1. USD-N is a algorithmic stable coin backed by WAVES-tokens.
That is clear so far. But unfortunately, still no one could explain to me what would happen if the Waves price suddenly collapsed. Then many Waves would have to be deposited additionally. It is not clear to me from the whitepaper how such a case would be handled. Maybe I didn't get it right, but it would be interesting if someone would explain it in simple terms.