Buy Neutrino Index Token (XTN)
What is Neutrino Index Token?
The Neutrino Index Token (XTN) is a decentralized financial (DeFi) platform based on the Waves blockchain. It is an algorithmic crypto-collateralized indexcoin, which is initially backed by three primary tokens within the Waves Ecosystem: WAVES, WX, and VIRES. XTN’s main function is to encourage user participation in the Neutrino ecosystem by rewarding those who provide liquidity to the system.
How does Neutrino Index Token work?
Neutrino Index Token operates on the Waves blockchain, utilizing a Proof of Stake (PoS) consensus mechanism. A specific variant, Leased Proof of Stake (LPoS), is implemented where users can lease their tokens to validators. This approach allows users to participate in the validation process without running a node themselves. Neutrino uses smart contracts to manage its index token (XTN) and the Neutrino System Base Token (NSBT) to ensure the stability of collateral reserves and facilitate governance decisions within the platform.
What are the potential use cases for Neutrino Index Token?
Neutrino Index Token (XTN) has several potential use cases, including:
- Liquidity Provision: Incentivises users to provide liquidity within the Neutrino platform, crucial for the operation of Decentralized Finance (DeFi) applications.
- Governance: The Neutrino System Base Token (NSBT) enables users to participate in governance and future development decisions of the Neutrino protocol.
- Stability Mechanism: By being backed with a basket of tokens from the Waves ecosystem, it helps maintain price stability and reduces risk.
- Arbitrage Opportunities: Offers potentials for arbitrage, especially through mechanisms like the SURF token, which when the Backing Ratio (BR) reaches certain levels allows automatic conversions.
- Market Analysis: Utilized by traders for technical analysis and prediction of price trends.
What is the history of Neutrino Index Token?
The Neutrino Index Token (XTN) was developed by the Waves team to provide a stable digital asset within the Waves ecosystem. Originally known as USDN, the token was rebranded to XTN. The project features a key milestone of establishing an algorithmic stabilization mechanism and incorporating the Neutrino System Base Token (NSBT) for governance. Over time, XTN has experienced fluctuations in its market performance and varying market capitalizations and circulating supplies, indicating its dynamic presence in the cryptocurrency market.
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Frequently Asked Questions (FAQs)
What is the current price of Neutrino Index Token (XTN)?
The Neutrino Index Token price is $0.04351493 AUD, representing a +0.01% from the day prior.
Where is the best place to buy Neutrino Index Token (XTN) in Australia?
The best place to buy Neutrino Index Token (XTN) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Neutrino Index Token (XTN) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Neutrino Index Token (XTN)?
The trading volume of Neutrino Index Token (XTN) is $4.9K AUD in the last 24hrs, representing a +0.01% from the day prior.
How can I buy Neutrino Index Token (XTN)?
Neutrino Index Token (XTN) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Neutrino Index Token (XTN)?
The current market cap of Neutrino Index Token (XTN) is $3.9M AUD.
Can I convert Neutrino Index Token (XTN) to cash?
Yes - With Coinstash you can convert your Neutrino Index Token (XTN) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Neutrino Index Token (XTN) are there?
The current circulating supply of Neutrino Index Token (XTN) is 87.5M.
Is Coinstash a safe place to buy Neutrino Index Token (XTN) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Neutrino Index Token (XTN) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.