Noble Launches Yield-Bearing USDN Stablecoin with 4.15% Yield
Noble launched USDN, a yield-bearing stablecoin with a 4.15% yield backed by 102% overcollateralization from US Treasury bills.
Key points:
- USDN is designed for "composable yield," allowing apps to manage yield distribution.
- This model contrasts with stablecoins like Tether, which do not share underlying yields.
- Noble aims to become an original asset issuer, previously facilitating other stablecoins like USDC and USDY.
- USDN utilizes M^0, a middleware for creating custom stablecoins, promoting “stablecoin distribution as a service” (SDaaS).
- AUSD, another yield-bearing stablecoin, has a $78 million market cap across multiple chains.
- Stablecoins offering intrinsic yield are becoming essential to compete with established players like USDT and USDC.
- USDN will be available in Keplr wallet and purchasable via Kado.
- Deposit options include a Staking Vault with a lockup period and a Flexible Vault for accruing yield without forfeiture.