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As of Nov 12, 2026, Noon USN (USN) has a market cap of $38.72m across 3 chains, most of it on Ethereum ($38.76m).
Verified by DefiLlama
Verified collateral$39,402,232.48USN outstanding$38,911,283.65Collateral ratio101.26%
Private Credit (Fasanara FTAC) 63.83%Funding Rate Arbitrage Hyperliquid 25.71%CLOs 4.56%DeFi Lending – Morpho Vaults 2.34%Stablecoins 1.92%DeFi Lending – Euler Vaults 1.17%Redemption and US Treasury Bill Exposure (via Dinari USD+) 0.47%USN outstanding
15 positions · 7 walletsView verification record
Stablecoin information
USN is an over-collateralized stablecoin pegged to the US Dollar. It is a synthetic dollar which provides an yield to users by a basket of delta neutral strategies
Category:crypto-backed
Minting and Redemption
Noon enables users to deposit USDT & USDC as collateral to create USN. Stability is secured through delta-neutral hedging strategies.
Audits:
Stablecoin usage by chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0.00% | +0.47% | +1.80% | +7.64% | 38.76m | ||
| 0.00% | -0.01% | -0.01% | -0.21% | 8,247.58 | ||
| 0.00% | -0.01% | -9.68% | -11.76% | 4,670.56 |
