Today we’re thrilled to announce that Noble Dollar (USDN), a composable yield stablecoin, is officially live: dollar.noble.xyz. 

USDN is a one of a kind, customizable and composable yield stablecoin for the modular ecosystem built using the M^0 stack and leveraging Wormhole NTT for seamless, natively multichain transfers. USDN launches alongside a StableSwap application and a multi-month rewards program, allowing holders to lock their USDN to earn points or variable boosted yield. 

Since day one, Noble’s mission has been to build safe, accessible and UX-optimized stablecoin and Real World Asset (RWA) infrastructure for developers and users alike. This launch marks a huge step forward for those looking for the next step-function stablecoin product. Let’s dive into the details: 

What is USDN?

USDN is a yield bearing stablecoin designed to pass on composable yield to those who matter most, be it developers, infrastructure providers, traders, end users or other stakeholders. At its core, USDN is a stablecoin collateralized by U.S. Treasury Bills via M^0 and offering an estimated 4.31% APY to holders. 

Diving deeper, USDN introduces novel composable yield for development teams. Developers looking to scale have a variety of execution environments and interoperability standards to choose from, reflecting a range that includes EVM, SVM, Go, Ethereum DA, Celestia DA, Cosmos appchains and more. Sourcing native stablecoin liquidity is often the most important pre-requisite to bootstrap users. 

USDN is the unique market solution and will be fully programmable, giving builders full sovereignty over the underlying yield. Projects can choose to integrate USDN and fully customize the yield distribution in a programmatic and transparent fashion. Yield distribution can come in a variety of flavors: from passing yield to users or the core team, to incentivizing validators or developers, to token buy backs and so much more. USDN’s structure creates a positive-sum flywheel that just works. 

USDN Collateralization

USDN is built using M^0 infrastructure – a stablecoin building block framework. USDN’s yield is derived from short-duration U.S. treasury bills, a highly liquid and fungible category of Real-World Asset (RWA). To date, M^0 has onboarded collateral partners to the protocol including MXON and Superstate, with more to come. 

In the coming months, Noble and M^0 will be onboarding a diverse set of collateral partners that can serve as the backing for USDN issuance. These collateral partners include funds and asset managers that maintain a compliant and transparent reserve of RWAs such as treasury bills, money market funds and cash deposits. 

USDN Rewards Program

Alongside the USDN launch, we’re initiating a rewards program for USDN holders to earn variable boosted yield or points. 

The Points Vault

Users can earn 1+ points per day for every 100 USDN deposited into the points vault. The points multiplier increases the longer users keep their USDN in the vault.

Users opting to earn points will forgo USDN’s estimated base yield of 4.31% for the duration that their USDN is in the points vault. USDN can be removed from the vault at any point to immediately start earning yield again. 

Points will be finalized at the end of the program and additional points may also be rewarded to earners when major milestones are hit. 

Ready to start earning points? Head here to buy USDN and start earning! 

The Boosted Yield Vault

Users looking to increase their real yield can choose to deposit USDN to the boosted yield vault. This vault earns the estimated base 4.31% yield from U.S. Treasury Bill backing via M^0 plus any additional yield forgone from users in the points vault. Boosted yield will vary continuously based on deposits to the points vault. 

USDN can be withdrawn from the vault at any time. Any USDN in the boosted yield vault will not earn points. 

Earn boosted yield here.

Concluding Thoughts 

We’ve always been motivated by supporting the growing modular ecosystem and today marks the most significant update to Noble since inception.  

With the introduction of USDN and our first DeFi app – a StableSwap product – Noble is finally entering the world of user-facing applications. We’re doubling down on our commitment to support an ever growing ecosystem of crypto and web3 developers by creating seamless interoperability and UX “under the hood” for USDN across the entire blockchain ecosystem. 

Stay tuuned for more information by joining our Discord and following us on X.