Noble’s USDN yield-paying stablecoin has launched, the startup announced Wednesday. The launch comes with a new “points” campaign offering users an alternative way to earn income. USDN is part of a new trend of stablecoins designed to pay holders. The token programmatically directs the income it earns from holding short-term U.S. Treasury bills to the developers, app creators, validators, wallets, and exchanges that support it, creating a new model for aligning incentives.
According to the press release, USDN holders can currently earn about 4.15% per annum. However, these incomes will be adjusted based on the collateral of the Treasury bills. The token will initially be supported in the Keplr wallet and can be purchased with credit cards through Moonpay. USDN was created using M^0’s $M protocol, a relatively new framework for launching customizable stablecoins.
Noble’s points program will center around two interconnected USDN vaults, Staking and Flexible. Depositors can lock up their USDN for up to four months in the Staking Vault, forfeiting their yield payouts in exchange for accumulating points, while the Flexible Vault offers “boosted” yield paid with that forfeited yield.
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