SMARDEX WRAPPED USDN

WUSDN

USDN relies on the "USDN Protocol", a fully on-chain system based on the Ethereum blockchain. This decentralized protocol uses smart contracts to ensure the token’s stability and security, providing transparency and reliability for all users. The functioning of the USDN Protocol is based on the collaboration between two types of participants: Those who expose themselves to the USDN token to benefit from its potential yield. Traders who open leveraged long positions on the underlying asset. This interaction between the two sides forms the USDN Protocol, creating a Delta-Neutral structured product. Together, they ensure the stability of a synthetic U.S. dollar while generating attractive yields—all within a fully decentralized framework. Thus, USDN, as a yield-generating Synthetic Dollar, should not be confused with the USDN Protocol, the decentralized infrastructure that enables its stability and smooth operation. What is wrapped USDN (wUSDN)? It's an ERC-20 value-accruing token wrapper for USDN. Its balance does not change with each oracle report, but its value in USDNdoes. Internally, it represents the user's share of the total supply of USDNtokens.