Stablecoin issuer Noble has introduced USDN, a yield-bearing stablecoin designed to distribute earnings from short-term U.S. Treasury bonds among participants in the ecosystem.
USDN’s yield, currently estimated at 4.15% annually, will fluctuate based on the returns from the Treasury bonds backing it.
Unlike traditional stablecoins such as USDT or USDC, where profits are retained by the issuer, USDN provides revenue-sharing opportunities for developers, validators, and trading platforms.
The stablecoin is built on the M^0 protocol, a framework designed to facilitate the creation of customizable digital assets. This protocol allows developers to adapt stablecoins according to their specific requirements, enhancing flexibility within the ecosystem.
Noble’s Points Program: A New Way for Users to Earn Rewards with USDN
Alongside USDN, Noble has launched a “points” program, providing users with additional earning opportunities. The program includes two options: the “Staking Vault,” where users can lock their USDN for up to four months to earn points, and the “Flexible Vault,” which offers higher yields while forfeiting yield payments in exchange for greater point accumulation.
Initially, USDN will be supported in the Keplr Wallet and will be available for purchase through Moonpay using credit cards. The stablecoin’s structure aligns incentives among participants, differentiating it from conventional models where only issuers benefit from reserve holdings.
Noble has played a key role in the Cosmos ecosystem, serving as the platform that issues the native USDC asset. Over the past year, the company has facilitated over $6.5 billion in stablecoin transfers across blockchain applications.
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