Hailing from Singapore, the leading centralized cryptocurrency exchange Biki.com has announced its strategic collaboration with Neutrino. The partnership will bring two new crypto assets onboard for the Biki.com network, the Neutrino Dollar USDN, and the WAVES token. The listing of the two virtual assets is scheduled to take place on 16th June 2020, 18:00 (GMT+8).
The news about the partnership was circulated in the crypto arena through an official Twitter post by the Biki.com exchange team.
USDN, the first stablecoin issued by @neutrino_proto, seeks to solve many issues currently faced by centralized stablecoins.
Read more here👉 https://t.co/SRYBInDNY5
Exciting events to be announced soon! 🌟 pic.twitter.com/sj7PzEkmSS
— BiKi.com (@BiKiEnglish) June 12, 2020
The partnership between Biki.com and Neutrino will give the users a golden opportunity to earn USDN through various bounty and staking events. With Neutrino Dollar, the platform aims to solve the issue related to the volatility of PoS crypto assets. This attribute solves the requirement for being dependent on a centralized body in a stablecoin operational system.
Neutrino is a trusted algorithmic cryptocurrency protocol designed for the release of stablecoins and synthetic coins. USDN is a staking-based currency pegged against the U.S Dollar and supported by WAVES coin. All the core operations related to USDN including issuance, collateralization, staking, and reward disbursement are managed via smart contracts. The smart contract involvement allows the holders to be aware of the sufficiency of the collateral, thereby reducing the need for a central authority.
The stablecoin uses staking-based by design which is quite similar to the bank deposit mechanisms. However, USDN offers a higher rate of interest in comparison to traditional deposit solutions and gives the users full authority to control their assets at their convenience.
Co-author of Neutrino Protocol, Aleksei Pupyshev stated,
In the coming years, the Neutrino team is likely to roll out more advanced and innovative stablecoin projects such as GOLDN and CNYN. Also, the users will be able to enjoy a wide range of trading solutions based upon NSBTs or the Neutrino based tokens.