Profile
USDN profile facts
Noble Dollar (USDN) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar.
Variant relationship
Noble Dollar (USDN) is modeled as a pure wrapper variant of M by M0 (M). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
Other coins using the USDN ticker
- SMARDEX USDN (USDN) · Active · US Dollar. USDN is SMARDEX's wstETH-backed synthetic dollar.
- Collateral
- Short-term U.S. Treasury Bills held in bankruptcy-remote SPVs via M0 Protocol; over 100% collateral coverage maintained by M0 Minters (including Superstate and MXON); collateral verified daily on-chain
- Peg mechanism
- USDN represents M0's M token locked on Ethereum through M0's Portal bridge (Wormhole NTT). Noble's dollar module tracks principal against the M0 index and mints accrued Treasury rewards for holders to claim; balances on Noble increase when rewards are claimed.
- Jurisdiction
- United States
- Proof of reserves
- Real-Time PoR by M0 Protocol (on-chain Validator attestations) Reserve source
- Contracts
- 1 deployment tracked across Noble.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
USDN quick answers
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What is Noble Dollar (USDN)?
USDN is Noble's yield-bearing representation of M0's M token, backed by short-term U.S. T-bills; Noble holders must claim rewards to increase balances. The static profile records its US Dollar peg mechanism as: USDN represents M0's M token locked on Ethereum through M0's Portal bridge (Wormhole NTT).
Is USDN safe?
As of Oct 24, 2026, Pharos grades USDN C- (52/100) on its Safety Score. Pharos's reviews record that admin controls such as a pause or an upgradeable contract exist, though no power to freeze a specific holder was found, and any holder can use its reviewed redemption route. 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 USDN?
Pharos records USDN's reserves as of Oct 22, 2026 as 100% M0 M locked on Ethereum against the Noble representation. Reserve evidence: Real-Time PoR by M0 Protocol (on-chain Validator attestations). Pharos classifies the backing as Real-World Asset Backed.
Can USDN be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, admin controls such as a global pause or an upgradeable contract are recorded, but the review found no active power to freeze or seize a specific holder's balance on material deployments.
How do you redeem USDN?
Under the route Pharos reviewed on Oct 20, 2026, any holder can redeem USDN for wM. Requests go through a redemption queue. 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.
