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Record sog_st_nuon

NUONNuon

Also recorded as Nuon, NUON, Nuon Flatcoin

Active

Lifecycle: Active
Issuance: Restricted
Reference target: US dollar with Truflation-linked rebase
Primary organization: Nuon Finance
No additional recorded relationship
Launch: 2023-02-02
Redemption: Protocol Redemption
Backing: Hybrid or mixed
Stabilization: Hybrid
Last review: 2026-06-23
Evidence: 12 source records

Reviewed assessment

Identity and current state

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

Inflation-linked stable-value asset with a 2023 Arbitrum v1 CDP launch and a substantially redesigned 2025 Base v2 protocol. Current v2 NUON is minted 1:1 from USDC and distributes Truflation-referenced yield through positive rebasing.

Name	Nuon
Symbol	NUON
Aliases	Nuon, NUON, Nuon Flatcoin
Asset class	Experimental Stabilization Asset
Lifecycle status	Active
Issuance status	Restricted
Canonical record ID	`sog_st_nuon`
Route slug	`nuon`
Record confidence	Medium
Last reviewed	2026-06-23

Name: Nuon
Symbol: NUON
Aliases: Nuon, NUON, Nuon Flatcoin
Asset class: Experimental Stabilization Asset
Lifecycle status: Active
Issuance status: Restricted
Canonical record ID: sog_st_nuon
Route slug: nuon
Record confidence: Medium
Last reviewed: 2026-06-23

Record coverage

Section	Entries
Organizations	1
Sources	12
Reserve reports	1
Reserve components	2
Model-history events	1
Regulatory notes	0
Deployments	2
Issuer-control actions	0
Open questions	2
Events	3

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: Hybrid
Primary display organization: Nuon Finance
Primary display role: Protocol operator
Relationship coverage: 1 recorded relationship

Control and relationship coverage

Display selection mode: Deterministic Policy
Current relationships: 1
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 2 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 2 not recorded
Deployment control-event references: 3
Observed issuer-control events: 0

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
Nuon Finance	Company or corporate group	Not recorded in canonical data	Unknown or not publicly resolved	Protocol operator	Primary display	Not yet recorded	Not yet recorded	Active relationship

Company or corporate group

Nuon Finance

Primary display

Functional role: Protocol operator
Relationship status: Active relationship
Regulatory character: Not recorded in canonical data
Jurisdiction: Unknown or not publicly resolved
From: Not recorded
Until: Not recorded

Mechanism

How the asset works

Primary operating facts are shown first. Classification and methodology details remain available below.

Reference target: US dollar with Truflation-linked rebase
Public backing model: Hybrid or mixed
Primary stabilization mechanism: Hybrid
Redemption / exit model: Protocol Redemption
Valuation source: Truflation CPI feed and protocol accounting
Yield / rebase profile: Rebasing · Accrual: Asset

Classification and mechanism details

Reference kind: Fiat
Comparison category: Indexed or inflation-linked target
Target value: 1
Reference methodology: NUON is minted 1:1 from USDC while positive rebasing distributes Truflation-referenced yield.
Canonical backing types: Stablecoin Collateral, Tokenized Fund, Mixed
Reserve component categories: Stablecoin Collateral, Tokenized Fund
Recorded model description: Usdc Treasury and DeFi Yield Strategies
Classification notes: Combines a 1:1 USDC mint basis with inflation-linked positive rebasing and separate strategy-risk layers.

Reserve and redemption

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

Reserve components

Stablecoin collateralStablecoin Collateral
Tokenized fund or RWA collateralTokenized Fund

Reserve profile

Disclosure status	Protocol Disclosure Available
Backing types	Stablecoin Collateral, Tokenized Fund, Mixed
Summary	Nuon documentation describes USDC deposits into a treasury and DeFi strategy allocation, with MaxCap acting as a risk-bearing layer. Complete current strategy allocation and capacity require ongoing source review.
As of	2026-06-14
Profile confidence	Medium

Disclosure status: Protocol Disclosure Available
Backing types: Stablecoin Collateral, Tokenized Fund, Mixed
Summary: Nuon documentation describes USDC deposits into a treasury and DeFi strategy allocation, with MaxCap acting as a risk-bearing layer. Complete current strategy allocation and capacity require ongoing source review.
As of: 2026-06-14
Profile confidence: Medium

Redemption profile

Current status	Restricted
Settlement asset	USDC or protocol/market exit subject to current contracts
Eligible parties	Eligible users meeting Nuon jurisdiction and interface requirements.
Retail access	Restricted Protocol Access
Institutional access	Restricted Protocol Access
Minimum amount	Protocol- and interface-dependent.
Fee	Strategy, staking, wrapping, liquidity, gas, and protocol costs may apply.
Settlement time	Base network and protocol processing apply.
Regional limits	U.S. persons are restricted., Documentation also identifies UK, China, sanctioned jurisdictions, and other prohibited locations.

Current status: Restricted
Settlement asset: USDC or protocol/market exit subject to current contracts
Eligible parties: Eligible users meeting Nuon jurisdiction and interface requirements.
Retail access: Restricted Protocol Access
Institutional access: Restricted Protocol Access
Minimum amount: Protocol- and interface-dependent.
Fee: Strategy, staking, wrapping, liquidity, gas, and protocol costs may apply.
Settlement time: Base network and protocol processing apply.
Regional limits: U.S. persons are restricted., Documentation also identifies UK, China, sanctioned jurisdictions, and other prohibited locations.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
Not yet recorded	Nuon	Protocol Treasury and Collateral Disclosure	Stablecoin Collateral, Tokenized Fund, Treasury Assets	High

Nuon

Not yet recorded

Type: Protocol Treasury and Collateral Disclosure
Assets covered: Stablecoin Collateral, Tokenized Fund, Treasury Assets
Record confidence: High

Deployments and legal context

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

Blockchain deployments

Network	Standard	Deployment type	Operational state	Contract or identifier
Base	Not yet recorded	Canonical or native issuance	Active	0x843AFb8f37f897b4F9c7967674f76e3EECFCE100
Technical, canonicality, and control fields Network record state Specific network recorded Canonical deployment type Native Recorded status Active Change or proposal state No separate change state recorded Canonicality Native deployment Canonicality record state Canonicality recorded Verification state Identifier recorded; verification not recorded Contract identity state Identifier recorded Freeze Not yet recorded Blacklist Not yet recorded Control events 2 Notes Current Nuon v2 native deployment on Base. It uses a different contract and architecture from the 2023 Arbitrum v1 deployment; holder migration is not inferred.
Arbitrum One	ERC-20	Historical or legacy deployment	Unknown or unresolved	0xfb9Fed8cB962548A11fE7F6F282949061395c7F5
Technical, canonicality, and control fields Network record state Specific network recorded Canonical deployment type Legacy Native Recorded status Unknown after review Change or proposal state No separate change state recorded Canonicality Legacy deployment Canonicality record state Canonicality recorded Verification state Identifier recorded; verification not recorded Contract identity state Identifier recorded Freeze Not yet recorded Blacklist Not yet recorded Control events 1 Notes Nuon v1 token deployed on Arbitrum. The current operational, redemption, and holder-migration status is not established by first-party transition documentation.

Network

Base

Active

Standard: Not yet recorded
Deployment type: Canonical or native issuance
Contract or identifier: 0x843AFb8f37f897b4F9c7967674f76e3EECFCE100

Technical, canonicality, and control fields

Network record state: Specific network recorded
Canonical deployment type: Native
Recorded status: Active
Change or proposal state: No separate change state recorded
Canonicality: Native deployment
Canonicality record state: Canonicality recorded
Verification state: Identifier recorded; verification not recorded
Contract identity state: Identifier recorded
Freeze: Not yet recorded
Blacklist: Not yet recorded
Control events: 2
Notes: Current Nuon v2 native deployment on Base. It uses a different contract and architecture from the 2023 Arbitrum v1 deployment; holder migration is not inferred.

Network

Arbitrum One

Unknown or unresolved

Standard: ERC-20
Deployment type: Historical or legacy deployment
Contract or identifier: 0xfb9Fed8cB962548A11fE7F6F282949061395c7F5

Technical, canonicality, and control fields

Network record state: Specific network recorded
Canonical deployment type: Legacy Native
Recorded status: Unknown after review
Change or proposal state: No separate change state recorded
Canonicality: Legacy deployment
Canonicality record state: Canonicality recorded
Verification state: Identifier recorded; verification not recorded
Contract identity state: Identifier recorded
Freeze: Not yet recorded
Blacklist: Not yet recorded
Control events: 1
Notes: Nuon v1 token deployed on Arbitrum. The current operational, redemption, and holder-migration status is not established by first-party transition documentation.

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.

12 source identities · 12 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
Nuon stablecoin overview Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon USD Mint Inflation Yield Rebase and Base Deployment	Direct archived snapshot	High
Minting Nuon Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon Usdc Mint and Positive Rebase Mechanics	Direct archived snapshot	High
Nuon token contracts Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon Base Contract and Related Token Addresses	Direct archived snapshot	High
Nuon guarded launch Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon V2 Guarded Launch and Maxcap Distribution	Direct archived snapshot	Medium
Nuon investment disclaimer Published Not yet recorded	Nuon	Legal terms or disclosure Canonical: Legal Terms	Subject-controlled source	Primary source	Nuon Jurisdiction and Eligibility Restrictions	Direct archived snapshot	High
Nuon v2 whitepaper overview Published Not yet recorded	Nuon	Technical documentation or repository Canonical: Whitepaper	Subject-controlled source	Primary source	Nuon Treasury Yield and Flatcoin Design	No archive recorded	High
MaxCap token Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon Risk Bearing Governance and Strategy Layer	Direct archived snapshot	High
Nuon Protocol Guarded Mainnet Launch - Release Note & FAQs Published 2023-02-01	Nuon	Official statement or announcement Canonical: Official Protocol Announcement	Subject-controlled source	Primary source	Launch date, V1, Arbitrum, Guarded Launch, V1 Arbitrum Guarded Mainnet Launch	Archive index or wildcard	High
NUON token on Arbitrum One Published Not yet recorded	Arbiscan	On-chain record or explorer Canonical: Onchain Explorer	Technical primary source	Primary source	V1 Contract, Arbitrum, Token Identity, V1 Arbitrum Token Contract	Archive index or wildcard	Medium
Nuon v2 is now Open Published 2025-03-03	Nuon	Official statement or announcement Canonical: Official Protocol Announcement	Subject-controlled source	Primary source	V2 Public Launch, Base, Usdc Minting, Staking, V2 Base Public Launch	Archive index or wildcard	High
Nuon v2 Whitepaper Introduction Published Not yet recorded	Nuon	Technical documentation or repository Canonical: Official Whitepaper	Subject-controlled source	Primary source	V1 Cdp Model, V2 Rebase Model, Version Transition, V1 V2 Architecture Difference	Archive index or wildcard	High
Nuon v2 Guarded Launch Opens to Truflation Community Published 2025-02-28	Nuon	Official statement or announcement Canonical: Official Protocol Announcement	Subject-controlled source	Primary source	V2 Guarded Launch, Base, Restricted Access, V2 Guarded Launch Phase	Archive index or wildcard	High

Official documentation or product page

Nuon stablecoin overview

High

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Nuon USD Mint Inflation Yield Rebase and Base Deployment
Archive: Direct archived snapshot
Reliability: High

Official documentation or product page

Minting Nuon

High

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Nuon Usdc Mint and Positive Rebase Mechanics
Archive: Direct archived snapshot
Reliability: High

Official documentation or product page

Nuon token contracts

High

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Nuon Base Contract and Related Token Addresses
Archive: Direct archived snapshot
Reliability: High

Official documentation or product page

Nuon guarded launch

Medium

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Nuon V2 Guarded Launch and Maxcap Distribution
Archive: Direct archived snapshot
Reliability: Medium

Legal terms or disclosure

Nuon investment disclaimer

High

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Nuon Jurisdiction and Eligibility Restrictions
Archive: Direct archived snapshot
Reliability: High

Technical documentation or repository

Nuon v2 whitepaper overview

High

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Nuon Treasury Yield and Flatcoin Design
Archive: No archive recorded
Reliability: High

Official documentation or product page

MaxCap token

High

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Nuon Risk Bearing Governance and Strategy Layer
Archive: Direct archived snapshot
Reliability: High

Official statement or announcement

Nuon Protocol Guarded Mainnet Launch - Release Note & FAQs

High

Publisher: Nuon
Published: 2023-02-01
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Launch date, V1, Arbitrum, Guarded Launch, V1 Arbitrum Guarded Mainnet Launch
Archive: Archive index or wildcard
Reliability: High

On-chain record or explorer

NUON token on Arbitrum One

Medium

Publisher: Arbiscan
Published: Not yet recorded
Provenance: Technical primary source
Primary or secondary: Primary source
Supported claims: V1 Contract, Arbitrum, Token Identity, V1 Arbitrum Token Contract
Archive: Archive index or wildcard
Reliability: Medium

Official statement or announcement

Nuon v2 is now Open

High

Publisher: Nuon
Published: 2025-03-03
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: V2 Public Launch, Base, Usdc Minting, Staking, V2 Base Public Launch
Archive: Archive index or wildcard
Reliability: High

Technical documentation or repository

Nuon v2 Whitepaper Introduction

High

Publisher: Nuon
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: V1 Cdp Model, V2 Rebase Model, Version Transition, V1 V2 Architecture Difference
Archive: Archive index or wildcard
Reliability: High

Official statement or announcement

Nuon v2 Guarded Launch Opens to Truflation Community

High

Publisher: Nuon
Published: 2025-02-28
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: V2 Guarded Launch, Base, Restricted Access, V2 Guarded Launch Phase
Archive: Archive index or wildcard
Reliability: 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
Version Transition and V1 Holder Treatment	Nuon v1 launched on Arbitrum in 2023 and Nuon v2 opened on Base in 2025 with a different contract and architecture. No first-party source recovered in this review establishes a token swap, holder migration, v1 redemption path, or definitive v1 shutdown date.	Unknown after review	High	2026-06-23
Treasury Strategy and Redemption	Current strategy allocations, liquidity buffers, capacity, and direct exit path are not yet independently normalized.	Unknown after review	High	2026-06-14

Version Transition and V1 Holder Treatment

Nuon v1 launched on Arbitrum in 2023 and Nuon v2 opened on Base in 2025 with a different contract and architecture. No first-party source recovered in this review establishes a token swap, holder migration, v1 redemption path, or definitive v1 shutdown date.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-23

Treasury Strategy and Redemption

Current strategy allocations, liquidity buffers, capacity, and direct exit path are not yet independently normalized.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-14

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

2025-03-03Nuon v2 opens publicly on BaseMigration

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2023-02-02	Nuon v1 launches on Arbitrum mainnet	Launch and introduction	Launch	Remained active	Not applicable
2025-02-28	Nuon v2 guarded launch opens to selected community users	Launch and introduction	Restricted V2 Launch Phase	Restricted or impaired	Not applicable
2025-03-03	Nuon v2 opens publicly on Base	Launch and introduction	Protocol V2 Public Launch	Remained active	Not applicable

Related records and corrections

Corrections and further reading

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