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Record sog_st_usdn
USDN/Neutrino USD
Also recorded as USDN, Neutrino USD, Neutrino USDN, XTN, Neutrino Index
- Lifecycle
- Rebranded
- Issuance
- Terminated
- Reference target
- US dollar
- Primary organization
- Neutrino ProtocolNo additional recorded relationship
- Launch
- 2019-11-22
- Redemption
- Conversion
- Backing
- Crypto-collateralized
- Stabilization
- Hybrid
- Last review
- 2026-06-23
- Evidence
- 5 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.WAVES-backed algorithmic stablecoin from Neutrino Protocol. The archive records repeated depeg and recapitalization history and the later transition from USDN to Neutrino Index / XTN, which ended the original hard-USD stablecoin classification.
| Name | Neutrino USD |
|---|---|
| Symbol | USDN |
| Aliases | USDN, Neutrino USD, Neutrino USDN, XTN, Neutrino Index |
| Asset class | Stablecoin |
| Lifecycle status | Rebranded |
| Issuance status | Terminated |
| Canonical record ID | sog_st_usdn |
| Route slug | usdn |
| Record confidence | High |
| Last reviewed | 2026-06-23 |
- Name
- Neutrino USD
- Symbol
- USDN
- Aliases
- USDN, Neutrino USD, Neutrino USDN, XTN, Neutrino Index
- Asset class
- Stablecoin
- Lifecycle status
- Rebranded
- Issuance status
- Terminated
- Canonical record ID
sog_st_usdn- Route slug
usdn- Record confidence
- High
- Last reviewed
- 2026-06-23
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 5 |
| Reserve reports | 0 |
| Reserve components | 1 |
| Model-history events | 2 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 2 |
| Events | 2 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- Protocol Governed
- Primary display organization
- Neutrino Protocol
- Primary display role
- Protocol operator
- Display selection mode
- Deterministic Policy
- Current relationships
- 0
- Ended relationships
- 1
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| Neutrino Protocol | Protocol or software system | Protocol or decentralized system | Unknown or not publicly resolved | Protocol operator | Primary display | 2019-11-22 | 2023-01-31 | Ended relationship |
Protocol or software system
Primary displayNeutrino Protocol
- Functional role
- Protocol operator
- Relationship status
- Ended relationship
- Regulatory character
- Protocol or decentralized system
- Jurisdiction
- Unknown or not publicly resolved
- From
- 2019-11-22
- Until
- 2023-01-31
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- 1
- Reference methodology
- Targets a US dollar reference value unless the record documents a different target value.
- Public backing model
- Crypto-collateralized
- Canonical backing types
- Crypto Collateral
- Reserve component categories
- Crypto Collateral
- Primary stabilization mechanism
- Hybrid
- Recorded model description
- Waves Collateralized Algorithmic
- Redemption / exit model
- Conversion
- Valuation source
- Historical Neutrino and XTN system
- Yield / rebase profile
- No recorded change · Accrual: No recorded change
- Classification notes
- USDN later transitioned to Neutrino Index and no longer represents a hard-USD stablecoin.
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Crypto collateralCrypto Collateral
| Disclosure status | Historical Protocol Transparency |
|---|---|
| Backing types | Crypto Collateral |
| Summary | Historical USDN supply was backed through WAVES held by Neutrino smart-contract mechanics, with later recapitalization systems including NSBT and SURF. This profile is historical because USDN transitioned to XTN. |
| As of | 2026-06-14 |
| Profile confidence | Medium |
- Disclosure status
- Historical Protocol Transparency
- Backing types
- Crypto Collateral
- Summary
- Historical USDN supply was backed through WAVES held by Neutrino smart-contract mechanics, with later recapitalization systems including NSBT and SURF. This profile is historical because USDN transitioned to XTN.
- As of
- 2026-06-14
- Profile confidence
- Medium
| Current status | Terminated |
|---|---|
| Settlement asset | Historical WAVES contract mechanics or later XTN system |
| Eligible parties | Historical USDN holders were subject to Neutrino smart-contract, recapitalization, liquidity, and later XTN transition mechanics. |
| Retail access | Historical Protocol Based |
| Institutional access | Historical Protocol Based |
| Minimum amount | Protocol-parameter dependent. |
| Fee | Historical protocol spreads and transaction fees applied. |
| Settlement time | Historical protocol- and liquidity-dependent. |
| Regional limits | Waves-chain contract access, bridge representations, recapitalization mechanics, and the later XTN system must be treated separately. |
- Current status
- Terminated
- Settlement asset
- Historical WAVES contract mechanics or later XTN system
- Eligible parties
- Historical USDN holders were subject to Neutrino smart-contract, recapitalization, liquidity, and later XTN transition mechanics.
- Retail access
- Historical Protocol Based
- Institutional access
- Historical Protocol Based
- Minimum amount
- Protocol-parameter dependent.
- Fee
- Historical protocol spreads and transaction fees applied.
- Settlement time
- Historical protocol- and liquidity-dependent.
- Regional limits
- Waves-chain contract access, bridge representations, recapitalization mechanics, and the later XTN system must be treated separately.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| No reserve reports have been added yet. | ||||
No reserve reports have been added yet.
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Waves | Specific network recorded | Not yet recorded | Historical or legacy deployment | Native Historical | Inactive or historical | Historical or Rebranded | Rebrand or transition recorded | Legacy deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | Historical USDN deployment on Waves. The final token identifier and current XTN relationship remain deliberately unfilled until chain-level verification. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| Neutrino Protocol FAQ Published Not yet recorded | Neutrino Protocol | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Usdn Original Protocol and Waves Backing Design | No archive recorded | High |
| What is SURF and why is it important for the Neutrino ecosystem? Published 2022-08-08 | Neutrino Protocol | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Usdn Recapitalization and Backing Ratio Context | No archive recorded | High |
| Why XTN is not actually burned? Published 2023-07-20 | Neutrino Protocol | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Usdn Former Name Xtn Transition and Token Issuance | No archive recorded | High |
| Neutrino Protocol current XTN page Published Not yet recorded | Neutrino Protocol | Official documentation or product page Canonical: Protocol Page | Subject-controlled source | Primary source | Current Xtn Identity and Non Usdn Site Context | No archive recorded | High |
| USDN>XTN: Step One Published 2023-01-31 | Neutrino Protocol | Official statement or announcement Canonical: Official Social Statement | Subject-controlled source | Primary source | Rebrand Effective Date, Waves Update Asset Info, Hard USD Classification End, Usdn Xtn Onchain Rename Start and Stablecoin Classification End | No archive recorded | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| External Rebrand Completion | SOG uses 2023-01-31 as the on-chain USDN-to-XTN identity-change boundary, but the dates when every external exchange, wallet, and data provider completed the staged rebrand remain unresolved. | Unknown after review | High | 2026-06-23 |
| Contract and Redemption State | The present status of historical USDN contract mechanics and their relationship to XTN requires chain-level verification. | Unknown after review | High | 2026-06-14 |
External Rebrand Completion
SOG uses 2023-01-31 as the on-chain USDN-to-XTN identity-change boundary, but the dates when every external exchange, wallet, and data provider completed the staged rebrand remain unresolved.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-23
Contract and Redemption State
The present status of historical USDN contract mechanics and their relationship to XTN requires chain-level verification.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-14
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2019-11-22 | USDN token issuance on Waves | Launch and introduction | Launch | Remained active | Not applicable |
| 2023-01-31 | Neutrino begins the Waves asset rename from USDN to XTN | Migration and rebrand | Rebrand and Classification Change | Rebranded | Not recovered |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.- All stablecoinsCompare this record with the rest of the archive.
- Neutrino ProtocolUnknown or not publicly resolved
- Event registry2 connected events recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.