Profile
USDN profile facts
SMARDEX USDN (USDN) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
Other coins using the USDN ticker
- Noble Dollar (USDN) · Frozen · US Dollar. USDN is Noble's yield-bearing representation of M0's M token.
- Collateral
- Synthetic dollar backed by the SMARDEX USDN vault, initially using wstETH as the underlying asset and protocol long-side mechanics to target delta-neutral exposure
- Peg mechanism
- Users mint USDN by depositing supported underlying assets into the USDN vault and redeem by burning USDN for the corresponding underlying asset value. Mint and redemption flows can be temporarily restricted by protocol imbalance and use a two-step oracle validation flow.
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Ethereum.
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 SMARDEX USDN (USDN)?
USDN is SMARDEX's wstETH-backed synthetic dollar, held near $1 by protocol long-side mechanics targeting delta-neutral exposure on a two-step oracle flow. The static profile records its US Dollar peg mechanism as: Users mint USDN by depositing supported underlying assets into the USDN vault and redeem by burning USDN for the corresponding underlying asset value.
Is USDN safe?
As of Nov 8, 2026, Pharos grades USDN C+ (60/100) on its Safety Score. Pharos's reviews record that no direct power to freeze holders was found on its material deployments, 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 Jul 15, 2026 as 100% wstETH-backed USDN vault. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Crypto-Collateralized.
Can USDN be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, no direct freeze-control path sets the verdict under the reviewed deployment-materiality scope.
How do you redeem USDN?
Under the route Pharos reviewed on May 12, 2026, any holder can redeem USDN for WSTETH. Settlement takes multiple days. The reviewed redemption fee is 0.04%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
