Neutral and DDEX Collaborate to Bring Superior Digital Currencies to the Decentralized Community
San Francisco — May 17th, 2019 — Neutral, an open financial protocol, has announced the listing of its first digital currency, a stablecoin called Neutral Dollar (NUSD) on DDEX decentralized exchange. Neutral Dollar is currently collateralized by a basket of stablecoins comprising DAI, TUSD, PAX, and USDC. Users can contribute any constituent stablecoin at fair value in exchange for NUSD during an initial contribution period through the Neutral platform. The partnership will see DDEX support various trading pairs against Neutral Dollar to enable DDEX users worldwide access to an asset with diversified stablecoin exposures.
As a metastable basket, the Neutral Dollar stablecoin has been consistently illustrated to be less volatile than any alternative stablecoin in the market given its diversified risk exposure. In addition, the construction of Neutral Dollar aggregates fragmented liquidity in stablecoin markets and offers users the convenience of trustless on-chain swaps between stablecoins. Upon launch, NUSD will simultaneously be supported by leading wallets including ImToken and Bixin etc. and partnering with Nexo Earn for a pilot program to enable deposit yields up to 6.5%.
Commenting on the listing, Gordon Chen, CEO and Co-founder of Neutral, said “Neutral and DDEX share a common belief in the promise of the decentralized finance space, recognizing the potential to reimagine traditional finance through a decentralized lens. The listing of Neutral Dollar on DDEX will provide significant value to the decentralized community, offering DDEX users a financial instrument with increased stability, liquidity, and on-chain transparency.”
Tian Li, CEO and Co-founder of DDEX, said, “We are happy to welcome Neutral Dollar to the DDEX ecosystem. At DDEX, we’re on a mission to redefine decentralized exchanges by offering user friendly products and robust liquidity. Stablecoins are a natural fit for decentralized exchanges – not only are they inherently easier to exchange than ETH, but in a historically volatile crypto market the ability to have stable asset trading pairs gives users a reliable trading denomination. Neutral Dollar will help us along this path, allowing us to continue to offer a high standard of tokens to our users.”
For more information, visit https://www.neutralproject.
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