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Neutrino Index is a DeFi platform on Waves founded by Alexander Ivanov. Its algorithmic XTN token is collateralized by ecosystem assets and rewards liquidity providers, while NSBT handles governance. The network relies on the WavesNG proof-of-stake mechanism for security and features a decentralized exchange for trading without central intermediaries.
The Neutrino Index operates as a decentralized financial (DeFi) platform built on the Waves blockchain. It changed the name of its index token from USDN to XTN. The ecosystem features two native tokens: XTN and NSBT.
XTN is an algorithmic, crypto-collateralized indexcoin supported by three tokens from the Waves Ecosystem: WAVES, WX, and VIRES. Its primary role is to drive user engagement within Neutrino by rewarding individuals who supply liquidity to the system.
The second token, NSBT (Neutrino System Base Token), serves governance functions. It enables users to vote on the future direction of the Neutrino protocol and helps maintain the stability of collateral reserves in Neutrino’s smart contract.
New NSBT tokens are created when a user locks WAVES tokens into a contract. This action provides extra backing and protects the system against deficits. Holders can stake their tokens to earn a share of the fees generated from WAVES to XTN swaps.
Neutrino allows for the formation of an index supported by a group of cryptocurrencies within the Waves ecosystem. Furthermore, the Neutrino team developed Neutrino Swap, a decentralized exchange (DEX) that lets users trade cryptocurrencies in a decentralized way, eliminating the need for a central intermediary.
Alexander Ivanov, who is also referred to as Sasha Ivanov, established Neutrino. He is the same individual behind the Waves Platform, a versatile blockchain system that enables functionalities such as smart contracts and decentralized applications (DApps).
In June 2023, the circulating amount of XTN stood at 51,980,734.06, while the total supply reached 623,814,463.63 XTN.
The Neutrino Index operates on the Waves blockchain, which relies on a customized proof-of-stake mechanism known as WavesNG for its security. This underlying technology draws from Bitcoin-NG, a scaling concept developed by Emin Gün Sirer, who is a prominent Bitcoin supporter, a developer at Cornell University, and the founder and CEO of Ava Labs.
You can acquire XTN on crypto trading platforms such as WX.Network and Swop.fi.
Aleksei Pupyshev