Waves announces the port of its high-interest yielding Neutrino USDN to Ethereum Network. Waves Tech is a popular decentralized blockchain platform for inter-chain DeFi supporting blockchain-based finance. Recently, it announced its launch of ERC-20 port into Ethereum to incorporate USDN and its multi-protocol staking functionality accessible in ETH’s ecosystem.
Waves has always been up for spreading its general mission of achieving inter-chain DeFi toolkits for decentralizing finance services. And, this announcement is a unique and significant step towards the same. However, this deal will be a two-way door-opening as the Ethereum community will also get access to something unachievable as Neutrino in the ETH ecosystem.
For both Waves protocol and ERC-20 counterpart, USDN will be made available with the same reward structure. The Neutrino is a price-stable multi-asset protocol running on Waves. With the porting of Neutrino into the Ethereum ecosystem, all ERC-20 USDN will be staked automatically. USDN helps to earn consistent rewards with minimal risk and efforts, that will eventually maximize the overall returns via DeFi (decentralized finance) activities.
Although it is excellent news for ETH lovers, they need to wait a bit longer to get benefits from this collaboration. The process of establishing interoperability between the Neutrino protocol and the Ethereum ecosystem will commence in August and will last around December 2020.