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A stable dollar backed by stocks. Nest lets you deposit tokenized equities, mint nUSD, and earn protocol revenue through staking - all while your collateral remains on-chain and transparent.

Three ways to use nUSD

Hold

Stable dollars backed by tokenized equities and USDC.

Target peg $1.00

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Stake

Earn variable protocol revenue.

Est. APY 6.00%

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Borrow

Use your stocks as collateral.

Borrow APR 3.00%

Learn more ↗

How nUSD works

Real stocks back every nUSD

Depositing approved tokenized equities mints nUSD. That collateral remains on chain, fully visible, under the protocol's collateral and liquidation rules.

The protocol earns while they back

Borrowers pay stability fees. Protocol reserves earn base stablecoin yield once realized. That revenue flows to snUSD holders through the staking share price.

You stake, you earn

Swap USDC for nUSD, then stake into snUSD. When revenue is harvested, the snUSD redemption value grows. Cooldown is set by the staking program.

Backed by what you'd buy anyway

Tokenized equity collateral and USDC reserves, verifiable on chain.

Total TVL

$1.4M

Backed reserves across three sources

PSM USDC reserves $700K

Stocks collateral $349K

Meteora nUSD pools $355K

nUSD circulating $871K Supply minted against backing

snUSD target APR 6% Yield paid to stakers

$NEST

FDV $7.66M

Market cap $3.06M

$NEST pool TVL $1.34M

Compared to other stable dollars

	nUSD	USDC
Backed by	Tokenized US equities + USDC	US Treasuries
Yield to holder	Target APR via snUSD staking	Issuer retained
PSM exit	1:1 when idle USDC is available	1:1 with issuer
Issuer	Permissionless protocol	Circle Inc
Backing transparency	Live on chain	Monthly attestation

nUSD USDC

Backed by

Tokenized US equities + USDC US Treasuries

Yield to holder

Target APR via snUSD staking Issuer retained

PSM exit

1:1 when idle USDC is available 1:1 with issuer

Issuer

Permissionless protocol Circle Inc

Backing transparency

Live on chain Monthly attestation