What Is Neutrino Index (XTN)?
The Neutrino index is a decentralized financial (DeFi) platform based on the Waves blockchain. The platform rebranded its index token from USDN to XTN. Neutrino has two native tokens, XTN and NSBT.
XTN is an algorithmic crypto-collateralized indexcoin backed by three Waves Ecosystem tokens: WAVES, WX and VIRES. XTN's main function is to encourage user participation in the Neutrino by rewarding those who provide liquidity to the system.
The platform’s other token, NSBT (Neutrino System Base Token), is used for governance purposes: it allows users to make decisions about the future development of the Neutrino protocol, and it ensures the stability of collateral reserves on Neutrino’s smart contract.
New NSBT tokens are issued whenever a user locks WAVES tokens on a contract, which serves as additional backing and insures the system against a deficit. Holders can stake to earn on WAVES to XTN swap fees.
What Makes Neutrino Index Unique?
Neutrino enables the creation of an index backed by a collection of cryptocurrencies in the Waves ecosystem.
Additionally, the team behind Neutrino has created a decentralized exchange (DEX) known as Neutrino Swap, which permits users to exchange cryptocurrencies in a decentralized manner, without relying on a central intermediary.
Who Are the Founders of Neutrino Index (XTN)?
Neutrino was created by Alexander Ivanov (also known as Sasha Ivanov). He is also the creator of Waves Platform, a multi-purpose blockchain platform which supports various use cases including decentralized applications (DApps) and smart contracts.
Related Pages:
Check out our deep dive into Waves.
Learn about what a decentralized exchange (DEX) is.
What are liquidity pools? Learn more with the CMC glossary.
Read more about Vires Finance — the liquidity protocol on Waves.
New to crypto? Check out CoinMarketCap's educational portal to get the latest news and insights.
How Many XTN Coins Are There in Circulation?
As of June 2023, the XTN circulating supply is 51,980,734.06. The total supply is 623,814,463.63 XTN.
How Is the Neutrino Index Network Secured?
Neutrino is on the Waves blockchain, which is secured by a modified proof-of-stake algorithm called WavesNG. The technology is based on Bitcoin-NG, a scaling proposal by well-known Bitcoin advocate, Cornell University developer and founder and CEO of Ava Labs, Emin Gün Sirer.
Where Can You Buy XTN?
XTN is available for purchase on cryptocurrency exchanges, including WX.Network and Swop.fi.
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