Neutral Dollar (NUSD), a Diversified Basket of Stablecoins, Announces DDEX Exchange Listing
Neutral and DDEX Collaborate to Bring Superior Digital Currencies to the Decentralized Community
Neutral, an open financial protocol, has announced the listing of its first digital currency, a stablecoin called Neutral Dollar (NUSD) on DDEX decentralized exchange. Neutral Dollar is currently collateralized by a basket of stablecoins comprising DAI, TUSD, PAX, and USDC. Users can contribute any constituent stablecoin at fair value in exchange for NUSD during an initial contribution period from May 16th through the Neutral platform. The partnership will see DDEX support various trading pairs against Neutral Dollar to enable DDEX users worldwide access to an asset with diversified stablecoin exposures.
As a metastable basket, the Neutral Dollar stablecoin has been consistently illustrated to be less volatile than any alternative stablecoin in the market given its diversified risk exposure. In addition, the construction of Neutral Dollar aggregates fragmented liquidity in stablecoin markets and offers users the convenience of trustless on-chain swaps between stablecoins. Upon launch, NUSD will simultaneously be supported by leading wallets including ImToken and Bixin, etc. and partnering with Nexo Earn for a pilot program to enable deposit yields up to 6.5%.
Commenting on the listing, Gordon Chen, CEO and Co-founder of Neutral, said “Neutral and DDEX share a common belief in the promise of the decentralized finance space, recognizing the potential to reimagine traditional finance through a decentralized lens. The listing of Neutral Dollar on DDEX will provide significant value to the decentralized community, offering DDEX users a financial instrument with increased stability, liquidity, and on-chain transparency.”
Tian Li, CEO and Co-founder of DDEX, said, “We are happy to welcome Neutral Dollar to the DDEX ecosystem. At DDEX, we’re on a mission to redefine decentralized exchanges by offering user friendly products and robust liquidity. Stablecoins are a natural fit for decentralized exchanges — not only are they inherently easier to exchange than ETH, but in a historically volatile crypto market the ability to have stable asset trading pairs gives users a reliable trading denomination. The listing of Neutral Dollar will help us along this path, allowing us to continue to offer a high standard of tokens to our users.”
For more information, visit https://www.neutralproject.com/ or follow Neutral on Medium, Twitter or Telegram.
About Neutral
Neutral, founded in 2018, is a smart contract system offering superior financial instruments to the cryptocurrency space. Leveraging proven investment concepts, Neutral builds upon existing infrastructure to facilitate growth in the cryptocurrency and blockchain industry. Neutral’s first product, Neutral Dollar (NUSD), is an aggregated basket of stablecoins, resulting in a superior digital dollar which has lower volatility, increased liquidity, and increased transparency when compared to other stablecoins on the market. Neutral’s core team comprises of experienced investors, quantitative traders, trading system developers, and is advised by Nobel Prize economists and financial industry experts. The company is backed by Sequoia Capital China and has offices in San Francisco, New York, and Beijing.
About DDEX
DDEX, a Beijing-based decentralized cryptocurrency exchange, is the first decentralized exchange built on Hydro Protocol technology, offering instant, real-time order matching with secure on-chain settlement directly from users’ wallets. The trading on DDEX occurs directly between buyers and sellers in a peer-to-peer (P2P) network via an automated process. DDEX is a leading decentralized exchange, making up 5.63% of all DEX trading transactions ever recorded by Etherscan (as of April 26th).
