Undercollateralized USDN Stablecoin Needs Tweaking, Waves Founder Says

Ivanov was asked how Waves was different from Terra, whose UST algorithmic stablecoin and luna token crashed in May, wiping out $60 billion in market value. Neutrino’s protocol has “similar mechanics” to Terra, “but (is) different,” he said, citing restrictions on how many redemptions users can get in one day.