Sasha Ivanov, founder of the Waves blockchain and its Neutrino (USDN) algorithm Stablecoin protocol, has assumed over $530 million in bad debts from Waves lending platform Vires Finance, and promised to gradually liquidate the debt while ensuring that USDN does not de-anchor.
Ivanov’s debt was generating more than $500,000 a day in interest. A source inside Waves said that Waves is actively looking for external lenders to inject liquidity into Vires Finance and help Sasha Ivanov pay down debt.