Neutrino Index Token
XTN
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
XTN (Neutrino Index Token) represents the re-branded successor to the collapsed algorithmic stablecoin USDN following an early 2023 pivot. The project exhibits near-total dormancy across all fundamental metrics. Active development has stalled with zero dated releases or maintenance activity across 2024–2026. Community engagement is negligible, with only 2,219 holders and no active governance forums. Tokenomics are impaired by an approximate 8x fully diluted valuation overhang, conflicting circulating supply figures, and a severe 98.5%+ drawdown from peak levels alongside non-existent trading volume ($37.76 over 24 hours). The team remains anonymous with no functioning DAO governance mechanisms, and third-party security audits are missing on major repositories with low independent security scores (30% on cer.live). Consequently, XTN carries severe systemic risks with no viable path to recovery.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Neutrino Index Token (XTN)
Neutrino Index Token (XTN) is the successor token that replaced the collapsed Neutrino USD (USDN) algorithmic stablecoin following an early 2023 pivot and rebrand. Originating on the Waves blockchain with additional contract deployments on Ethereum and Polygon, XTN was introduced as an index and reserve asset for the Neutrino multi-asset protocol, designed to be collateralized by Waves ecosystem tokens.
The transition to XTN occurred after USDN suffered a major depeg and protocol failure during the 2022 Waves ecosystem crisis, leading holders to absorb near-total losses upon conversion into the successor asset. The core team behind the project remains entirely undisclosed and anonymous, with no verifiable activity in decentralized governance forums or functioning DAO proposal processes, despite the presence of the Neutrino System Base Token (NSBT) governance architecture.
XTN exhibits signs of market abandonment and severe operational distress. The asset has suffered an unrecovered drawdown of over 98% from its all-time high of $2.52, trading near $0.02 with near-zero 24-hour trading volumes and constrained liquidity. Development on the protocol has stalled, showing no dated code releases or active maintenance across 2024–2026. Furthermore, the tokenomics are burdened by an estimated 8x fully diluted valuation overhang, low holder count, and an absence of published third-party security audit reports on major tracking repositories.