USDN is a pioneering synthetic U.S. dollar token developed within the SmarDex ecosystem. Unlike traditional stablecoins that often depend on centralized reserves or collateral to maintain their value, USDN employs a fully decentralized approach. Its value stability is achieved through a mathematical financial process known as a Delta-Neutral strategy. This strategy involves balancing two distinct groups of participants: - Vault Participants: These users deposit assets into the protocol’s vault to mint USDN tokens. - Long Position Traders: These traders open leveraged long positions on the underlying asset, seeking amplified exposure.