Price change (24h):
0.23%
High (24h):
$1.006
Low (24h):
$0.993701
Volume (24h):
$19.36
Market Cap:
$708.86K
All Time High:
5.25% $1.05
Oct 10, 2025
All Time Low:
5% $0.95
Feb 3, 2025
0.18 %(1Y)
$0.998763
Price change (24h):
0.23%
High (24h):
$1.006
Low (24h):
$0.993701
Volume (24h):
$19.36
Market Cap:
$708.86K
All Time High:
5.25% $1.05
Oct 10, 2025
All Time Low:
5% $0.95
Feb 3, 2025
SMARDEX USDN (USDN) is a cryptocurrency launched in 2025. It functions as a decentralized synthetic U.S. dollar token, categorized explicitly within the algorithmic and crypto-backed stablecoin verticals of the Ethereum ecosystem.
The protocol confronts a persistent structural friction in decentralized finance: the reliance on centralized collateral reserves that plague traditional stablecoins. USDN abandons the peg-mechanisms of fiat-backed instruments in favor of a fully on-chain mathematical process. This Delta-Neutral strategy deliberately neutralizes directional price exposure by balancing opposing internal market forces, generating intrinsic stability without requiring a centralized custodian to hold dollars in a bank account.
SMARDEX USDN operates on the Ethereum network. The architecture bypasses the need for an independent blockchain consensus mechanism by inheriting the security and settlement finality of Ethereum’s decentralized validator set as an ERC-20 standard token.
The contract, observable under the address `0xde17a000ba…` on Etherscan, integrates into the composable DeFi landscape through this token standard. The niche methodology substitutes over-collateralized debt positions with a dual-party game theoretic equilibrium, where the logic of the smart contract directly arbitrates value parity rather than relying on exogenous oracles for hard peg enforcement.
The SmarDex ecosystem incited the launch of USDN on January 21, 2025, marking a deliberate expansion from automated market making into synthetic asset minting. Without a publicly singularized founder persona, the project’s provenance links directly to the open-source repositories maintained by the SmarDex collective, with the technical blueprint archived in a whitepaper hosted on the organization’s GitHub repository.
The long-term objective centers on engineering a permissionless dollar-denominated unit of account that does not silently erode to counter-party risk. The ambition is not merely a price-stable digital note, but a yield-bearing primitive where stability derives from the perpetual imbalance between depositors seeking low-volatility minting and traders seeking amplified directional returns through leveraged longs.
Systematically, the token mechanics bifurcate users into Vault Participants and Long Position Traders. Vault Participants lock underlying assets into the protocol’s vault to mint new USDN supply, while traders simultaneously open leveraged long positions on those same underlying assets. The smart contract liquidates and rebalances these positions autonomously; this systematic contention absorbs volatility, keeping the redemption value anchored near $1.00.
Validators do not secure this specific token through staking, as the application layer relies on Ethereum’s base-layer security. Instead, a user mints the synthetic dollar to access a delta-neutral farming position or deploys it as a stable unit within other Ethereum-based protocols. A trader opens a leveraged long position through the interface specifically to challenge the vault, a contest which programmatically manufactures the yield distributed back to the minting participants.
SMARDEX USDN has a total supply of 1,327,807.56926387 tokens. Currently, an identical quantity of 1,327,807.56926387 tokens constitutes the circulating supply, indicating full distribution of the minted synthetic dollars. With a market capitalization of $1,329,169.29, SMARDEX USDN ranks #1,795 among all cryptocurrencies. The observed 24-hour trading volume across its six active markets stands at a modest $3,216.73.
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 13/06/2026 | $1.00 | $1.00 | $1.01 | $0.99 |
| 12/06/2026 | $0.99 | $1.00 | $1.01 | $0.98 |
| 11/06/2026 | $0.99 | $0.99 | $1.01 | $0.97 |
| 10/06/2026 | $0.99 | $0.99 | $1.00 | $0.98 |
| 09/06/2026 | $0.99 | $0.99 | $1.00 | $0.98 |
| 08/06/2026 | $0.99 | $0.99 | $1.00 | $0.98 |
| 07/06/2026 | $0.99 | $0.99 | $1.00 | $0.98 |
| 06/06/2026 | $1.00 | $1.00 | $1.00 | $0.99 |
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