Neutrino Launches Multi-Collateral System with XTN Support
On March 3, Neutrino announced on Twitter that the multi-collateral system has been launched in the update of Neutrino v2.2.0. The project team has added suppo…
On March 3, Neutrino announced on Twitter that the multi-collateral system has been launched in the update of Neutrino v2.2.0. The project team has added support for XTN to multi-collateral transactions on the XTN transaction/Swap page, and has added 100 million WX tokens to the multi-collateral reserve. In addition, the Neutrino home page, SURF and NSBT pledge pages have been updated to temporarily reduce the maximum buy/sell quantity of XTN by changing parameters a and b to ensure the stability of multiple collateral at the initial stage.
Neutrino’s multi-mortgage system has been launched in the v2.2.0 version update
Interpretation of the news:
Neutrino, a decentralized stablecoin protocol, announced the launch of its multi-collateral system with the integration of XTN support on March 3. This was part of an update in the Neutrino v2.2.0 release. The project team also included 100 million WX tokens to the multi-collateral reserve. Furthermore, the Neutrino home page, SURF, and NSBT pledge pages were updated to reduce the maximum buy/sell quantity of XTN. This was in an attempt to ensure the stability of multiple collateral at the initial stage.
The multi-collateral system enables users to leverage different types of cryptocurrencies as collateral in exchange for Neutrino dollars, a stablecoin pegged to the US dollar. This latest update allows for XTN support on the multi-collateral Swap page, meaning users can now use XTN as collateral. Previously, Neutrino only supported BTC and ETH collateral.
Adding support for XTN will increase its potential use cases in the Neutrino platform, adding more value to the token. The integration of XTN into the multi-collateral system is expected to increase liquidity as more people will be able to hold XTN and use it as collateral with the Neutrino protocol.
The 100 million WX tokens added to the multi-collateral reserve would be used as collateral when users take loans, ensuring there are enough reserves to back up the stablecoin. This addition would also create more stability for the Neutrino protocol.
The update made changes to the a and b parameters to temporarily reduce the maximum buy/sell quantity of XTN. This was in an attempt to maintain stability during the initial stages of the multi-collateral system launch. The initial stages of the launch are crucial to ensuring a successful transition from the original protocol to a new one.
In conclusion, by integrating XTN support, Neutrino aims to increase the utility of the XTN token while also increasing liquidity on their platform. The inclusion of 100 million WX tokens in the multi-collateral reserve to be used as collateral is a smart move to ensure stability. The reduction of the maximum buy/sell quantity of XTN during the launch is also a proactive measure towards stability maintenance.
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