Neutrino Index PriceXTN

What is Neutrino Index (XTN)?

Neutrino Index (XTN) is an algorithmic, crypto-collateralized indexcoin operating within the Waves blockchain ecosystem. Formerly known as Neutrino USD (USDN), the asset was rebranded to XTN as part of a strategic shift away from a fixed US dollar peg toward a diversified collateral model. Rather than being backed by a single asset, XTN is backed by a basket of Waves Ecosystem tokens, specifically WAVES, WX, and VIRES. Its value is influenced by the Backing Ratio (BR) rather than a fixed peg, allowing market demand to drive price discovery. Neutrino Index functions as a decentralized financial (DeFi) platform built on Waves, which is secured by a modified proof-of-stake algorithm called WavesNG, itself based on the Bitcoin-NG scaling proposal. XTN serves multiple roles, including medium of exchange, staking asset, and collateral for DeFi applications. The project launched in 2019 and is developed under the Neutrino Protocol, which retains a decentralized governance model. With a reported circulating supply of approximately 51,980,734 XTN and a total supply of 408,891,338 XTN, the asset remains in an active development phase following its rebranding from a stablecoin to a non-pegged index token.

Key Specifications & Tokenomics

• Name: Neutrino Index
• Ticker/Symbol: XTN
• Former Name: Neutrino USD (USDN)
• Blockchain/Platform: Ethereum, WAVES, BNB Chain Ecosystem, Polygon
• Token Standard: WAVES
• Consensus Mechanism: WavesNG (modified proof-of-stake based on Bitcoin-NG)
• Ethereum Contract Address: 0x674C6Ad92Fd080e4004b2312b45f796a192D27a0
• Polygon Contract Address: 0x013f9c3fac3e2759d7e90aca4f9540f75194a0d7
• Category: DeFi, Asset-backed Tokens, Index Funds, Governance
• Circulating Supply: 51,980,734 XTN
• Total Supply: 408,891,338 XTN
• Max Supply: 408,891,338 XTN
• Collateral Basket: WAVES, WX, VIRES
• Official Website: https://neutrino.at/
• Whitepaper/Docs: https://docs.neutrino.at/
• CertiK Rating: 3.4

Who created Neutrino Index?

Neutrino was created by Alexander Ivanov, also known as Sasha Ivanov, who is additionally the creator of the Waves Platform, a multi-purpose blockchain platform supporting decentralized applications and smart contracts. Alexander Ivanov is a physicist and entrepreneur with a background in decentralized technologies. The Neutrino Protocol was co-founded by Aleksei Pupyshev, an advocate of blockchain solutions, alongside contributions from the Waves team and its community. The team behind the implementation of the algorithmic stablecoin vision is Ventuary Lab, described as a group of experienced individuals. The project maintains a decentralized governance model, with the NSBT token enabling community participation in key protocol decisions.

How does Neutrino Index work?

Neutrino Index operates on the Waves blockchain and utilizes a Backing Ratio (BR) mechanism to influence the price of XTN. When the BR exceeds 115%, a portion of reserves is converted from SURF to XTN to stabilize the market. Specifically, when the BR reaches 115%, 10% of reserves are automatically converted from SURF to XTN, creating an incentive structure for SURF holders and offering arbitrage opportunities for market participants. The SURF token plays a role in recapitalization. The NSBT (Neutrino System Base Token) acts as the governance and recapitalization token within the protocol. When the BR falls below 100%, NSBT helps to recapitalize reserves, ensuring the protocol remains solvent. 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. The team behind Neutrino has also created a decentralized exchange known as Neutrino Swap, which permits users to exchange cryptocurrencies in a decentralized manner without relying on a central intermediary.

What makes Neutrino Index unique and valuable?

Neutrino Index distinguishes itself through its transition from a single-collateral stablecoin to a diversified, algorithmic indexcoin. The reliance on WAVES as a single collateral asset made the former USDN vulnerable to market fluctuations, prompting the Neutrino team and its community to propose a restructured model based on multiple collateral assets. XTN is backed by a basket of tokens from the Waves ecosystem, including WAVES, WX, and VIRES, and its value is influenced by the Backing Ratio rather than a fixed peg. This design allows for price discovery through market demand while the protocol aims to maintain an optimal BR, ensuring sufficient collateralization. The governance structure of the Neutrino Protocol was maintained through the transition, enabling community participation in decisions regarding collateral adjustments and protocol changes. The dual-token system involving XTN and NSBT creates a layered incentive structure where NSBT holders govern the protocol and help recapitalize reserves, while XTN serves as a medium of exchange and collateral asset within the DeFi ecosystem.

What is Neutrino Index used for?

XTN serves multiple functions within the Waves ecosystem and broader DeFi platforms. As a medium of exchange, it facilitates transactions, functioning as a relatively stable asset for payments and settlements. It serves as collateral for various DeFi applications, including lending, borrowing, and liquidity provision. Users can stake XTN within the protocol, receiving staking rewards based on collateral dynamics. XTN is integrated into decentralized exchanges, lending platforms, and liquidity pools, providing further utility for traders and investors. Additionally, XTN's main function is to encourage user participation in Neutrino by rewarding those who provide liquidity to the system. The governance token NSBT allows holders to vote on protocol decisions, including collateral adjustments and stability mechanisms, ensuring community-driven development of the Neutrino Protocol.

How Is the Neutrino Index ecosystem developing?

The Neutrino ecosystem is undergoing a significant transition following the rebranding from USDN to XTN, which was initiated in early 2023. The rebranding roadmap included the development of rebranding functionality in January 2023, the release of the XTN technical litepaper at the end of January, and the full rebranding of USDN to XTN by mid-February. Between February and April, a governance process was conducted to add $15 million worth of ecosystem tokens as collateral. The Neutrino Protocol includes Neutrino Swap, a decentralized exchange created by the team, and XTN is used across decentralized exchanges, lending platforms, and liquidity pools. Ecosystem tokens worth $15 million were proposed as collateral via governance. The project continues to develop its collateralized index model, with XTN no longer pegged to $1 and instead backed by a diversified basket of Waves ecosystem tokens.

How to mine Neutrino Index?

XTN is not mined through traditional proof-of-work mechanisms. Instead, it operates within the Waves blockchain, which is secured by a modified proof-of-stake algorithm called WavesNG, based on the Bitcoin-NG scaling proposal. Users can acquire XTN through participation in the Neutrino Protocol, such as by providing liquidity to the system, which is rewarded by the protocol. Staking is available, allowing users to stake XTN within the protocol and receive staking rewards based on collateral dynamics. Additionally, holders of NSBT can stake to earn on WAVES to XTN swap fees. 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. The SURF token also plays a role in recapitalization, with automatic conversions from SURF to XTN occurring when the Backing Ratio reaches 115%.

How to keep your Neutrino Index Coin safe?

Securing XTN requires adherence to established cryptocurrency safety practices. Since XTN exists on multiple blockchains, including Ethereum, Waves, and Polygon, users should ensure they use compatible wallets and verify contract addresses before conducting transactions. The Ethereum contract address is 0x674C6Ad92Fd080e4004b2312b45f796a192D27a0 and the Polygon contract address is 0x013f9c3fac3e2759d7e90aca4f9540f75194a0d7. Users should store their assets in reputable wallets that support the respective blockchain networks, keep private keys and seed phrases secure and offline, and avoid sharing sensitive information. When interacting with DeFi applications, users should verify the authenticity of platforms and smart contracts. The CertiK rating of 3.4 provides a security assessment reference. As with all crypto-assets, investing carries significant market risk, including extreme volatility and the potential loss of capital, and users are encouraged to consult professional advisors and independently assess their financial capacity.