Noble’s USDN “Noble Dollar” Today is the launch of Launches
USDN, a stablecoin that yields at a rate of 4.15 percent is currently backed by US Treasury Bills (102%).
Noble is an Cosmos chain which has been historically a facilitator of digital assets issuance. This company helped launch stablecoin assets such as Circle’s USDC. Ondo’s USDY. Hashnote’s USYC. and Monerium’s EURe across dozens chains.
Noble becomes an initial asset issuer with USDN.
Why bother with another stablecoin. USDN was designed according to the principles of “composable yield,” This allows apps that incorporate the stablecoins to control the distribution of the yield programmatically.
As part of their business model, stablecoin issuers like Tether do not share in the yield. They monetize end users or apps for themselves.
“$USDN is an evolution of stablecoin liquidity for the modular ecosystem. We believe that composable yield will be a game changer for appchains, users, developers and infrastructure providers,” Jelena Dridic, a co-founder at Noble.
USDN’s yield is based on a composable design that M0, an infrastructure layer for stablecoins provides. Its “M” Stablecoin is a building block that allows players such as Noble to create their own stablecoins with their custom branding.
Consider M0 to be a. “stablecoin distribution as a service” (SDaaS).
M0 previously launched AUSD with Agora, which is a stablecoin that offers a yield. Agora’s AUSD is similar to Noble’s USDN in that it opens revenue streams for apps, by sharing yields generated from the T-bill backing.
AUSD has a current market capitalization of $78 million dollars on Sui Avalanche Mantle Ethereum.
Stablecoins with an intrinsic yield, which can compete against the USDT and USDC stablecoins today, are likely to become a major player in future.
Coinbase announced in November that it would reward USDC holders with a current yield of 4.1%.
USDN is supported by Keplr and purchased through Kado.
It is possible to gain Noble points by staking USDN, though this comes with an up-to-four month lockup and forfeiture the yield.
USDN Depositors may also deposit in the Flexible Vault and accrue both the yield plus the interest rate. “boosted” The yield forfeited by the Staking Vault.
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