USN

The launch of its own stablecoin is a very important event for many projects, not an exception was the NEAR protocol, which officially launched its own algorithmic stablecoin USN from April 25, 2022. In this review, we will take a detailed look at what USN is, where and how you can buy it, how to make money on it, what are the analogues of this stablecoin, its important advantages and disadvantages compared to competitors.

Content

• 1. What is – USN? Stablecoin Review from NEAR

• 2. Where and how to buy USN stablecoin

• 3. How can I use USN
• 4. How to make money on USN (stacking)
• 5. Prospects of the USN stablecoin
• 6. Competitors and analogues of USN
• 7. Advantages and disadvantages of the USN stablecoin
• 7.1. Positive
• 7.2. Minuses
• 8. Final conclusion

What is – USN? The NEAR

USN stablecoin review is a native algorithmic stablecoin from NEAR Protocol with a "soft" peg to USD (US dollar), which is provided with USDT stablecoins and NEAR cryptocurrency. The stablecoin was created to increase the liquidity of the NEAR ecosystem.

The management of USN (smart contracts and reserve fund) is handled by DAO Decentral Bank.

When creating the USN stablecoin, all the advantages of existing "stable" coins were taken into account: UST (thanks to the on-chain arbitrage model), FRAX (reliable protection against binding) and a self-balancing reserve.

The binding of the USN stablecoin to the US dollar is provided through online arbitrage and a self-balancing reserve fund.

Where and how to buy USN stablecoin

There are several ways to buy a USN stablecoin:

• Exchange NEAR for USN in the Sender Wallet (a convenient wallet is a browser extension from the NEAR ecosystem).

• Buy USN (exchange) using stablecoins (USDT, DAI, USDC) via Ref.Finance (one of the largest DeFi exchanges in the Middle East) in the "SWAP" section.
• Buy on centralized (CEX) or decentralized (DEX) exchanges for fiat currencies or various cryptocurrencies (this method of purchase will be available soon).

How can I use USN

USN can be used for such purposes:

• To earn money in DeFi projects (first of all in the network NEAR and Aurora).

• When trading cryptocurrency on centralized exchanges (as a reliable stablecoin).

• To pay for gas costs in the network NEARBY (in the near future).

As the USN stablecoin develops and popularizes, the list of areas where it can be used will expand.

How to make money on USN (stacking)

The easiest way to make money on the USN stablecoin is farming (staking) on a decentralized exchange Link to finance:

• We connect the wallet to the exchange (Next to the wallet or the sender's Wallet).

• We buy USN through the "SWAP" section (for example, for USDT).

• Go to the "FARM" section and add USN to the staking (for example, the USDT-USN pair is selected).

• We receive passive income from stablecoin staking.

In the near future, the selection of pairs for USN staking will be expanded (on this and other DeFi exchanges).

Prospects of the USN stablecoin

The developers of the USN stablecoin are betting on the same rapid development and capitalization growth as the LUNA Foundation's TerraUSD (UST) algorithmic stablecoin, whose capitalization in April 2022 came close to $ 2.5 billion.

Due to the rapid implementation of USN in other protocols and on the largest centralized crypto exchanges, its holders can potentially earn more than 20%-30% per annum due to staking.

Competitors and analogues of USN

• TerraUSD (UST).

• Frax Finance (FRAX).

• USDB.

• USDD.

Advantages and disadvantages of the USN stablecoin

Positive

1. A promising stablecoin from NEAR Protocol.
2. Fast and cheap transactions using the NEAR Protocol infrastructure.
3. Users of NEAR wallets have access to the "mint" of USN direct in wallets.
4. High profitability from staking in various DeFi protocols (minimum APY values = 11% per annum).
5. In the near future, using USN, it will be possible to pay for gas in the NEAR network.

Minuses

1. At the time of launch, there is a small selection of sites where it can be bought and used.

Final conclusion

Due to the combination of the main advantages of the current "leaders" in the stablecoin market, the USN stablecoin may become a market leader in the coming years, which will positively affect its holders and the entire NEAR Protocol ecosystem (there is a great potential for the growth of the NEAR cryptocurrency).

Many people are looking for a "stable" coin from NEAR (USN) by request: USN, USN, stablecoin from NEAR, stablecoin from NEAR, etc.