NEAR Protocol terminates USN service

NEAR Protocol terminates USN service

user avatar

by dapp_writer005

4 years ago

Blockchain of the first level NEAR Protocol announced the stoppage of the native stablecoin USN. The team made this decision because of the risk of the same failure as it was with UST.

USN began operations in April 2022. The stablecoin was created to increase the liquidity of the NEAR ecosystem. The USN (smart contracts and reserve fund) was managed by DAO Decentral Bank.

In the spring of 2022, the risk of USN underfunding began to emerge. As a result, a gap has appeared in the provision of the asset. Also, USN is negatively affected by falling quotes. It is worth noting that since the beginning of the year, the price of the token has fallen by almost 80%. Analysts of Decentral Bank associate such indicators with changes in the market and increased attention from regulatory authorities.

The USN shutdown is accompanied by a program to protect investors. Thus, the issue of new coins will be stopped. The developers of the token encourage USN holders to convert the stablecoin.

Earlier, news came out that NEAR was adding tools to support more wallets.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other articles

Choosing Between a Photo, a Diagram, and a Micro Infographic

Choose a visual by the question it needs to answer.

user avatarme1afon

When Text Belongs on an Image

Use a short label when readers need it to connect a claim to its evidence.

user avatarme1afon

Testing Headlines When Your Audience Is Small

Use small headline tests to learn carefully, with comparable exposure, a clear metric and an honest account of uncertainty.

user avatarme1afon

How to Correct a Myth Without Making It the Headline

Make the correction visible, explain the error, and give readers a factual alternative they can use.

user avatarme1afon

Writing a Specific Promise Your Article Can Keep

A practical way to align a headline with the evidence and answers inside the article.

user avatarme1afon

How Much Should a Headline Give Away?

What headline experiments found about specificity, and a practical way to tell readers enough before they click.

user avatarme1afon

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.