Neutral has announced on May 16 the release of the Neutral Platform, enabling users to deposit stablecoin assets into Neutral Dollar (NUSD). NUSD is a next-generation stablecoin to accept deposits of USDC, DAI, TUSD, and PAX.
“The launch of the Neutral Platform marks the beginning of our users journey into a better stablecoin with unprecedented levels of liquidity while presenting an asset with better stability and diversified risk. This platform will enable users to manage positions between stablecoins in a much more seamless and intuitive way,” the CTO of Neutral and Architect of Neutral Dollar Matthew Branton stated.
The Neutral Platform can now be downloaded. It will give users an overview of the NUSD basket, its value, as well as the distribution of its weighted constituent coins. Starting May 16, users can deposit constituent coins into their NUSD basket.
NUSD’s present peg of USDC, DAI, TUSD, and PAX is based on modeling by Neutral to discover the necessary combination of stablecoins to reach maximum stability. A pricing mechanism guarantees consistent weighting for all components relative to the whole basket and adjusts the basket according to price fluctuations. Based on rigorous testing, NUSD is relatively less volatile compared to other stablecoins on the market with its present basket composition.
“Our mission at Neutral is to bring superior decentralized financial products to the cryptofinance space. We are moving to solve the problem of unexpected volatility in the stablecoin space, which is an enormous trap for investors, along with the lack of liquidity in the space. This announcement brings us one step closer to this goal and is a milestone on the way to reshaping the industry,” Branton concluded.