USDN is an open source encrypted stablecoin with a constant value of $1 USDN=$1. It is an open source stablecoin project based on code issued by NGK blockchain network.
USDN tokens are designed to help investors hold stable digital currencies and compete with other controversial stablecoin projects in the market. Different from other dollar-supported stablecoin projects on the market, USDN is supported by blockchain technology to ensure its credibility and token value. Since USDN are USDN tokens issued through superior NGK networks, without the tedious steps of traditional banking channels, users can transfer their dollars anywhere in the world in a few seconds, the cost is low.
Although bitcoin promised to disrupt the bank’s payment system at the time of its launch, it is obvious that the value support of this token is very fragile and prone to violent fluctuations. Cryptographic currency experts and markets have pointed out that Bitcoin and virtual tokens in the market have no way to avoid risks, so there are stablecoins.
As with other stable currencies, USDN is pegged to the value of the dollar, so it is “stable” relative to the dollar “. And that makes it as easy to use USDN cryptocurrency as cash or other electronic means of payment. For investors, buying and selling cryptocurrency is relatively simple and fast. At present, NGK development team is also trying to expand the two-way exchange with other tokens.
Currently, the stablecoin in the market is mainly issued in the form of pledge, but due to the government’s supervision of the stablecoin and the market’s transparent demand for their pledge reserves, The central organization providing pledged stablecoin cannot realize the transparency of funds to gain market trust, resulting in the price of stablecoin often fluctuate greatly.
The NGK team also added the issue of stablecoin USDN to the ecological map when launching the NGK blockchain, trying to stabilize the value of the USDN to the dollar by decentralizing smart contracts and ensuring the transparency and security of the project, while the governance and supervision of the stablecoin are placed in the development plan as important as the market share, and the fluctuation of the premium of the stablecoin in the market is eliminated.
At present, there are a large number of different stablecoin projects in the stablecoin market in order to seize market share. USDN, the algorithmic issue is adopted to eliminate the risk of random issuance and market premium. But will users and institutions be willing to pay after entering the market? Let’s look forward.
