---
title: "Noon USN (USN) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usn-noon/"
description: "Build-time stablecoin profile for Noon USN (USN). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-18"
---



# Noon USN (USN)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

USN is the base Noon dollar, backed 1:1 by USDT, USDC, or short-term U.S. T-bills while the protocol deploys reserves into approved yield strategies. Yield accrues through the separate sUSN product, so base USN carries reserve and redemption risk without being the yield-accruing token.

## Collateral

USN is backed 1:1 by USDT, USDC, or short-term U.S. Treasury bills, with reserve assets deployable into approved yield strategies including CLOs, private credit, DeFi lending, Pendle PTs, and tokenized T-bills.

## Peg Mechanism

Permissioned institutional mint and redeem path for USN; raw reserve returns accrue to sUSN holders rather than base USN holders.

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| British Virgin Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xda67b4284609d2d48e5d10cfac411572727dc1ed` | 18 |
| sophon | `0xc1aa99c3881b26901af70738a7c217dc32536d36` | 18 |
| zksync | `0x0469d9d1de0ee58fa1153ef00836b9bbcb84c0b6` | 18 |
| starknet | `0x01e6545cab7ba4ac866768ba5e1bd540893762286ed3fea7f9c02bfa147e135b` | 18 |

## Live Data

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