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Waves Platform CEO announces launch of new stablecoin

source-logo  cryptoslate.com 20 December 2022 19:00, UTC

Sasha Ivanov, the founder, and CEO of Waves Platform has announced that he will be launching a new stablecoin.

Two things:
– I will launch a new stable coin
– There's gonna be a $USDN situation resolution plan set in motion before.

— Sasha.waves (@sasha35625) December 20, 2022

Ivanov has previously taken on $500 million debt to restore the USDN peg, and he has stated that a “$USDN situation resolution plan” will be put into action in order to prevent a repeat of earlier events.

Some users have expressed concern about the potential for the new stablecoin to depeg like the USDN stablecoin did multiple times this year.

Ivanov has reassured users that this will not be the case by making a bold declaration stating:

“It will be undepeggable.”

Further, in a conversation regarding fixing USDN, Ivanov commented that “the most important thing is to make people whole eventually, let’s focus on that.” Alameda Research’s role in Waves’ struggles was also highlighted as he argued that people who are not focused on FUD “know that very well.”

The stablecoin will not be a new version of USDN with a new mechanic but an entirely new product according to the Waves CEO.