What is Noble Dollar?

$USDN. The Noble Dollar is the stablecoin leveraging M^0's canonical stablecoin building block, $M, as its foundation. Its purpose is to serve as a dollar stablecoin that programmatically directs yield to the Cosmos ecosystemю

Issuance of $USDN. Because the Noble Dollar is collateralized by $M, issuance can only happen by locking $M as collateral on Ethereum. This is done by utilizing M^0's Portal product, their custom cross-chain bridge powered by Wormhole's Native Token Transfer specification.

Distribution of Yield. The module continuously keeps track of every $USDN holders principal on Noble, based on the latest rebasing multiplier from the M^0 protocol on Ethereum. This allows users to claim their yield on demand, whenever an updated multiplier is delivered from Ethereum.

Noble is a blockchain purpose built for stablecoin and real-world asset (RWA) use and interoperability. Noble combines minimalistic, high security architecture with the cross-chain efficiencies of modular protocols like IBC.