
$NOON: A Governance token with real returns
At Noon, we believe governance shouldn’t just be a responsibility—it should be rewarded. Protocols are complex systems that need constant tuning, and those who participate in shaping them deserve to see value in return. That’s why we’ve designed $NOON and $sNOON not just as tokens of participation, but as vessels of long-term value creation. While most governance tokens offer a say in decision-making—and, implicitly, the chance to benefit from token appreciation—we wanted to go further. At No...

How Noon Keeps Your Yield Safe: Three Layers of Insurance
At Noon, we don’t just care about returns. We care about your capital, and keeping it safe.In a world where DeFi promises high yields but can sometimes deliver high drama, we set out to make something different: a platform where your assets are secure, and your returns are safe, transparent, and reliable.Noon’s Safety Starts with Our StrategiesBefore we talk about insurance, let’s start with the foundation: our strategies. Every deployment at Noon is designed to minimize daily volatility whil...

Noon’s Reward Programme
Optimize your points for this first season, ending at TGE.Noon’s governance token ($NOON) is set to launch in Q2 2025 with our Token Generation Event (TGE). However, to recognise and reward our early supporters for their engagement, we’re introducing a rewards program ahead of the TGE. Below is a summary of the points program. Users will soon be able to find detailed information—such as specific multipliers for partner protocols and related activities—in the Rewards section of the Noon dApp.O...
<100 subscribers

$NOON: A Governance token with real returns
At Noon, we believe governance shouldn’t just be a responsibility—it should be rewarded. Protocols are complex systems that need constant tuning, and those who participate in shaping them deserve to see value in return. That’s why we’ve designed $NOON and $sNOON not just as tokens of participation, but as vessels of long-term value creation. While most governance tokens offer a say in decision-making—and, implicitly, the chance to benefit from token appreciation—we wanted to go further. At No...

How Noon Keeps Your Yield Safe: Three Layers of Insurance
At Noon, we don’t just care about returns. We care about your capital, and keeping it safe.In a world where DeFi promises high yields but can sometimes deliver high drama, we set out to make something different: a platform where your assets are secure, and your returns are safe, transparent, and reliable.Noon’s Safety Starts with Our StrategiesBefore we talk about insurance, let’s start with the foundation: our strategies. Every deployment at Noon is designed to minimize daily volatility whil...

Noon’s Reward Programme
Optimize your points for this first season, ending at TGE.Noon’s governance token ($NOON) is set to launch in Q2 2025 with our Token Generation Event (TGE). However, to recognise and reward our early supporters for their engagement, we’re introducing a rewards program ahead of the TGE. Below is a summary of the points program. Users will soon be able to find detailed information—such as specific multipliers for partner protocols and related activities—in the Rewards section of the Noon dApp.O...
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Over the past two weeks, the stablecoin space has seen some controversy.
According to recent reports, the TVL of some prominent stablecoin protocols appear to have been artificially inflated through recursive lending between themselves, a cycle where each protocol lends to the other using their own tokens as collateral.
On the surface, that can make numbers look impressive.
Underneath, it creates fragile, circular exposure, the very kind of hidden leverage that has caused collapses before.
This is not the first time the stablecoin space has seen issues surrounding safety and transparency, and unfortunately, it is unlikely to be the last.
For years, we’ve been told to trust stablecoins, to believe the collateral’s there, the peg will hold, and the risk is managed. But risks like those brought up this week still lurk beneath the surface. And crypto deserves better than blind faith.
Every dollar, every contract, and every strategy is visible, verifiable, and community-governed. Here are seven ways Noon is building the safest, most transparent stablecoin ever made. Which happens to be leading the market when it comes to safe, scalable yields.
Built to last, and built for everyone.
In traditional finance (and even in DeFi sometimes) transparency is often a promise, not a practice.
Many stablecoins only publish attestations every few weeks or months, signed by private auditors and stored as PDFs that few ever read. At most, we see stablecoins self-reporting proofs of reserve, or getting attestations from third parties based on self-reported data.
In between those updates, users are left relying on one thing: blind trust.
Noon was built to eliminate that gap.
Most stablecoins rely on self-reported data, whether directly from their own team, or indirectly through an auditor who receives that data from the project itself. That means the numbers you see are only as trustworthy as the sources that provide them.
Noon’s system works differently, we can’t even edit or influence the data (even if we wanted to).
Our transparency infrastructure partner, Accountable Capital, pulls live data directly from Noon’s custodians and on-chain wallets, bypassing Noon’s internal reporting systems entirely.
In other words data comes straight from the source.
That makes manipulation or selective disclosure technically impossible.
Then, Accountable takes this data and publishes it online for all to review. You can literally see Noon’s collateral in real time deposits, withdrawals, and reserves independently tracked and verified at: 👉 noon.accountable.capital
This means that Noon holders never have to wonder if their stablecoin is backed.
Every $USN in circulation is backed 1:1 by real, liquid collateral.
That means for every single USN, there is at least 1 USD of real assets held by Noon. This is always redeemable, through a proprietary liquidity management system that ensures our ability to cover 100% redemptions in T+1.
This 1:1 structure is the foundation of Noon’s design.
Anyone, at any time, can confirm that the total collateral value in Noon’s wallets matches or slightly exceeds the amount of $USN in circulation.
Noon can afford to be 100 % transparent because there’s nothing to hide.
USN is fully backed by real, yield-generating assets that exist independently of the protocol. Noon’s reserves don’t depend on flimsy tokenomics, synthetic liquidity, or algorithmically-generated value. They’re built with real assets that actually earn, move, and mature like:
Real-World Assets: We hold either legal rights or tokenised versions of real-world assets which generate yield
DeFi Assets: We hold (insured) tokenised positions in blue chip DeFi protocols, which generate yield
CeFi Assets: We hold (off-exchange) delta-neutral positions in top-5 digital assets, which generate yield
That's it. No algorithms. No self-dealing. No financial games. Just real assets, backing a real yield-bearing stablecoin with market-leading yields.
Anyone can verify Noon's assets and our live collateral ratio directly on-chain via: noon.accountable.capital, where reserves are updated continuously in real time.
Many stablecoins talk about safety but few define what safe really means.
In many cases, collateral ends up sitting in high-risk, uninsured DeFi vaults, looping protocols, or exposure-heavy, black-box trading strategies disguised as “yield.”When the market turns, those “safe” assets suddenly aren’t.
Noon takes the opposite approach.
Every dollar that backs USN is invested only in low-risk, delta-neutral strategies positions designed to earn sustainable yield without taking speculative market positions.
These strategies are carefully selected to prioritize capital preservation, liquidity, and verifiability - and deliver market-leading yields at the same time.
Here’s what that means in practice:
We began Noon with two core strategies both designed to deliver reliable yield while maintaining full neutrality to market direction.
Cash and Carry (Funding Rate Arbitrage): Our algorithms buy spot positions (long) and sell perpetual futures (short) on highly liquid cryptocurrencies such as BTC or ETH.The result is a delta-neutral position that earns the perpetual funding rate with no exposure to price volatility.
Tokenised Treasury Bills: We allocate collateral into on-chain tokenized U.S. Treasury Bills, gaining exposure to the safest yield instrument in the world: short-term U.S. government debt.These positions generate steady, predictable income on a daily basis.
Through our Governance Forum, sNOON holders discuss, evaluate, and vote on proposed new deployment strategies.Following extensive research and community consensus, we’ve added the following strategies to Noon’s deployment basket:
Collateralised Loan Obligations (CLOs): After a detailed analysis of various structured credit instruments, the community approved allocation to Janus Henderson’s JAAA fund.CLOs are backed by diversified pools of corporate loans and historically deliver returns above Treasuries with low volatility and high institutional demand.
Private Credit Funds: We selected Fasanara’s Fintech Tactical Credit Fund (F-TAC) an actively managed fund that invests in short-duration, fintech-originated credit assets such as SME loans, consumer credit, and trade receivables.This provides real-world yield with low correlation to traditional markets.
DeFi Lending: Noon deploys a portion of its reserves into top-tier DeFi lending protocols such as Euler and Morpho, via vaults curated by leading DeFi strategists.Each vault is vetted for smart contract risk, liquidity, and collateral diversification.
Buying Principal Tokens (PTs): As part of our DeFi strategy, Noon purchases Principal Tokens on Pendle, gaining access to fixed yields between 10–20% APY under strict risk controls and full transparency. And we only deploy if we’re fully insured.
Noon continuously monitors market conditions and explores new low-risk opportunities through its Governance Forum.
All future strategies undergo rigorous due diligence, quantitative risk analysis, and community discussion before being presented for voting.
No speculative bets. No recursive looping. No chasing unsustainable APYs.
By focusing on real, verifiable yield sources, Noon builds stable returns that are grounded in reality.
That’s what we mean when we say Noon is backed by real assets.
Most stablecoins are controlled by a small group of individuals in an ivory tower, a handful of executives, private boards, or multisig signers deciding how billions in collateral are deployed.
Noon’s architecture ensures that the same community who holds the stablecoin helps shape how it’s managed, from yield strategies to collateral distribution and risk policies.
Here’s what that means in practice:
1. All decisions are visible.
Every deployment strategy, yield allocation, and collateral movement is documented and published.There are no hidden strategies, no private committees, and no opaque risk-taking, only open, verifiable decisions visible to everyone in the community.
2. All discussions are open.
Before any proposal moves to a vote, it’s discussed publicly with full context, data, and analysis from the Noon team and the community.
Everyone has the chance to understand the trade-offs, ask questions, and make their voice heard.
3. All decisions are made by the community.
Noon’s protocol is shaped by those who use it, not by a small group of insiders.Governance tokens give users direct voting power over strategies, allocations, and upgrades, ensuring that influence follows participation, not hierarchy.
4. Changes cannot happen overnight.
Every governance process includes multi-week discussion and voting periods, giving participants time to review, respond, and prepare.
If someone disagrees with the direction of a proposal, they have ample time to withdraw funds or reposition before changes take effect.
By embedding openness, deliberation, and community control at every level, Noon ensures that power and responsibility remain where they belong: with the users themselves.
Or as our community likes to say:

True security in DeFi comes from code that can stand on its own.
At Noon, safety isn’t assumed; it’s proven through continuous, independent auditing and rigorous internal review.
Before a single dollar of collateral is accepted or a single USN is minted, every line of Noon’s smart contracts is examined by independent, top-tier security firms.
These audits test for vulnerabilities, logic flaws, and potential exploits across all layers of the protocol from minting and redemption functions to the collateral management system and governance mechanics.
Each protocol upgrade that directly involves smart contracts triggers a fresh, third-party review.In other words, every update gets re-audited before it ever touches user funds.
The results are made public for anyone to inspect because in a system built on transparency, the security process should be just as visible as the reserves.
You can view all audit reports directly at:
https://docs.noon.capital/security/smart-contract-audits
If there’s one lesson DeFi has learned, and is continuing to learn the hard way, it’s that you can’t scale a stable protocol by self-dealing.
Many stablecoins that collapsed from algorithmic designs to over-leveraged collateral systems shared the same flaw: circular or recursive dependency.
Their reserves, directly or indirectly, relied on their own token’s value or liquidity.When confidence dropped, collateral disappeared, and the entire structure unraveled.
All of Noon’s collateral is invested in external, independent, and verifiable assets.Noon never deploys into any protocols that, in turn, deploy assets back into Noon. Nor do we conduct any variations of this, like lending to vaults or protocols that accept USN (or related tokens) as collateral.
We never loop liquidity into its own ecosystem or take positions that depend on the token it issues.
This means:
No self-referential lending.
No hidden leverage.
No recursive collateral cycles.
Every yield source Noon uses from the U.S. Treasuries to DeFi lending exist outside of its own token economy.
That separation isn’t just good risk management; it’s the reason Noon can maintain true solvency, even during market stress.
Even with 1:1 backing and transparent reserves, true safety requires preparation for the unexpected.
That’s why we built three layers of insurance that protect users across every dimension of risk from smart contract vulnerabilities to off-chain custodial exposure and short-term market volatility.
To protect on-chain deployments, Noon partners with Nexus Mutual to insure all active DeFi strategies against smart contract risk.This includes coverage for positions deployed through Morpho Labs and Pendle Finance, ensuring that any potential exploit or protocol failure is fully insured and verifiable on-chain.
For off-chain assets like the U.S. Treasuries, CLOs, and other real-world yield instruments, Noon works exclusively with regulated custodians such as Dinari Global and AlpacaHQ.
These custodians provide institutional-grade coverage backed by SIPC and Lloyd’s of London, safeguarding Noon’s traditional asset holdings against counterparty or custodial failure.
Every month, 10% of Noon’s gross yield is automatically directed into a dedicated, protocol-native insurance fund.
This fund acts as an internal reserve that smooths short-term volatility, absorbs shocks external insurance doesn’t cover, and ensures continuous redemption capability even in stress scenarios.
After three months, surplus funds are distributed to $sNOON holders, rewarding those who stake and secure the protocol.
The Noon Insurance Fund covers:
Smart contract risk: mitigated by external + internal layers
Counterparty risk: offset by diversified exposures
Yield strategy volatility: absorbed by reserve flow management
Learn more about our insurance here: https://mirror.xyz/nooncapital.eth/Hhl3XHu98lW05iDz6DoWFtvBPxcBPZv0e2sTT1IIsDM
Every choice in Noon’s architecture from reserves to real-world yield sources and community governance exists to answer one question:
What would a stablecoin look like if it were designed for yields and safety first?
The answer is USN.
Noonvember is the month we talk about what really matters in DeFi: yields, safety, and transparency.
Noon is building the highest-yielding, safest stablecoin and we want you to be part of it!
Start your Noonvember journey:
All of Noon’s collateral, movements, and balances are continuously tracked and verified by our transparency infrastructure partner, Accountable Capital, the gold standard in on-chain reserve transparency.
You can see every dollar, every update, and every strategy live at:
Over the past two weeks, the stablecoin space has seen some controversy.
According to recent reports, the TVL of some prominent stablecoin protocols appear to have been artificially inflated through recursive lending between themselves, a cycle where each protocol lends to the other using their own tokens as collateral.
On the surface, that can make numbers look impressive.
Underneath, it creates fragile, circular exposure, the very kind of hidden leverage that has caused collapses before.
This is not the first time the stablecoin space has seen issues surrounding safety and transparency, and unfortunately, it is unlikely to be the last.
For years, we’ve been told to trust stablecoins, to believe the collateral’s there, the peg will hold, and the risk is managed. But risks like those brought up this week still lurk beneath the surface. And crypto deserves better than blind faith.
Every dollar, every contract, and every strategy is visible, verifiable, and community-governed. Here are seven ways Noon is building the safest, most transparent stablecoin ever made. Which happens to be leading the market when it comes to safe, scalable yields.
Built to last, and built for everyone.
In traditional finance (and even in DeFi sometimes) transparency is often a promise, not a practice.
Many stablecoins only publish attestations every few weeks or months, signed by private auditors and stored as PDFs that few ever read. At most, we see stablecoins self-reporting proofs of reserve, or getting attestations from third parties based on self-reported data.
In between those updates, users are left relying on one thing: blind trust.
Noon was built to eliminate that gap.
Most stablecoins rely on self-reported data, whether directly from their own team, or indirectly through an auditor who receives that data from the project itself. That means the numbers you see are only as trustworthy as the sources that provide them.
Noon’s system works differently, we can’t even edit or influence the data (even if we wanted to).
Our transparency infrastructure partner, Accountable Capital, pulls live data directly from Noon’s custodians and on-chain wallets, bypassing Noon’s internal reporting systems entirely.
In other words data comes straight from the source.
That makes manipulation or selective disclosure technically impossible.
Then, Accountable takes this data and publishes it online for all to review. You can literally see Noon’s collateral in real time deposits, withdrawals, and reserves independently tracked and verified at: 👉 noon.accountable.capital
This means that Noon holders never have to wonder if their stablecoin is backed.
Every $USN in circulation is backed 1:1 by real, liquid collateral.
That means for every single USN, there is at least 1 USD of real assets held by Noon. This is always redeemable, through a proprietary liquidity management system that ensures our ability to cover 100% redemptions in T+1.
This 1:1 structure is the foundation of Noon’s design.
Anyone, at any time, can confirm that the total collateral value in Noon’s wallets matches or slightly exceeds the amount of $USN in circulation.
Noon can afford to be 100 % transparent because there’s nothing to hide.
USN is fully backed by real, yield-generating assets that exist independently of the protocol. Noon’s reserves don’t depend on flimsy tokenomics, synthetic liquidity, or algorithmically-generated value. They’re built with real assets that actually earn, move, and mature like:
Real-World Assets: We hold either legal rights or tokenised versions of real-world assets which generate yield
DeFi Assets: We hold (insured) tokenised positions in blue chip DeFi protocols, which generate yield
CeFi Assets: We hold (off-exchange) delta-neutral positions in top-5 digital assets, which generate yield
That's it. No algorithms. No self-dealing. No financial games. Just real assets, backing a real yield-bearing stablecoin with market-leading yields.
Anyone can verify Noon's assets and our live collateral ratio directly on-chain via: noon.accountable.capital, where reserves are updated continuously in real time.
Many stablecoins talk about safety but few define what safe really means.
In many cases, collateral ends up sitting in high-risk, uninsured DeFi vaults, looping protocols, or exposure-heavy, black-box trading strategies disguised as “yield.”When the market turns, those “safe” assets suddenly aren’t.
Noon takes the opposite approach.
Every dollar that backs USN is invested only in low-risk, delta-neutral strategies positions designed to earn sustainable yield without taking speculative market positions.
These strategies are carefully selected to prioritize capital preservation, liquidity, and verifiability - and deliver market-leading yields at the same time.
Here’s what that means in practice:
We began Noon with two core strategies both designed to deliver reliable yield while maintaining full neutrality to market direction.
Cash and Carry (Funding Rate Arbitrage): Our algorithms buy spot positions (long) and sell perpetual futures (short) on highly liquid cryptocurrencies such as BTC or ETH.The result is a delta-neutral position that earns the perpetual funding rate with no exposure to price volatility.
Tokenised Treasury Bills: We allocate collateral into on-chain tokenized U.S. Treasury Bills, gaining exposure to the safest yield instrument in the world: short-term U.S. government debt.These positions generate steady, predictable income on a daily basis.
Through our Governance Forum, sNOON holders discuss, evaluate, and vote on proposed new deployment strategies.Following extensive research and community consensus, we’ve added the following strategies to Noon’s deployment basket:
Collateralised Loan Obligations (CLOs): After a detailed analysis of various structured credit instruments, the community approved allocation to Janus Henderson’s JAAA fund.CLOs are backed by diversified pools of corporate loans and historically deliver returns above Treasuries with low volatility and high institutional demand.
Private Credit Funds: We selected Fasanara’s Fintech Tactical Credit Fund (F-TAC) an actively managed fund that invests in short-duration, fintech-originated credit assets such as SME loans, consumer credit, and trade receivables.This provides real-world yield with low correlation to traditional markets.
DeFi Lending: Noon deploys a portion of its reserves into top-tier DeFi lending protocols such as Euler and Morpho, via vaults curated by leading DeFi strategists.Each vault is vetted for smart contract risk, liquidity, and collateral diversification.
Buying Principal Tokens (PTs): As part of our DeFi strategy, Noon purchases Principal Tokens on Pendle, gaining access to fixed yields between 10–20% APY under strict risk controls and full transparency. And we only deploy if we’re fully insured.
Noon continuously monitors market conditions and explores new low-risk opportunities through its Governance Forum.
All future strategies undergo rigorous due diligence, quantitative risk analysis, and community discussion before being presented for voting.
No speculative bets. No recursive looping. No chasing unsustainable APYs.
By focusing on real, verifiable yield sources, Noon builds stable returns that are grounded in reality.
That’s what we mean when we say Noon is backed by real assets.
Most stablecoins are controlled by a small group of individuals in an ivory tower, a handful of executives, private boards, or multisig signers deciding how billions in collateral are deployed.
Noon’s architecture ensures that the same community who holds the stablecoin helps shape how it’s managed, from yield strategies to collateral distribution and risk policies.
Here’s what that means in practice:
1. All decisions are visible.
Every deployment strategy, yield allocation, and collateral movement is documented and published.There are no hidden strategies, no private committees, and no opaque risk-taking, only open, verifiable decisions visible to everyone in the community.
2. All discussions are open.
Before any proposal moves to a vote, it’s discussed publicly with full context, data, and analysis from the Noon team and the community.
Everyone has the chance to understand the trade-offs, ask questions, and make their voice heard.
3. All decisions are made by the community.
Noon’s protocol is shaped by those who use it, not by a small group of insiders.Governance tokens give users direct voting power over strategies, allocations, and upgrades, ensuring that influence follows participation, not hierarchy.
4. Changes cannot happen overnight.
Every governance process includes multi-week discussion and voting periods, giving participants time to review, respond, and prepare.
If someone disagrees with the direction of a proposal, they have ample time to withdraw funds or reposition before changes take effect.
By embedding openness, deliberation, and community control at every level, Noon ensures that power and responsibility remain where they belong: with the users themselves.
Or as our community likes to say:

True security in DeFi comes from code that can stand on its own.
At Noon, safety isn’t assumed; it’s proven through continuous, independent auditing and rigorous internal review.
Before a single dollar of collateral is accepted or a single USN is minted, every line of Noon’s smart contracts is examined by independent, top-tier security firms.
These audits test for vulnerabilities, logic flaws, and potential exploits across all layers of the protocol from minting and redemption functions to the collateral management system and governance mechanics.
Each protocol upgrade that directly involves smart contracts triggers a fresh, third-party review.In other words, every update gets re-audited before it ever touches user funds.
The results are made public for anyone to inspect because in a system built on transparency, the security process should be just as visible as the reserves.
You can view all audit reports directly at:
https://docs.noon.capital/security/smart-contract-audits
If there’s one lesson DeFi has learned, and is continuing to learn the hard way, it’s that you can’t scale a stable protocol by self-dealing.
Many stablecoins that collapsed from algorithmic designs to over-leveraged collateral systems shared the same flaw: circular or recursive dependency.
Their reserves, directly or indirectly, relied on their own token’s value or liquidity.When confidence dropped, collateral disappeared, and the entire structure unraveled.
All of Noon’s collateral is invested in external, independent, and verifiable assets.Noon never deploys into any protocols that, in turn, deploy assets back into Noon. Nor do we conduct any variations of this, like lending to vaults or protocols that accept USN (or related tokens) as collateral.
We never loop liquidity into its own ecosystem or take positions that depend on the token it issues.
This means:
No self-referential lending.
No hidden leverage.
No recursive collateral cycles.
Every yield source Noon uses from the U.S. Treasuries to DeFi lending exist outside of its own token economy.
That separation isn’t just good risk management; it’s the reason Noon can maintain true solvency, even during market stress.
Even with 1:1 backing and transparent reserves, true safety requires preparation for the unexpected.
That’s why we built three layers of insurance that protect users across every dimension of risk from smart contract vulnerabilities to off-chain custodial exposure and short-term market volatility.
To protect on-chain deployments, Noon partners with Nexus Mutual to insure all active DeFi strategies against smart contract risk.This includes coverage for positions deployed through Morpho Labs and Pendle Finance, ensuring that any potential exploit or protocol failure is fully insured and verifiable on-chain.
For off-chain assets like the U.S. Treasuries, CLOs, and other real-world yield instruments, Noon works exclusively with regulated custodians such as Dinari Global and AlpacaHQ.
These custodians provide institutional-grade coverage backed by SIPC and Lloyd’s of London, safeguarding Noon’s traditional asset holdings against counterparty or custodial failure.
Every month, 10% of Noon’s gross yield is automatically directed into a dedicated, protocol-native insurance fund.
This fund acts as an internal reserve that smooths short-term volatility, absorbs shocks external insurance doesn’t cover, and ensures continuous redemption capability even in stress scenarios.
After three months, surplus funds are distributed to $sNOON holders, rewarding those who stake and secure the protocol.
The Noon Insurance Fund covers:
Smart contract risk: mitigated by external + internal layers
Counterparty risk: offset by diversified exposures
Yield strategy volatility: absorbed by reserve flow management
Learn more about our insurance here: https://mirror.xyz/nooncapital.eth/Hhl3XHu98lW05iDz6DoWFtvBPxcBPZv0e2sTT1IIsDM
Every choice in Noon’s architecture from reserves to real-world yield sources and community governance exists to answer one question:
What would a stablecoin look like if it were designed for yields and safety first?
The answer is USN.
Noonvember is the month we talk about what really matters in DeFi: yields, safety, and transparency.
Noon is building the highest-yielding, safest stablecoin and we want you to be part of it!
Start your Noonvember journey:
All of Noon’s collateral, movements, and balances are continuously tracked and verified by our transparency infrastructure partner, Accountable Capital, the gold standard in on-chain reserve transparency.
You can see every dollar, every update, and every strategy live at:
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