---
title: "Nest BlackOpal LiquidStone II Vault (nOPAL) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/nopal-nest/"
description: "Build-time stablecoin profile for Nest BlackOpal LiquidStone II Vault (nOPAL). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Nest BlackOpal LiquidStone II Vault (nOPAL)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Nest Credit vault token wrapping BlackOpal LiquidStone II tokenized private-credit positions plus a small liquidity buffer; NAV-accreting vault share, not a par-redeemable stablecoin. nOPAL is Nest Credit's BlackOpal LiquidStone II vault: tokenised private-credit positions plus a small {{term:treasury}}Treasury{{/term}} and stablecoin liquidity buffer. Like other Nest vaults, the token is NAV-accreting and primary access runs through Nest at vault NAV. Pharos flags nOPAL as a private-credit vault share rather than a par stablecoin; the high-risk reserve slice reflects the underlying LiquidStone II credit positions classified as {{term:rwa}}RWA{{/term}}-adjacent exposure.

## Collateral

BlackOpal LiquidStone II tokenised credit positions plus stablecoin and Treasury liquidity buffers held inside the Nest vault

## Peg Mechanism

Vault LP token whose value targets a dollar base and drifts with the BlackOpal LiquidStone II credit strategy NAV; primary mint and redemption occur through Nest at vault NAV against USDC and pUSD

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Marshall Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x119dd7daff816f29d7ee47596ae5e4bdc4299165` | 6 |
| plume | `0x119dd7daff816f29d7ee47596ae5e4bdc4299165` | 6 |
| bsc | `0x119dd7daff816f29d7ee47596ae5e4bdc4299165` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/nopal-nest.