Waves CEO Announces a New Stablecoin

Waves CEO Announces a New Stablecoin

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Jonathan
Jonathan

An editor at Coincrop


21 Dec 2022 | 2 min read
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W

aves Platform CEO, Sasha Ivanov announces launch of new stablecoin and addressed Twitter user concerns surrounding depegging.

The CEO and founder of Waves Platform, Sasha Ivanov, has declared that a new stablecoin will soon be available to the public.

Ivanov has already taken on a colossal amount of debt totaling to 500 million USDN in order to guarantee the peg, and he publicly declared that an "USDN situation resolution plan" will be launched so similar incidents won't occur again.

Although some may be apprehensive about the possibility of a new stablecoin losing its peg, like USDN did several times this year, it is important to note that steps have been taken to ensure this does not happen again.

Ivanov emphasized his commitment to the security of users by confidently declaring:

“It will be undepeggable.”

According to Sasha Ivanov, their stablecoin will not be a modified version of USDN but an entirely new product.

 


Jonathan

Jonathan

An editor at Coincrop
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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.


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