On the Waves Tech weekly community AMA on Dec. 23, Waves CEO Sashi Ivanov revealed the USDN revival plan, involving turning USDN into a multi-collateralized asset, a soft-pegged asset — WINDX.
This move will transform USDN into a “soft-peg” stablecoin, meaning that it will fluctuate around the value of $1, potentially a little higher or lower.
Despite the changes to USDN, current trading pairs and pools will remain active, even though USDN will no longer be a hard-pegged stablecoin.
Redemptions, bad debt, WINDX
SURF issuers can redeem USDN into this new asset, with incentives in place for people to issue it after the initial “bootstrapping” stage. In addition, the new asset will exist in perpetuity and can be used as a reserve asset.
The plan also involves transitioning to a new stablecoin, Neutrino 2.0, once the bad debt on Vires has been liquidated. This new stablecoin will use a mixture of algorithmic and DAO-governed approaches to keep its peg stable. The aim is to make U

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