Trustless Finance, Trustless Wallet
We often use the terminology of “trustless” to refer to the smart contracts which run on blockchains. A trustless system means that participants involved do not need to know or trust each other or a third party for the system to function. If we can build trustless smart contracts for financial tools and products then why do we still need “banks” in our daily life cycle?
Welcome to the world of decentralized finance. Decentralized finance or DeFi for short is an umbrella term for services like lending & borrowing, insurance, staking, tokenization of assets, trading, prediction markets, stablecoins on decentralized and non-custodial infrastructure.
In decentralized finance, you can use various instruments and tools. The most common DeFi instrument is stablecoins. Stablecoins are crypto-assets whose rate is pegged to real-world assets, such as US dollar or gold.
Stablecoins are quite popular amongst investors because they usually protect investors from volatility and enabling stablecoin owners to hold crypto in the blockchain ecosystem and move funds within blockchains.
The world’s best-known stablecoin is Tether (USDT) with its more than 60 billion USD market cap. Tether is a centralized company and they claim that they have enough backing reserves of in-circulation Tether. However, its rivals like algorithmic stablecoins are gaining momentum day by day.
If we are aiming truly trustless world, then we need some stablecoins with guaranteed transparency and their backing reserves are controlled by smart contracts. A holder of an algorithmic stablecoin should monitor the stability of its exchange rate and collateral level on the blockchain.
Introducing Neutrino Protocol
“Neutrino is an algorithmic price-stable assetization protocol acting as an accessible DeFi toolkit built on Waves. It enables the creation of stablecoins pegged to specific real-world assets, such as national currencies or commodities.”
What is Neutrino USD (USDN)?
Neutrino USD (USDN) is an algorithmic stablecoin pegged to the US dollar and collateralized by the WAVES token. All operations involving USDN, such as issuance, staking, and reward payouts, are fully transparent and governed by a smart contract.
What is Decentralized Forex?
DeFo (Decentralized Forex) is an extension built on top of the Neutrino protocol that enables instant swaps between stable-price assets tied to popular national currencies, indices, or commodities. Swaps are carried out by a smart contract, which ensures reliability, transparency, and virtually unlimited liquidity at a predetermined rate. All DeFo assets leverage the underlying Waves blockchain’s consensus algorithm to enable staking and thus provide asset holders with attractive annual interest rates.
What are Neutrino stable assets?
Neutrino stable assets are digital assets that serve as an equivalent to their underlying fiat analogs. For example, EURN is pegged to the Euro in a 1 to 1 ratio. Each asset is backed by USDN. Currently, there are 9 assets, excluding USDN:
- Neutrino EUR (EURN), pegged to the Euro
- Neutrino CNY (CNYN), pegged to the Chinese yuan
- Neutrino JPY (JPYN), pegged to the Japanese yen
- Neutrino RUB (RUBN), pegged to the Russian ruble
- Neutrino UAH (UAHN), pegged to the Ukrainian hryvnia
- Neutrino NGN (NGNN), pegged to the Nigerian naira.
- Neutrino BRL (BRLN), pegged to the Brazilian real.
- Neutrino GBP (GBPN), pegged to the British pound.
- Neutrino TRY (TRYN), pegged to the Turkish lira.
A Secure Crypto Wallet for ALL
Enno Wallet is a secure crypto wallet and gateway to decentralized finance. Enno Wallet users are able to store, send, receive, stake, swap, manage and earn digital assets without a custodian service. It’s a non-custodial wallet and a gateway to a trustless and decentralized world.
Enno Wallet users are able to use the built-in decentralized forex tool for stable crypto assets and stake their assets with a 10% native APY regardless of any hype like China bans or Elon fakes.
Our website: https://www.ennowallet.com
