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

Writing About Research Without Inventing Experience

"I tested it" and "researchers tested it" make very different claims. How to write about studies and audits without borrowing someone else's experience.

user avatarme1afon

Corrections Readers Can Actually Follow

Most online errors are fixed silently. How to write a correction that shows what was wrong, what is right and whether the conclusion changed.

user avatarme1afon

Explaining How AI Was Used in an Article

A label saying "AI was used" tells readers almost nothing. Here is what a useful disclosure contains, what research says about it, and a template you can copy.

user avatarme1afon

What Carousel Benchmarks Leave Out

Read the denominator and design before turning a format benchmark into an editorial rule.

user avatarme1afon

Building a Carousel Around One Complete Idea

Use a Bitcoin transaction to show how each card advances one explanation.

user avatarme1afon

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

Choose a visual by the question it needs to answer.

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.