Nest Treasury Vault (nTBILL) stablecoin analytics
Answer First
What is Nest Treasury Vault (nTBILL)?
nTBILL is Nest's NAV-accreting Treasury vault token, routing into Janus Henderson JTRSY and Superstate USTB short-duration T-bill exposure. The static profile records its US Dollar-denominated NAV accounting mechanism as: Vault LP token whose value targets a dollar base and accretes through underlying Treasury fund NAV; primary mint and redemption occur through Nest at vault NAV against USDC and pUSD
Is nTBILL safe?
Pharos does not assess nTBILL as safe: it holds a D Safety Score grade (41/100) in the latest published rating, which flags significant structural risk. Static metadata says Nest Treasury Vault uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Nest Treasury Vault (nTBILL) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
AI summary / Updated Sep 7, 2026
nTBILL is Nest Credit's Treasury vault: a NAV-accreting share whose value tracks a curated book of Superstate USTB and Janus Henderson JTRSY positions, plus a small stablecoin liquidity buffer, with primary mint and redemption through Nest at vault NAV rather than par. Reserves are sourced live from the Nest Credit positions API, both underlying funds publish short Treasury-bill maturities with daily or market-day liquidity, and the economic-control pillar is the strongest line on the card. Pharos tracks nTBILL...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- Tokenised short-duration U.S. Treasury exposure routed by Nest into Janus Henderson JTRSY and Superstate USTB positions, plus a small stablecoin liquidity buffer
- Peg Mechanism
- Vault LP token whose value targets a dollar base and accretes through underlying Treasury fund 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.
Next Actions
Exact bot target: /subscribe dews,depeg,safety ntbill-nest
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
nTBILL quick answers
What is Nest Treasury Vault (nTBILL)?
nTBILL is Nest's NAV-accreting Treasury vault token, routing into Janus Henderson JTRSY and Superstate USTB short-duration T-bill exposure. The static profile records its US Dollar-denominated NAV accounting mechanism as: Vault LP token whose value targets a dollar base and accretes through underlying Treasury fund NAV; primary mint and redemption occur through Nest at vault NAV against USDC and pUSD
Is nTBILL safe?
Pharos does not assess nTBILL as safe: it holds a D Safety Score grade (41/100) in the latest published rating, which flags significant structural risk. Static metadata says Nest Treasury Vault uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs nTBILL?
Pharos classifies nTBILL backing as Real-World Asset Backed. Collateral, per the static profile: Tokenised short-duration U.S. Treasury exposure routed by Nest into Janus Henderson JTRSY and Superstate USTB positions, plus a small stablecoin liquidity buffer Reserve evidence: live reserve feed configured.
Can nTBILL be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for nTBILL, when applicable, appear in the dossier below.
