated by taking the current balance held in the Neutrino smart contract and multiplying it by the market price of WAVES. Neutrino Stats (as of March 6, 2020) 3,455,515 USDN or 64% of the total issued Neutrinos are locked for staking.

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