Waves blockchain platform founder, Sasha Ivanov, announced plans to launch a new stablecoin as Waves-backed Neutrino Dollar (USDN) failed to secure its peg.

As per the Twitter update, Ivanov vowed that the new stablecoin would be “undepeggable.”

“It’s just it’s time to create a protocol more attuned to the current market conditions. It will be easier to stabilize usdn first and launch the new protocol after. So guys pls save your breath, waves is not going to zero lol.”