Understanding USDN Staking on Muna
What is USDN?
USDN (Neutrino Dollar) is an algorithmic stable coin cryptocurrency pegged to the US dollar and backed by WAVES. USDN is a stable coin like other stable coins such as USDT, Dai on EThereum.
USDN is a stable coin cryptocurrency that aims to keep its value as close to one United States dollar as possible through an automated system of Neutrino smart contracts on the Waves blockchain.
This means 1 USDN is always equal to $1
How it works
Your staked USDN leverages the staking reward system of the Waves monetary policy and LPoS consensus algorithm. Staking rewards are distributed according to your contribution to the network with additional USDN. This mechanism is different from most other DeFi instruments generating high yields through borrowing, in which you put your assets at risk of liquidation. There are no liquidation risk with USDN staking on Muna because your USDN is always equivalent to US dollar in value.
What you should know
- Upto 15% yearly interest per year. Rewards are generated and paid out on a daily basis
- 1 USDN = $1. Hedge against market volatility from the comfort of your wallet
- USDN is decentralized. USDN staking is governed by a smart contract, not by a central authority
- USDN is Tamperproof. Neutrino’s smart contract resilience is verified by an independent audit
How safe is USDN Staking?
Unlike other cryptocurrencies, USDN price doesn’t fluctuate in price. It is always equal to the US dollar in value. 1 USDN = $1. Muna offers everyone the option to buy and sell USDN at all times at market rates.