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And then my last question after that is: in what

situations are new USDN tokens minted, and when are they burned?

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In case you make Waves->USDN swap, you mint new USDN (it's unlock actually, all USDNs are already issued), in case you make USDN->Waves swap, you burn/lock USDN.

Adam-A Автор вопроса
lars
In case you make Waves->USDN swap, you mint new US...

so when you "burn" USDN, it is not really burned, but rather locked back up by the project team to be unlocked again later by another user's swap?

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