The US-based Waves.Exchange platform, which supports the fixed-rate neutrino protocol with many assets, provides cryptocurrency traders with an opportunity to generate passive income by positioning stable currencies.

According to the Waves announcement on September 29, the Oslo Bowers expanded its ecosystem of token assets to include seven different stacked neutrinos – synthetic versions of national currencies – through the decentralized foreign exchange market, or DeFo.

Holders of the US Neutron Dollar (USDN), the Euro (EURN), Yen (JPYN), Yuan (CNYN), Ruble (RUBN), Ukrainian Hryvnia (UAHN) and Nigerian Naira (NGNN) can earn up to 15% per year. Profitability (APY) due to interest rates. Users can also earn up to 20% by providing liquidity to stable coin pools. According to Waves, there will be no withdrawal penalties.

Unlike fiat-backed coins, whose issuer must trust, neutrino stack coins are algorithmic and issued through a smart contract.

Waves isn’t the only platform offering stakes rewards this year. Coinbase launched a similar system in July for cryptocurrency traders to receive 2% APY on Dai (DAI) assets, in addition to the current 0.15% for US dollar (USDC) holders. In September, Binance announced that the Launchpool platform would allow users to earn tokens in exchange for Binance Coin (BNB) and Binance USD (BUSD), as well as a number of other coins.

In August, Cointelegraph reported that Waves gave users the opportunity to bet neutrino dollars on the Ethereum blockchain. The exchange is said to be planning to add more DeFo trading pairs, which will be voted on by the owners of Neutrino Governance Tokens (NSBT).

Waves plans to launch Gravity Hub in October. It is a blockchain-independent protocol that solves the interoperability issue between blockchains, including Bitcoin (BTC), Ethereum (ETH), Cosmos (ATOM), Solana (SOL) and Ethereum Classic (ETC). The platform will allow dApps to send requests to other dApps on another blockchain and to transfer tokens using the token ports.

Source: CoinTelegraph

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