Profile
nTBILL profile facts
Nest Treasury Vault (nTBILL) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
- Collateral
- Tokenised short-duration U.S. Treasury exposure routed by Nest into Janus Henderson JTRSY and USTB fund positions, plus a variable 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.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
nTBILL quick answers
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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?
As of Nov 8, 2026, Pharos grades nTBILL C- (52/100) 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 nTBILL?
Pharos records nTBILL's reserves as of Aug 11, 2026 as 100% nTBILL Treasury-vault portfolio (JTRSY, USTB, and stablecoin liquidity). Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.
Can nTBILL be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem nTBILL?
Under the route Pharos reviewed on Jul 15, 2026, customers the issuer has verified can redeem nTBILL for USDC and pUSD. Settlement takes multiple days. The reviewed terms charge no percentage redemption fee. Whether a given holder qualifies is set by the route's own terms, not by this summary.
