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Record sog_st_nobleusdn

USDNNoble Dollar

Also recorded as USDN, Noble Dollar, Noble USDN

Active

Lifecycle: Active
Issuance: Protocol-based
Reference target: US dollar
Primary organization: Noble1 additional relationship
Launch: 2025-03-05
Redemption: Protocol Based
Backing: Tokenized asset-backed
Stabilization: Rebasing or repricing
Last review: 2026-06-26
Evidence: 4 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

Yield-bearing dollar stablecoin launched by Noble using M0 infrastructure and short-term U.S. Treasury-backed collateral.

Name	Noble Dollar
Symbol	USDN
Aliases	USDN, Noble Dollar, Noble USDN
Asset class	Stablecoin
Lifecycle status	Active
Issuance status	Protocol-based
Canonical record ID	`sog_st_nobleusdn`
Route slug	`noble-usdn`
Record confidence	High
Last reviewed	2026-06-26

Name: Noble Dollar
Symbol: USDN
Aliases: USDN, Noble Dollar, Noble USDN
Asset class: Stablecoin
Lifecycle status: Active
Issuance status: Protocol-based
Canonical record ID: sog_st_nobleusdn
Route slug: noble-usdn
Record confidence: High
Last reviewed: 2026-06-26

Record coverage

Section	Entries
Organizations	2
Sources	4
Reserve reports	1
Reserve components	1
Model-history events	0
Regulatory notes	0
Deployments	1
Issuer-control actions	0
Open questions	5
Events	1

Organizations and control

Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.

Governance: Protocol Governed
Primary display organization: Noble
Primary display role: Protocol operator
Display selection mode: Deterministic Policy
Current relationships: 2
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 1 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 1 not recorded
Deployment control-event references: 0
Observed issuer-control events: 0
Relationship coverage: 2 recorded relationships

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
Noble	Protocol or software system	Protocol or decentralized system	Decentralized / multi-entity	Protocol operator	Primary display	2025-03-05	Not yet recorded	Active relationship
M0 Protocol	Protocol or software system	Protocol or decentralized system	Decentralized / multi-entity	Technology provider	Additional relationship	2025-03-05	Not yet recorded	Active relationship

Protocol or software system

Noble

Primary display

Functional role: Protocol operator
Relationship status: Active relationship
Regulatory character: Protocol or decentralized system
Jurisdiction: Decentralized / multi-entity
From: 2025-03-05
Until: Not recorded

Protocol or software system

M0 Protocol

Additional relationship

Functional role: Technology provider
Relationship status: Active relationship
Regulatory character: Protocol or decentralized system
Jurisdiction: Decentralized / multi-entity
From: 2025-03-05
Until: Not recorded

Mechanism

How the asset works

Reference, backing, stabilization, exit, valuation, and yield remain separate facts.

Reference target: US dollar
Reference kind: Fiat
Comparison category: US dollar
Target value: Not yet recorded
Reference methodology: Targets one U.S. dollar through M0-backed collateral and conversion routes.
Public backing model: Tokenized asset-backed
Canonical backing types: Government Securities, Tokenized Fund
Reserve component categories: Government Securities
Primary stabilization mechanism: Rebasing or repricing
Recorded model description: M0 Backed Short Term Us Treasury Exposure
Redemption / exit model: Protocol Based
Valuation source: Public information is incomplete
Yield / rebase profile: None recorded
Classification notes: Yield-bearing Noble extension of M0 infrastructure; separate from Neutrino USD.

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

M0-backed short-term U.S. Treasury exposureGovernment Securities · Official collateral context is recorded without asserting direct holder ownership or unsupported percentages.

Reserve profile

Disclosure status	Official Protocol and Collateral Context
Backing types	Government Securities, Tokenized Fund
Summary	Official Noble documentation describes full backing through short-term U.S. Treasury-bill exposure inherited from M0's M asset.
As of	2026-06-26
Profile confidence	High

Disclosure status: Official Protocol and Collateral Context
Backing types: Government Securities, Tokenized Fund
Summary: Official Noble documentation describes full backing through short-term U.S. Treasury-bill exposure inherited from M0's M asset.
As of: 2026-06-26
Profile confidence: High

Redemption profile

Current status	Protocol Based
Settlement asset	M or Supported Stablecoin Liquidity
Eligible parties	Users and integrators of supported Noble and M0 conversion routes.
Retail access	Protocol Based Subject to Access
Institutional access	Protocol or Partner Based
Minimum amount	Protocol transaction dependent.
Fee	Protocol, bridge, integrator, and network terms apply.
Settlement time	Protocol, bridge, and liquidity dependent.
Regional limits	Network, protocol, bridge, integrator, jurisdiction, and liquidity restrictions may apply.

Current status: Protocol Based
Settlement asset: M or Supported Stablecoin Liquidity
Eligible parties: Users and integrators of supported Noble and M0 conversion routes.
Retail access: Protocol Based Subject to Access
Institutional access: Protocol or Partner Based
Minimum amount: Protocol transaction dependent.
Fee: Protocol, bridge, integrator, and network terms apply.
Settlement time: Protocol, bridge, and liquidity dependent.
Regional limits: Network, protocol, bridge, integrator, jurisdiction, and liquidity restrictions may apply.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
Not yet recorded	Noble	Official Protocol Collateral Context	Government Securities, Tokenized Fund	High

Noble

Not yet recorded

Type: Official Protocol Collateral Context
Assets covered: Government Securities, Tokenized Fund
Record confidence: High

Deployments and legal context

Network state, contract identity, legal notices, and value states remain separate.

Blockchain deployments

Network	Network record state	Standard	Public deployment category	Canonical deployment type	Operational state	Recorded status	Change or proposal state	Canonicality	Canonicality record state	Verification state	Contract identity state	Contract or identifier	Freeze	Blacklist	Control events	Notes
Noble	Specific network recorded	Cosmos SDK token	Protocol-native or protocol-supported deployment	Protocol Native Token	Active	Active	No separate change state recorded	Native deployment	Canonicality recorded	Source-linked record; identifier not recorded	Identifier not recorded	Identifier not recorded	Not yet recorded	Not yet recorded	0	Native Noble Dollar issuance; M0 Portal, Wormhole NTT, and other representations require separate deployment review.

Regulatory and official notices

Date	Title	Authority / publisher	Type	Summary
No regulatory notes have been added yet.

No regulatory notes have been added yet.

Evidence

Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.

4 source identities · 4 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
Noble Dollar, USDN, is live Published 2025-03-05	Noble	Official statement or announcement Canonical: Official Blog	Subject-controlled source	Primary source	Launch Date, Identity, Yield, M0 Relationship, Launch Identity and Income	Archive index or wildcard	High
USDN overview Published Not yet recorded	Noble	Official documentation or product page Canonical: Official Documentation	Subject-controlled source	Primary source	Backing, Income, Identity, Redemption, Backing Income and Product	Archive index or wildcard	High
USDN architecture Published Not yet recorded	Noble	Official documentation or product page Canonical: Official Documentation	Subject-controlled source	Primary source	Architecture, Deployment, Bridge, M0 Relationship, Protocol Architecture and Deployment	Archive index or wildcard	High
Noble Dollar product page Published Not yet recorded	Noble	Official documentation or product page Canonical: Official Documentation	Subject-controlled source	Primary source	Identity, Product, Access, Yield, Product and Access	Archive index or wildcard	High

Known unknowns

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
Legal Issuer Operator and Redemption Agent Map	The complete legal issuer, Noble operator, M0 infrastructure, validator, bridge, and redemption-agent role map remains unresolved.	Unknown after review	High	2026-06-26
M0 Collateral and Validator Report Linkage	The complete linkage between USDN liabilities, M0 collateral, approved Minters, validators, custody, and reporting remains incomplete.	Unknown after review	High	2026-06-26
Primary Mint and Redemption Terms	Primary conversion eligibility, settlement assets, fees, delays, emergency controls, and direct redemption rights remain incomplete.	Unknown after review	High	2026-06-26
Canonical Deployment and Bridge Inventory	Native Noble issuance, M0 Portal routes, Wormhole NTT representations, and integrator deployments are not fully normalized.	Unknown after review	Medium	2026-06-26
Base Yield Vault Points and Integrator Reward Boundaries	Native base-token rebase income, boosted vault yield, points, campaigns, and integrator incentives are not fully separated across time.	Unknown after review	Medium	2026-06-26

Legal Issuer Operator and Redemption Agent Map

The complete legal issuer, Noble operator, M0 infrastructure, validator, bridge, and redemption-agent role map remains unresolved.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-26

M0 Collateral and Validator Report Linkage

The complete linkage between USDN liabilities, M0 collateral, approved Minters, validators, custody, and reporting remains incomplete.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-26

Primary Mint and Redemption Terms

Primary conversion eligibility, settlement assets, fees, delays, emergency controls, and direct redemption rights remain incomplete.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-26

Canonical Deployment and Bridge Inventory

Native Noble issuance, M0 Portal routes, Wormhole NTT representations, and integrator deployments are not fully normalized.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-26

Base Yield Vault Points and Integrator Reward Boundaries

Native base-token rebase income, boosted vault yield, points, campaigns, and integrator incentives are not fully separated across time.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-26

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

No separate model-change event is currently recorded.

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2025-03-05	Noble Dollar launches	Launch and introduction	Launch	Remained active	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.