Neutrino
Neutrino is a Waves-blockchain DeFi protocol issuing the XTN multi-collateral algorithmic stablecoin (USD-pegged), governed by gNSBT holders who stake NSBT or SURF tokens.
- Company typePrivate
- Founded-
- Headquarters—
- Headcount—
- GTM typeB2C
- OfferingSoftware
What Neutrino does
Neutrino Protocol is a decentralized DeFi protocol built on the Waves blockchain that issues XTN, an algorithmic, crypto-backed stablecoin pegged to the US dollar. XTN is collateralized by a multi-asset reserve pool currently comprising WX (90.63% of reserves, valued at $1,235,722), VIRES (7.88%, $107,420), WAVES (1.49%, $20,317), and WIND (~0.0001%, ~$1.83), with a total reserve value of $1,364,479; the system relies on a dynamic WAVES oracle to maintain peg stability. Buying XTN replenishes the reserves with collateral tokens, while selling XTN returns a proportional basket of collateral assets, and the protocol's reserve recapitalization mechanism is mediated by NSBT (Neutrino System Base Token).
The protocol's governance and revenue-distribution architecture is centered on gNSBT, a non-transferable unit of account obtained by staking NSBT or SURF tokens. gNSBT holders receive voting power over protocol parameters, a pro-rata share of fees collected on XTN buy/sell operations, and daily Max Spend/Sell limits for XTN transactions. SURF provides an alternative staking path at a fixed 300:1 conversion to gNSBT, broadening participation. Of 2,834,678 NSBT outstanding (99.96% of max supply), 62.97% is staked; 62.70% of SURF and 12.62% of XTN supply are also staked within the protocol, indicating meaningful but Waves-ecosystem-bounded engagement.
Neutrino operates as a DAO with no corporate entity, employees, or institutional ownership; distribution is entirely decentralized via integrations with WX Network, Gate.io, Puzzle Swap, and Swop.fi. Its GTM motion is product-led and self-service: users connect wallets and interact directly with smart contracts, with documentation, a community forum, and a public GitHub repository serving as the only marketing channels. There are no disclosed revenue figures, funding rounds, or pricing tiers; protocol fees are fixed by smart-contract logic and distributed to gNSBT holders, leaving the project without traditional SaaS-style revenue capture.
Neutrino firmographics
Firmographics- Name
- Neutrino
- Website
- https://neutrino.at
- Company type
- Private
- Operating status
- Operating
- Short description
- Neutrino is a Waves-blockchain DeFi protocol issuing the XTN multi-collateral algorithmic stablecoin (USD-pegged), governed by gNSBT holders who stake NSBT or SURF tokens.
- Ownership category
- akta.pro rank
Neutrino industry classification
Industry- Product category
- Decentralized Finance (DeFi) Protocol
- NAICS
- Commodity Contracts Intermediation (52316)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading) (FSAPAEAD)
- akta.pro secondary industry
- Decentralized Exchanges (DEX) & AMMs (FSADAMAB)
Keywords
Neutrino business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Operations
Revenue model
- Protocol Fees from XTN Buy/Sell Operations: Protocol collects fees from each XTN buy/sell swap transaction, distributed to gNSBT holders proportional to their share
- Transaction Fees: 0.005 WAVES transaction fee per staking/unstaking operation plus protocol fees on XTN operations
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Self-service protocol with no pricing tiers - fees are fixed by smart contract |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels3 records
Neutrino product offering
Product offeringCore offering
Neutrino is a decentralized DeFi protocol on the Waves blockchain that issues XTN, an algorithmic stablecoin pegged to the US dollar and collateralized by a basket of Waves Ecosystem tokens (WX, WAVES, VIRES, WIND). Users interact with smart contracts to buy/sell XTN, stake NSBT or SURF tokens to receive gNSBT governance units, and participate in DAO-driven protocol decisions, with protocol fees distributed to stakers.
Product overview
Neutrino Protocol is a DeFi smart contract system built on the Waves blockchain consisting of interconnected token products. The core portfolio includes NSBT (Neutrino System Base Token) for reserve stability and recapitalization, XTN for multi-collateral token operations, gNSBT for governance and fee distribution, and SURF for alternative staking. The protocol maintains multi-collateral reserves backed by WAVES, WX, VIRES, and WIND tokens. Users interact through staking NSBT or SURF to obtain gNSBT governance shares, which enable daily buy/sell limits for XTN operations and participation in protocol governance decisions.
Differentiator
Problem solved
Functional benefit
Products and services
- XTN (Multi-collateral Stablecoin)
Quantifiable outcome
- Up to 4.79% discount on XTN purchases using WAVES
- +1 more outcomes
Companies that use Neutrino
Customer profileSegments1 record
Ideal customer profiles1 record
Neutrino technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Neutrino partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- WX NetworkcoreNSBT token listed for trading on WX Network (waves.exchange), one of the primary venues for buying NSBT tokens. WX Network provides trading pair NSBT_WAVES.
- Gate.iocoreNSBT_USDT trading pair available on Gate.io exchange, providing access to NSBT liquidity for users globally.
- Puzzle SwapminorDecentralized exchange on Waves for trading NSBT with WAVES collateral tokens.
- Swop.fiminorDEX aggregator for NSBT_WAVES trading on Waves ecosystem.
- Waves ExplorercoreNeutrino smart contract (3PC9BfRwJWWiw9AREE2B3eWzCks3CYtg4yo) is deployed on Waves blockchain and viewable on Waves Explorer. Provides blockchain infrastructure and oracle pricing (WAVES Oracle Price) for the protocol.
Scale indicators7 records
Recent moves6 records
Expansion highlights4 records
Neutrino competitors and assessment
Company assessmentDirect peers
- Beanstalk: Beanstalk issued the BEAN algorithmic stablecoin using a credit-based mechanism. It is a direct conceptual peer in the algorithmic stablecoin design space, though it has had a notable governance exploit.
- MakerDAO: MakerDAO issues DAI, the largest decentralized, crypto-collateralized stablecoin. Both Neutrino and MakerDAO operate algorithmic stablecoin protocols with multi-collateral reserves, DAO governance, and revenue-sharing mechanisms for token holders.
- Synthetix (sUSD): Synthetix issues sUSD, an algorithmic stablecoin built for synthetic assets on Ethereum. It overlaps with Neutrino as another algorithmic stablecoin provider competing for DeFi liquidity and integration.
- Frax Finance: Frax issues FRAX, an algorithmic stablecoin backed by partial collateral and partial algorithm. Like Neutrino, it uses a multi-token reserve system and DAO governance, and targets the decentralized stablecoin use case.
- Liquity: Liquity issues LUSD, an algorithmic stablecoin collateralized by ETH with a redemption mechanism. It is a direct competitor in the decentralized algorithmic stablecoin category, sharing Neutrino's code-driven, governance-light model.
- Reflexer (RAI): Reflexer issues RAI, an ETH-collateralized algorithmic stablecoin targeting a non-USD peg. Both Neutrino and RAI use algorithmic supply management mechanisms and on-chain governance for stability.
- Abracadabra (MIM): Abracadabra issues Magic Internet Money (MIM), a multi-chain algorithmic stablecoin backed by interest-bearing collateral. Both Neutrino and Abracadabra pursue algorithmic supply expansion tied to crypto collateral valuations.
Regional players
- HAI (HackenAI): HAI is an algorithmic stablecoin (built on Reflexer RAI's codebase) on the Optimism network. It is a partial peer as an algorithmic stablecoin deployed on a different chain, illustrating the architectural pattern Neutrino uses on Waves.
Emerging players
- Curve DAO: Curve is a stablecoin-specialized AMM/DEX that provides deep liquidity for stable assets including algorithmic stablecoins. It is a complementary piece of the DeFi stablecoin stack in which Neutrino operates.
- Alchemix: Alchemix issues alUSD, a self-repaying synthetic stablecoin backed by yield-bearing collateral. While its mechanism differs, it competes for the same user base seeking decentralized stablecoin yield strategies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Neutrino social profiles
Digital presenceNeutrino financial estimates
Financial estimateRevenue estimate
Valuation estimate
Neutrino leadership team
Management profileNumber of profiles
Neutrino funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Neutrino M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Neutrino
What does Neutrino do?
Neutrino is a decentralized DeFi protocol on the Waves blockchain that issues XTN, an algorithmic stablecoin pegged to the US dollar and collateralized by a basket of Waves Ecosystem tokens (WX, WAVES, VIRES, WIND). Users interact with smart contracts to buy/sell XTN, stake NSBT or SURF tokens to receive gNSBT governance units, and participate in DAO-driven protocol decisions, with protocol fees distributed to stakers.
Is Neutrino a public or private company?
Neutrino is a private company. It is classified as unknown and is currently operating.
When was Neutrino founded?
Neutrino was founded in -1.
How does Neutrino make money?
Two revenue lines are on record. Protocol Fees from XTN Buy/Sell Operations are the primary driver. The others are transaction Fees.
Who are Neutrino's main competitors?
Direct peers on record are Beanstalk, MakerDAO, Synthetix (sUSD), Frax Finance, Liquity, Reflexer (RAI) and Abracadabra (MIM). HAI (HackenAI) is listed as a regional player. Emerging players are Curve DAO and Alchemix.
Does Neutrino have an API?
No public API is recorded for Neutrino.
What industry is Neutrino in?
Neutrino's product category is Decentralized Finance (DeFi) Protocol. Its primary akta.pro industry code is FSAPAEAD, DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading), with a secondary code of FSADAMAB, Decentralized Exchanges (DEX) & AMMs. Its NAICS code is 52316 and its SIC code is 6200.