Reddit Posts
Algorithmic stablecoin Neutrino USD, which was just in the Top 60 just last week and once had a $1B market cap, has depegged to $0.60
Drama erupts around the Waves blockchain project and trading firm Alameda
Mentions
Well, I'm far to have all the knowledge but it looks like a circular economy. When you buy the NBST to the protocol, you buy it with Waves. But you can't sell it for Waves (unless you're on an exchange), they buy it back with USDN. I guess they had an initial Waves reserve, and they keeping it going through that circular mechanic and maybe some others. The scheme looks like: Sell Waves for NBST -> stake NSBT for gNSBT for a long period -> Buy USDN -> Swap USDN for Waves at premium (if USDN is unpeg, and so the USDN are back in the dApp) -> Sell back your Waves on exchange for profit or buy more NBST/USDN -> Story repeat
Well that's pretty much untrue. The USDN isn't tied directly by Waves, but NBST. It kinda work this way: 1. You buy NBST and stake it for a long period. The unstaking fees are very high if you unstake early ([https://app.neutrino.at/stake-nsbt](https://app.neutrino.at/stake-nsbt)). You are given gNSBT. 2. gNSBT allow you to swap a limited amount of USDN for Waves at a premium price if the USDN is below $1 (https://app.neutrino.at/swap). Eg: If 1 Waves = $10 and USDN = $0.95, you can buy Waves for $9.5 (approx) because you have gNSBT. 3. Then you sell your Waves for USDN and make 5% on the trade. You can do it on a daily basis, the amount depend of the NSBT you're staking. It's just an easy version to understand how it works. NBST stakers makes huge profits when USDN depeg. Unlike Luna, no Waves and no NBST are printed to keep the USDN price stable. If USDN fail, so yes, Waves will take a panic hit. But unlike LUNA, no WAVES will be printed to maintain the price. USDN is a separate dApp.
NSBT 50m market cap and a true gem of the waves ecosystem
Nope, that doesn’t sweep in NSBT, it does work for everything else though
Yeh I know the one, it doesn’t sweep in any of the NSBT
It should be an option in your wallet. "Convert small assets to BNB". I doubt 0.13 worth of NSBT is enough to trade pairs anyways.
Can I do anything with the annoying $0.13 of NSBT in my Binance wallet? I assume it was from an airdrop or staking reward.
Only thing green in my portfolio is Waves and NSBT lol. I just wish the others in it would follow them lol.
The only thing green on my portfolio is NSBT. Because is hidden in the charts lol. This dog is bleeding me dry lol.
NSBT with nice gains today, actually the whole Waves ecosystem is green.
so the NSBT airdrop (from WAVES) on binance was done over a week ago. i checked and they gave a very negligible amount lmfao. it's like 0.1% usd value of your WAVES holdings. so fucking funny. the one airdrop i get to experience and it's like this
Shoutout to Binance for giving me 4 dollars worth of NSBT for holding 4k worth of waves during the snapshot, I only bought for the airdrop and ended up losing like 300 dollars in the dump lmao *Warren Buffett.jpg*
Oh, NSBT airdrop has finally came on Binance, though it is a tiny amount per Wave, as I calculated here.
Still waiting on my NSBT from the Waves airdrop, I wouldn't hold your breath
I'm still waiting for my NSBT airdrop from Binance, anybody got theirs yet?
So the WAVES airdrop on Binance of NSBT tokens... I guess they'll release it when NSBT will be listed? I can't find anything online
Suggesting someone researches their investment is not gatekeeping. Also on my second point, I am discussing the decision by COSMOS for their own project, not gatekeeping. See my post on the daily, I have taken advantage of these opportunities too (so no judgement on that), I just think it is a good idea from their perspective. I was also literally letting you know about this situation with the airdrop... telling you not to sell so you actually receive it. Because I genuinely don't want to see you sell it and then also miss out on the reason you seemed to buy it in the first place. I apologise the second half of that comment (why i think it is a great idea) is not connected to your choice to invest, or a judgement, it is a comment on the projects decision - if that is the case. For reference I am waiting for the airdrop of NSBT following the waves snapshot, I do not blame you for trying to take advantage of an airdrop, I have done the same and will continue to do so, wish you the best with that too - genuinely. So I apologise if it came across as gatekeeping, it is early in the morning here - I was responding to you saying buying atom was dumb, and then explaining the potential airdrop situation
NSBT havent even posted a tweet since the 10th. Guessing there are problems they are keeping quiet which is why it's delayed.
NSBT Waves airdrop still hasn't arrived. Ditto for CMC Earn. Any news from Binance somewhere?
Nah, nothing from NSBT. Fingers crossed soon.
Ah ok, my bad - hadn't seen the update. Don't think NSBT has, but perhaps missed that too! Let me know if you get it