Profile
nBASIS profile facts
Nest Basis Vault (nBASIS) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
- Collateral
- Bitwise Crypto Carry Fund shares (USCC, formerly Superstate USCC), USTB Treasury-fund shares and liquid USDC/USDT/pUSD balances identified by Nest's exact positions feed. Allocation weights vary; historical static percentages are not a current portfolio observation.
- Peg mechanism
- Vault LP token whose value targets a dollar base and drifts with the basis-trade strategy NAV; primary mint and redemption occur through Nest at vault NAV against USDC and pUSD
- Jurisdiction
- Marshall Islands
- Proof of reserves
- No proof-of-reserves entry in the static profile.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
nBASIS quick answers
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What is Nest Basis Vault (nBASIS)?
nBASIS is Nest's NAV basis vault combining USTB Treasury and Bitwise Crypto Carry Fund (USCC, formerly Superstate USCC); NAV varies and is not a fixed 1:1 peg. The static profile records its US Dollar-denominated NAV accounting mechanism as: Vault LP token whose value targets a dollar base and drifts with the basis-trade strategy NAV; primary mint and redemption occur through Nest at vault NAV against USDC and pUSD.
Is nBASIS safe?
As of Nov 8, 2026, Pharos grades nBASIS C- (50/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to customers the issuer has verified. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs nBASIS?
Pharos records nBASIS's reserves as of Sep 4, 2026 as 87.7% Bitwise Crypto Carry Fund (USCC, formerly Superstate USCC), 11.7% Superstate USTB Treasury Fund, and 0.6% pUSD liquid balance. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.
Can nBASIS be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem nBASIS?
Under the route Pharos reviewed on Jul 15, 2026, customers the issuer has verified can redeem nBASIS for USDC and pUSD. Settlement takes multiple days. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.
