{"id":229947,"date":"2022-04-07T09:00:43","date_gmt":"2022-04-07T08:00:43","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=229947"},"modified":"2022-04-06T23:13:51","modified_gmt":"2022-04-06T22:13:51","slug":"why-some-people-are-saying-waves-is-a-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/","title":{"rendered":"Why some people are saying Waves is a ponzi scheme"},"content":{"rendered":"<p>Algorithmic stablecoin pegged to the US dollar, Neutrino has fallen by 15% from its peg and is now worth around 82 cents instead of a dollar.<\/p>\n<p>Neutrino (USDN) is a top ten stablecoin in the market and is backed by Waves token. But the fall in the value of <a href=\"https:\/\/cryptoslate.com\/coins\/waves\/\">WAVES<\/a> over the past week means that USDN has also suffered.<\/p>\n<p>This has led to several conspiracy theories regarding the occurrence. While many wonders if WAVES is a Ponzi project, the founder of Waves blockchain has claimed that this was an attempt by FTX-owned <a href=\"https:\/\/cryptoslate.com\/companies\/alameda-research\/\">Alameda Research<\/a> to short the WAVES Token.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">People should really look at funding rates for WAVES right now \ud83d\ude1b<\/p>\n<p>&mdash; Sam Trabucco (@AlamedaTrabucco) <a href=\"https:\/\/twitter.com\/AlamedaTrabucco\/status\/1510612424839286790?ref_src=twsrc%5Etfw\">April 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>With the falling price, <a href=\"https:\/\/cryptoslate.com\/coins\/neutrino-dollar\/\">USDN<\/a>\u2019s market cap dropped to $824.25 million from $960.25 million.<\/p>\n<p>On the other hand, the blockchain network, which has seen its native token perform admirably within the last two months as its value reached as high as $61 by March 31, has plunged to $33 as it has dropped over 20% of its value within the last 24 hours.<\/p>\n<h2>The connection between Waves and Neutrino (USDN) decline<\/h2>\n<p>The massive drop in the value of both assets has led to questions about whether the claims of the Waves team that the token is overcollateralized are true.<\/p>\n<p>Official <a href=\"https:\/\/beta.neutrino.at\/api\/explorer\/get_br\">data<\/a> claimed that the backing ratio for the Neutrino smart contract is over 2, which means that there ought to be enough funds to maintain the USDN peg against the dollar at 1:1.<\/p>\n<p>However, a few days earlier, several Twitter accounts accused Waves of manipulating its token price by using Vires.Finance lending platform.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">WAVES is the biggest ponzi in crypto<\/p>\n<p>It has recklessly engineered price spikes by borrowing USDC at 35% to buy its own token<\/p>\n<p>Continuous WAVES market cap growth is needed to keep the system stable<\/p>\n<p>WAVES will eventually crash and USDN will break with it<\/p>\n<p>You&#39;re on notice\ud83e\uddf5<\/p>\n<p>&mdash; 0xHamZ (@0xHamz) <a href=\"https:\/\/twitter.com\/0xHamz\/status\/1509581295621451779?ref_src=twsrc%5Etfw\">March 31, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A pseudonymous Twitter analyst explained how the Waves team has been able to do this for the past two months to push its price by 750%.<\/p>\n<p>He stated that Waves have been collateralizing USDN and using it to borrow <a href=\"https:\/\/cryptoslate.com\/coins\/usd-coin\/\">USDC<\/a> on Vires.Finance, after which the team uses the proceeds to buy WAVES and repeat the process.<\/p>\n<h2>So, is Waves a Ponzi?<\/h2>\n<p>While it is undeniable that there is a lot of FUD surrounding the Waves blockchain and USDN, one can\u2019t categorically state that its operation is in the mold of a Ponzi.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hey guys, let me explain why <a href=\"https:\/\/twitter.com\/search?q=%24USDN&src=ctag&ref_src=twsrc%5Etfw\">$USDN<\/a> will be absolutely fine very soon.  Read the thread\ud83e\uddf5<\/p>\n<p>&mdash; Inal Kardan \ud83d\udc2c \ud83c\udf0a (1 \u279d 2) (@ikardanoff) <a href=\"https:\/\/twitter.com\/ikardanoff\/status\/1511084622821613574?ref_src=twsrc%5Etfw\">April 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A Ponzi scheme, according to <a href=\"https:\/\/en.m.wikipedia.org\/wiki\/Ponzi_scheme\">Wikipedia<\/a>, is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.<\/p>\n<p>Presently, users have had no issues with withdrawing their funds from the blockchain, and the team <a href=\"https:\/\/forum.vires.finance\/t\/set-waves-usdn-eurn-liquidation-threshold-to-1-max-borrow-apr-for-all-assets-to-400\/128\">proposed<\/a> to temporarily reduce the liquidation threshold for Waves and USDN borrowing and limit the maximum borrow APR.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Get your popcorn ready: <a href=\"https:\/\/twitter.com\/AlamedaResearch?ref_src=twsrc%5Etfw\">@AlamedaResearch<\/a> manipulates <a href=\"https:\/\/twitter.com\/search?q=%24waves&src=ctag&ref_src=twsrc%5Etfw\">$waves<\/a> price and organizes FUD campaigns to trigger panic selling. <\/p>\n<p>I hope I caught your attention. Follow me.<\/p>\n<p>&mdash; Sasha Ivanov \ud83c\udf0a (1 \u279d 2) (@sasha35625) <a href=\"https:\/\/twitter.com\/sasha35625\/status\/1510589946926673920?ref_src=twsrc%5Etfw\">April 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This proposal has, however, been kicked against as many have labeled it to be a rug pull attempt.<\/p>\n<h2>What does this mean for other algorithmic stablecoins?<\/h2>\n<p>Stablecoins play an important role in the crypto industry as traders can use digital assets to save themselves from the wild, volatile nature of the market.<\/p>\n<p>While some popular ones have their reserves in Dollars, others, like <a href=\"https:\/\/cryptoslate.com\/coins\/terra-luna\/\">Terra<\/a>\u2019s <a href=\"https:\/\/cryptoslate.com\/coins\/terrausd\/\">UST<\/a>, are algorithmic stablecoins. This type of stablecoin maintains its peg using software and rules only \u2014presently, most of them rely on issuing and burning tokens to maintain the peg.<\/p>\n<p>Notably, Neutrino is not the first dollar-pegged algorithmic stablecoin to lose its peg. Last year, Iron Finance, which was a similar project, failed.<\/p>\n<p>This has led to questions of if the market is ready for algorithmic stablecoins.<\/p>\n<p>The reality of this might be what is currently <a href=\"https:\/\/cryptoslate.com\/terra-buys-125-million-of-bitcoin-for-its-reserve\/\">influencing<\/a> Terra to back its UST stablecoin with Bitcoin and not just LUNA.<\/p>\n<p>Thus, if LUNA\u2019s price should fall, UST is still able to maintain its value as <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a> is also being used as its reserve asset.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Algorithmic stablecoin pegged to the US dollar, Neutrino has fallen by 15% from its peg and is now worth around 82 cents instead of a dollar. Neutrino (USDN) is a top ten stablecoin in the market and is backed by Waves token. But the fall in the value of WAVES over the past week means [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":230362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,32631],"tags":[76932,77608,76937,77609,77610],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why some people are saying Waves is a ponzi scheme<\/title>\n<meta name=\"description\" content=\"Presently, there is a lot of FUD surrounding Waves blockchain and its Neutrino (USDN) stablecoin about it being a Ponzi scheme.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why some people are saying Waves is a ponzi scheme\" \/>\n<meta property=\"og:description\" content=\"Presently, there is a lot of FUD surrounding Waves blockchain and its Neutrino (USDN) stablecoin about it being a Ponzi scheme.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-07T08:00:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-06T22:13:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/04\/waves-abstract-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.\",\"worksFor\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"sameAs\":[\"https:\/\/x.com\/hardeyjumoh\",\"https:\/\/www.linkedin.com\/in\/oluwapelumi-adejumo\",\"https:\/\/muckrack.com\/oluwapelumi-adejumo\"]},\"headline\":\"Why some people are saying Waves is a ponzi scheme\",\"datePublished\":\"2022-04-07T08:00:43+00:00\",\"dateModified\":\"2022-04-07T08:00:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/\"},\"wordCount\":629,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"keywords\":[\"LUNA\",\"Ponzi scheme\",\"Terra\",\"USDN\",\"Waves\"],\"articleSection\":[\"Analysis\",\"Stablecoins\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#respond\"]}],\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/\",\"url\":\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/\",\"name\":\"Why some people are saying Waves is a ponzi scheme\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/#website\"},\"datePublished\":\"2022-04-07T08:00:43+00:00\",\"dateModified\":\"2022-04-07T08:00:43+00:00\",\"description\":\"Presently, there is a lot of FUD surrounding Waves blockchain and its Neutrino (USDN) stablecoin about it being a Ponzi scheme.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptoslate.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why some people are saying Waves is a ponzi scheme\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoslate.com\/#website\",\"url\":\"https:\/\/cryptoslate.com\/\",\"name\":\"CryptoSlate\",\"description\":\"Cryptocurrency News and Real-time Coin Data\",\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"NewsMediaOrganization\",\"@id\":\"https:\/\/cryptoslate.com\/#organization\",\"name\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"CryptoSlate\"},\"image\":{\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/cryptoslate\",\"https:\/\/www.instagram.com\/cryptoslate\",\"https:\/\/www.linkedin.com\/company\/cryptoslate\",\"https:\/\/www.youtube.com\/c\/cryptoslate\",\"https:\/\/cryptoslate.substack.com\",\"https:\/\/t.me\/cryptoslatenews\",\"https:\/\/www.crunchbase.com\/organization\/cryptoslate\",\"https:\/\/iq.wiki\/wiki\/cryptoslate\",\"https:\/\/news.google.com\/publications\/CAAqKggKIiRDQklTRlFnTWFoRUtEMk55ZVhCMGIzTnNZWFJsTG1OdmJTZ0FQAQ\",\"https:\/\/muckrack.com\/media-outlet\/cryptoslate\",\"https:\/\/www.tiktok.com\/@cryptoslatenews\"],\"publishingPrinciples\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles\",\"ownershipFundingInfo\":\"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/\",\"correctionsPolicy\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback\",\"ethicsPolicy\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles\",\"foundingDate\":\"2017-08-04\",\"founder\":[{\"@type\":\"Person\",\"name\":\"Nate Whitehill\"},{\"@type\":\"Person\",\"name\":\"Matthew Blancarte\"}],\"contactPoint\":[{\"@type\":\"ContactPoint\",\"contactType\":\"customer support\",\"url\":\"https:\/\/cryptoslate.com\/contact\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"sales\",\"url\":\"https:\/\/cryptoslate.com\/advertising\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"newsroom\",\"url\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback\",\"email\":\"tips@cryptoslate.com\",\"availableLanguage\":\"en-US\"}],\"masthead\":\"https:\/\/cryptoslate.com\/about\/#masthead\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/b333928a322ba4c082e8bb2ad0f14eb6\",\"name\":\"Oluwapelumi Adejumo\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"description\":\"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.\",\"jobTitle\":\"Reporter\",\"worksFor\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Why some people are saying Waves is a ponzi scheme","description":"Presently, there is a lot of FUD surrounding Waves blockchain and its Neutrino (USDN) stablecoin about it being a Ponzi scheme.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/","og_locale":"en_US","og_type":"article","og_title":"Why some people are saying Waves is a ponzi scheme","og_description":"Presently, there is a lot of FUD surrounding Waves blockchain and its Neutrino (USDN) stablecoin about it being a Ponzi scheme.","og_url":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/","og_site_name":"CryptoSlate","article_published_time":"2022-04-07T08:00:43+00:00","article_modified_time":"2022-04-06T22:13:51+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/04\/waves-abstract-1.jpg","type":"image\/jpeg"}],"author":"Oluwapelumi Adejumo","twitter_card":"summary_large_image","twitter_creator":"@cryptoslate","twitter_site":"@cryptoslate","twitter_misc":{"Written by":"Oluwapelumi Adejumo","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#article","isPartOf":{"@id":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/"},"author":{"@type":"Person","@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person","name":"Oluwapelumi Adejumo","url":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/"},"image":{"@type":"ImageObject","@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg","caption":"Oluwapelumi Adejumo"},"jobTitle":"Senior Reporter","description":"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.","worksFor":{"@id":"https:\/\/cryptoslate.com\/#organization"},"sameAs":["https:\/\/x.com\/hardeyjumoh","https:\/\/www.linkedin.com\/in\/oluwapelumi-adejumo","https:\/\/muckrack.com\/oluwapelumi-adejumo"]},"headline":"Why some people are saying Waves is a ponzi scheme","datePublished":"2022-04-07T08:00:43+00:00","dateModified":"2022-04-07T08:00:43+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/"},"wordCount":629,"commentCount":0,"publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"keywords":["LUNA","Ponzi scheme","Terra","USDN","Waves"],"articleSection":["Analysis","Stablecoins"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#respond"]}],"copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/cryptoslate.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/","url":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/","name":"Why some people are saying Waves is a ponzi scheme","isPartOf":{"@id":"https:\/\/cryptoslate.com\/#website"},"datePublished":"2022-04-07T08:00:43+00:00","dateModified":"2022-04-07T08:00:43+00:00","description":"Presently, there is a lot of FUD surrounding Waves blockchain and its Neutrino (USDN) stablecoin about it being a Ponzi scheme.","breadcrumb":{"@id":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cryptoslate.com\/why-some-people-are-saying-waves-is-a-ponzi-scheme\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptoslate.com\/"},{"@type":"ListItem","position":2,"name":"Why some people are saying Waves is a ponzi scheme"}]},{"@type":"WebSite","@id":"https:\/\/cryptoslate.com\/#website","url":"https:\/\/cryptoslate.com\/","name":"CryptoSlate","description":"Cryptocurrency News and Real-time Coin Data","publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"inLanguage":"en-US"},{"@type":"NewsMediaOrganization","@id":"https:\/\/cryptoslate.com\/#organization","name":"CryptoSlate","url":"https:\/\/cryptoslate.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","width":1000,"height":1000,"caption":"CryptoSlate"},"image":{"@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/cryptoslate","https:\/\/www.instagram.com\/cryptoslate","https:\/\/www.linkedin.com\/company\/cryptoslate","https:\/\/www.youtube.com\/c\/cryptoslate","https:\/\/cryptoslate.substack.com","https:\/\/t.me\/cryptoslatenews","https:\/\/www.crunchbase.com\/organization\/cryptoslate","https:\/\/iq.wiki\/wiki\/cryptoslate","https:\/\/news.google.com\/publications\/CAAqKggKIiRDQklTRlFnTWFoRUtEMk55ZVhCMGIzTnNZWFJsTG1OdmJTZ0FQAQ","https:\/\/muckrack.com\/media-outlet\/cryptoslate","https:\/\/www.tiktok.com\/@cryptoslatenews"],"publishingPrinciples":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles","ownershipFundingInfo":"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/","correctionsPolicy":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback","ethicsPolicy":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles","foundingDate":"2017-08-04","founder":[{"@type":"Person","name":"Nate Whitehill"},{"@type":"Person","name":"Matthew Blancarte"}],"contactPoint":[{"@type":"ContactPoint","contactType":"customer support","url":"https:\/\/cryptoslate.com\/contact\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"sales","url":"https:\/\/cryptoslate.com\/advertising\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"newsroom","url":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback","email":"tips@cryptoslate.com","availableLanguage":"en-US"}],"masthead":"https:\/\/cryptoslate.com\/about\/#masthead"},{"@type":"Person","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/b333928a322ba4c082e8bb2ad0f14eb6","name":"Oluwapelumi Adejumo","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg","caption":"Oluwapelumi Adejumo"},"description":"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.","jobTitle":"Reporter","worksFor":"CryptoSlate","url":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/229947"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/720"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=229947"}],"version-history":[{"count":6,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/229947\/revisions"}],"predecessor-version":[{"id":230388,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/229947\/revisions\/230388"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/230362"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=229947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=229947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=229947"},{"taxonomy":"prediction_market_topic","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/prediction_market_topic?post=229947"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=229947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}