As of today, we officially support nUSD exclusively on Nova Network, Ethereum Classic and Fantom Opera. Other platforms and protocols might opt to offer support for it outside these networks, but caution is always recommended. The general advice is to always check these platform's nUSD bridging reserves and liquidity before start using them. We do not and will not support the pegging of nUSD in any other networks besides those stated above, so be aware of the risks.
No. nUSD is soft-pegged and backed by reserves held by Nova Network Inc.'s treasury.
One nUSD will always be worth one US Dollar, and there are platforms available for redemption in fiat and/or other crypto assets. This makes price balancing by arbitrage extremely likely, and over and above that, we also have other mechanisms to ensure the price gets back to peg even on an eventual decoupling event.
We strive to keep the backing reserves' ratio at a range in between 100% ~ 500% (1:1 ~ 1:5) in USD denominated terms. To prevent insolvency and de-pegging even on an extreme market meltdown event, we try to maintain our stablecoin and fiat denominated reserves ratio at a minimum of 1:1 with the total nUSD in circulation.
You can redeem nUSD for any other stablecoin or token available on any supported networks using any decentralised exchange with enough liquidity to back up the transaction, and exchange it for fiat currency on supported platforms.