USDN runs on the WAVES protocol, and today its graph turned into a tsunami.
This burst of activity comes after yesterdayโs rollout of the roadmap to upgrade to Wave 2.0 by next year. Itโs an ambitious plan, with a target of locking $10B in DeFi projects across the Waves platform by September.
The first phase includes high level details about waves.exchange liquidity pools, synthetic asset protocols, and a DeFi lending protocol. They also teased an upgrade to WAVES smart contract functionality and voting using the NSBT token. If you have further questions about the roadmap, Sasha Ivanov will be hosting a voice AMA tomorrow:


Fans of the WAVES community were thrilled by the roadmap.






This roadmap may seem quite ambitious, but the team has a track record of delivering thus far. USD-N broke a $200MM market cap in dramatic fashion last Friday, passing $sUSD to become the 9th largest stablecoin per CoinGecko. Weโd noted this past weekend that all the whales were sitting in USDN, and whales didnโt get rich by swimming in the kiddie pools.
At the protocol level, the total value locked is halfway towards its third comma


We also note some of the recent frenzy may be related to crypto.com listing $WAVES yesterday.
Crypto.com made headlines Monday when it also announced a partnership with Visa to allow settlement in USDC. Where could they park this USDC? ๐ค๐ค๐ค


The Waves enterprise team has also established a headquarters in Singapore to take advantage of the crypto-friendly regulatory environment.


You can see it playing out right before your eyes: wealth and prosperity are fleeing from hostile cryptocurrency regimes toward jurisdictions that embrace it. Buy Miami, Sell New York.
For more info, check our live market data atย https://curvemarketcap.com/ย or our subscribe to our daily newsletter atย https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a Curve maximalist, holds no position across the WAVES ecosystem.