Waves Tech: a comprehensive ecosystem in the crypto industry
Waves Tech: a comprehensive ecosystem in the crypto industry
Waves Technologies (Waves Tech) is an all-encompassing ecosystem of innovative blockchain solutions and products, with a special focus on decentralized inter-chain finance – InDeFi.
Waves Tech runs three powerful blockchain protocols, Waves, Neutrino and Gravity, providing a developer-friendly infrastructure for creating cutting-edge products with substantial potential for mass adoption. The ecosystem’s native token is WAVES.
With InDeFi, Waves Tech aims to connect all existing blockchains, solve the fragmentation problem and offer unlimited opportunities to build dApps on all blockchains.
This is set to revolutionize the financial sector, bringing transparency, reliability and efficiency.
Waves is an open source blockchain protocol with a wide range of technology features and usability, designed to accelerate the adoption of DeFi applications and other dApp use cases.
Waves is dedicated to breaking technological boundaries, innovating and creating a practical framework, so that tomorrow’s open web developers can become future pioneers, using Waves as a technological springboard.
Gravity is a decentralized cross-chain and oracle network based on a truly blockchain-agnostic protocol for communication between blockchains and with the outside world, working with native token economies.
The tokenless approach creates a more inclusive and open ecosystem, while addressing future scaling and stability exploits.
Gravity powers all elements of the Waves ecosystem, specifically acting as a bi-directional portal between Waves Tech and the entire open finance space.
The Neutrino protocol is a multi-asset, price-stable algorithmic protocol with an accessible DeFi toolset built on top of Waves. It enables the creation of stable currencies linked to specific real-world assets, such as national currencies or commodities.
As a multi-purpose protocol, Neutrino enables the tokenization of assets off-chain in the real world while algorithmically maintaining the economic stability of its synthetic assets.
The protocol’s collateralization model is focused on backing reserves in WAVES, also featuring Neutrino Token (NSBT), a utility and governance token for Neutrino.
The first synthetic asset created with the Neutrino protocol was Neutrino USD (USDN). More synthetic currencies followed, including Neutrino EUR (EURN), pegged to the euro, and Neutrino CNY (CNYN), pegged to the Chinese yuan.
Neutrino USD (USDN)
Neutrino USD (USDN) is the flagship algorithmic stablecoin built on Waves’ Neutrino protocol. USDN is pegged to the US dollar and offers its holders a staking option, with an APY around 10%.
Launched in late 2019, USDN has by now become the world’s 11th biggest stablecoin by market cap and the top algorithmic stablecoin outside the Ethereum ecosystem.
Meanwhile, USDN’s total market capitalization has exceeded $100,000,000.
USDN coins are backed by WAVES, the native token of the Waves protocol. Demand for USDN triggers demand for WAVES, adding stability to the entire system. To protect USDN against volatility of the crypto space, another tool was added, Neutrino Token (NSBT).
No one, including Neutrino’s development teams, has access to the locked assets. The only way to unlock the issued USDN is to exchange WAVES for USDN via the smart contract at the current market rate through the swapWavesToNeutrino trade.
For example, to issue 1 USDN, you must put in the smart contract the amount of WAVES asset that equals 1 USD. Excluded from the total supply are the balances of the master and settlement contracts.
You can also use the smart settlement contract to exchange NSBT assets to USDN at a rate of 1: 1, when the backing ratio (BR)> = 1.
The Neutrino protocol development teams do not possess personal information about wallet owners.
Neutrino Token (NSBT)
Neutrino Token (NSBT) is the Neutrino protocol’s system and governance token, and users can buy it on the market or from the smart contract. Demand for USDN creates an incentive to buy the token and pushes the reserves value back up.
The Backing Ratio (BR) is the proportion of WAVES reserves to the total USDN supply. In a state of complete equilibrium between supply and reserves, BR is equal to 1 or 100%. If the reserves are insufficient to cover the entire supply of the stablecoin, BR falls below 1.
If BR is below 1, it’s possible to buy NSBT with a discount. New demand for NSBT helps to restore the backing reserves. Once the backing ratio has reached 100% again, users can sell their NSBT coins at the full price, making a profit.
NSBT also plays an important role as a governance token. The token is used for voting on various issues. In late 2020, for instance, the Brazilian real and the Turkish lira were chosen as the first DeFo pegs by the community, with the use of an NSBT-based voting procedure.
Established in 2017 as Waves DEX, Waves.Exchange is now a standalone product in the Waves ecosystem, a hybrid platform that allows users to transfer, exchange, issue and stake make cryptocurrency.
The platform combines the security of decentralized systems with the features and advantages of standard centralized exchanges.
Waves.Exchange offers fast and secure trading instruments, participation opportunities, low costs, an API, mobile apps and access to BTC, ETH, LTC, WAVES, USDT, XMR and many more assets, including 30k+ tokens on the Waves protocol.
This trading platform highlights a few things as advantages when choosing their specific platform:
- Secure: You maintain sole control of your assets. Funds do not leave your wallet and cannot be frozen.
- Fast: a Matcher service provides fast exchange of orders and decentralized exchange on the blockchain, without having access to user accounts.
- Easy token issuance and management: token creation costs only 1 WAVE and takes 1 minute.
- Stakeout panel: rent your WAVES and earn interest within the exchange.
- Low rates – Fixed: 003 WAVES per filled order.
- API: designed to provide an easy and efficient way to integrate Waves.Exchange into your applications.
- Desktop and mobile applications: operate anywhere, anytime.
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and are not necessarily the views of CriptomonedaseICO, and should not be attributed to CriptomonedaseICO.
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