Neutrino USD · interactive mechanism simulation

Users mint/redeem USDN 1:1 against WAVES locked in neutrino.ride at an oracle price. LPoS staking rewards on that same collateral fund a headline APY, and USDN flows into the Vires Finance lending market. When the WAVES price falls, the backing ratio drops, NSBT auctions try to recapitalize — and if the reserve can't keep up, USDN depegs and Vires deposits freeze as bad debt.
control.ride oracle WAVES ≈ $4.00 USDN holders mint / redeem / stake neutrino.ride supply: 500,000 USDN WAVES reserve 125,000 WAVES · $500,000 backing ratio: 100% Vires Finance $0 USDN deposited withdrawals open NSBT auction recapitalization bonds $0 raised
USDN market price
$1.00
Backing ratio
100%
WAVES reserve value
$500,000
Vires bad debt (frozen)
$0
NSBT recapitalization raised
$0
Parameters — edit me
$4.00
15%
1.2/s
30%
Failure mode
Controls

Illustrative simulation. Reflects the researched Neutrino USD design (WAVES-collateralized mint/burn at an oracle price, LPoS staking yield drawn from the same reserve, NSBT recapitalization auctions, and USDN deposited into the Vires Finance lending market) and its April 2022 depeg dynamic, but trade sizes, timing, and dollar scale are simplified for visualization — not live onchain data. Drag the sliders, or trigger the crash, to explore how the backing ratio and peg respond. Part of The Onchain Experiment Atlas.