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20% on USD with @noble_xyz
Recorded: March 14, 2025 Duration: 0:44:47Space Recording
Short Summary
The discussion highlights the launch of the Noble Dollar, a stablecoin offering a 4.2% yield backed by treasury bills, with a temporary boosted yield campaign. Strategic partnerships with entities like Superstate and plans for IBC integration are noted. The conversation also touches on trends like currency debasement and innovative uses of stablecoin yield, emphasizing the product's potential for growth and adoption.
Full Transcription
GM GM, how you doing?
I'm doing great. How are you?
I'm good, I'm good.
I'll just amplify the space and we'll get stirred in a couple of minutes.
I had a few technical difficulties, but it seems like things are working out now.
Amazing.
Nice. Meanwhile, would you like to listen to some mad scientist music?
Is that something that you'd be?
Yeah, let's do it.
It's not great, but it's ours.
Let's do it.
Scientists, everything is an experiment.
Mad scientist, everything is an experiment.
Mad scientist.
Everything is on it.
Mad scientist.
Everything is an
Mad scientist.
Mad scientist.
Mad scientist.
Mad scientist.
Mad scientist.
Mad scientist.
Mad scientist.
Matt scientist.
Everything is an experiment.
The dead.
Mad scientist.
Everything is an experiment.
Mad scientist, everything is an experiment.
Not scientist, everything is an experience.
Not scientists.
It's scientists, everything is experiment.
Quite original and catchy, am I right?
I love that.
Did you get that made?
Like, that's awesome.
It's all AI, by the way.
Oh, wow.
Cool.
That's amazing.
It's quite fun, though.
And you can actually add more lyrics because they're a little redundant here.
That being said, you can be as creative as you want with AI nowadays.
It's pretty cool.
I love that.
That's amazing.
Yeah.
All right. So I'm just amplifying it in a few more channels, and we'll get started in one minute.
As a reminder, this space is recorded. Is that okay with y'all?
Most of the time, we have a lot of people listening to the recording.
So that's kind of a thing.
Absolutely. Absolutely. Yeah, let's go for it. Feel free to record.
Nice. Thank you for that.
By the way, is this Yelena from Noble?
Yes, it's Yelano.
Yellowing.
Okay, thanks.
Zerk, co-founder of Mad Scientist.
So...
Thank you for joining the space today.
And I'm excited to learn more about what you guys have been building.
I'm actually using the USDN as a savings account right now.
Amazing.
Yeah, yeah.
It's been, honestly, the Kepler integration has been really cool.
We'll get into it.
But it was so simple, so easy.
I was like, well, I might as well put some money with the way things are going in this market.
Might as well.
4.2%.
Might as well.
Yeah.
4.2% is better than minus 50%.
Yeah, and obviously we're running a campaign as well for the next four months,
which I'm happy to get into more details.
But you'll see that from the campaign, we actually have a boosted yield between 15 and 20.
So again, happy to go into more details on how the mechanism works and what we've built.
But.
Great, yeah, great to hear you had a good experience with the capital
integration.
Yeah, it was very good, very well done.
All right, well, let's get the spaces started.
It is Friday afternoon in some areas Friday night and others, and I guess Friday morning,
if you're on the West Coast.
Today, we have the privilege, the honor the,
the prestige of having Yelano with us from Noble to talk about their USDM product,
which I think is one of the more important products right now in the crypto ecosystem,
just because of all the market uncertainties.
And here you're earning yield on a stable coin.
So I feel it's super valuable.
Everybody should look into it.
And on top, she just mentioned that, you know, there's a campaign that's being
done, I think there's points and they're boosting your yield.
So there's a few things on, you know, why you should get into it right now, in my opinion.
But let's get to some introductions.
I'm Zirk, co-founder of mad scientist, and Yelanem might as well introduce yourself on what you do at Noble, basically.
Awesome. Awesome. Well, yeah, I'm Yelina. And of course, I'm the co-founder, CEO of Noble. For those that are not familiar with Noble, we started off about two years ago with a very simple mission, which is how do we get native stable coins in the Cosmos ecosystem?
you know, we wanted to make sure that we created a user experience kind of under the hood,
Okay.
where the issuance of those stable coins to all of the dozens of chains and the Cosmosis ecosystem
were, you know, pretty seamless. And so we did that. We have this like,
one-click ux philosophy right so if i have stable coin on dyx let's say usdc and i want to take that to
another destination it's very important for us that you know the user doesn't have to think about all of the
you know,
complexities around,
routing and fungibility and things like this.
and so yeah,
we did a really good job with bringing native USC to cosmos and we learned a lot
in that process.
And part of that kind of learning was,
of course,
First of all, we learned a lot about stable coins.
Like we did a very big deep dive on like, you know, like stable coins as a primitive, right?
Like, you know, of course they've been around for about 10 years or so.
Tether came out, I think, back in 2014.
But really, they took off in 2020.
Like if you look at the total market cap of stable coin issuance, that really started taking
off in 2020.
Of course, USDC came out in 2018.
So these are actually relatively like newish primitives in the sense that,
They're really taking off on a big, like, scale like now.
And so we are very, very excited to kind of be at the forefront of that.
And so obviously after we brought native USDAC to Cosmos, we brought other stable coins and real world assets to the ecosystem,
including on those USDI, hash notes USYC, hash not actually got acquired by Circle.
That's actually a tokenized treasury bill.
It's actually a security.
We have the euro for Monarium.
Okay.
We also have others in the pipeline.
And of course, we now have the Nobel Dollar, which went live last week.
So, yeah, that's the kind of 1.0 vision for Noble, like a distribution and issuance hub for these stable coins.
And there's really a lot more from there.
But that's kind of the brief...
introduction. Nice, very cool. And yeah, having native USC on Cosmos and native stable coins,
I think is a big security factor. So thank you for contributing to that. So I want to jump
into Noble USC. I think like I mentioned earlier, a very important product. Just to tell you,
I'm part of the, you know, used to be part of the Terra ecosystem and we had anchor protocol on there.
And I know a lot of people.
then, you know, had a bad experience with that.
But from a user perspective back then, I thought that that was a genius product.
That is what retail needs.
They just want a little bit more yield on their U.S. dollar.
Nothing too fancy, nothing too crazy, no meme coins, you know, no 1,000 Xs or rugs.
They just want a little more yield.
And I feel like you guys are proposing this.
from a very user-friendly perspective on top of it.
So, yeah, talk us through the vision of Noble USDA
and how you guys executed that.
Yeah, absolutely.
Sorry, I'm also just feeling a bit sick, just in case I cough.
So, yeah, so we really take our kind of philosophy
in terms of our development, like,
very much from a partnership perspective.
So we really value our partners like immensely.
And that includes Circle, of course.
That includes the other issuers I mentioned.
And most recently,
this includes M0.
And so,
you know,
when we kind of started getting to know the M0 team a few years ago
or a couple of years ago,
we really,
really valued kind of their philosophy and their mission for kind of their platform,
which is a multi-issuer model where you can white label entities like Noble in terms of having,
you know, these white labeled permissioned entities like come in,
take this primitive that they've built,
which is fundamentally M, right, under the hood.
And then you white label that.
in this case, Nobel Dollar, and then you can actually completely kind of control the underlying
yield, which is all 100% T bill collateral.
Okay, so M, the primitive underneath Nobel Dollar, is collateralized by short-term treasury
bills.
And you can actually look at all of their collateral on chain.
They have a kind of a validator network that attests to this collateral every day, every 24
hours.
and you can look at that on dashboard.m.0.org.
And what that collateral allows is any issuer of M, so Noble, to really control how that yield is kind of distributed and kind of, you know, distributed to the community that it serves.
Right.
So, yeah, we could talk about, like, kind of why USDA unyield is now 20, like, between 15 and 20%.
That's not going to last forever.
To be clear, the real yield of Nobel Dollar is 4.2%.
That's a short-term T-Bill rate.
Just with everything going on in the world.
I'm here to hype it up, you know.
I changed the name in the space as 20%.
Yeah, I saw that.
I was like, wow.
Yeah.
Yeah, we got it.
You know, this is for crypto people, right?
So they like the 20% yield.
But yes, fully, that's good that you explain that.
It's 4.2% most of the time.
Well, yeah, yeah, because everyone, like, knows, like, you know, I mean, a lot of people on the call, I'm sure remember anchor, as you said in Tara.
You know, so I just want to be clear, like, this is extremely different, extremely different, right?
Like, so again, let's take a step back.
So you have noble dollar.
Okay. Noble dollar is a wrapped version of M, which lives on Ethereum.
M is a token that is created by a team called M0.
And this token is a dollar stable coin.
It's collateralized by treasury bills in the same way that USDC and Tether are.
But the yield earned on the T bills of that token are completely composable and distributed by the entities that distribute M like Noble, right?
So we took M, we made it Noble Dollar, which is, again, all collateral, all the collateral is T bills.
Right.
And we decided, okay, let's, let's, like, run a program, right?
Like, let's run a points program.
Let's, like, do these vaults.
And let's really kind of get the community, like, excited and understanding of, like,
why noble dollar is unique and different, right?
Then all the other stable coins out in the market.
And so, yeah, it's been, honestly, very successful so far.
And to be clear, like, stable coins, like, as a primitive, again, like, are just so valuable.
That's why you have, like, the stable coin market, like, just,
going crazy right now, like, you know, the issuance of stable coins keeps going up, but like the
market cap of crypto is like going down, right? Because people see value in these coins like,
as like on their own, no matter what crypto is doing, but you add yield on top of that and you add
composable yield and you make those tokens permissionless. It's actually quite powerful. So again,
it's 20% right now.
but it's going to, you know, that like changes over time.
Right.
But by the way, there's like other strategies you can run.
with that real yield to continue kind of juicing those that 4.2% yield right like we're just doing
at the points campaign but there's like really cool stuff in defy that you could do to kind of keep
kind of juicing that yield so yeah it's it's really exciting again like other people have kind of
compared kind of us dn to like pendle or uh
you know, Pendle or, I don't know, you know, I think you know, not really like it's different,
like kind of like other stable coins in the market, and we're just like excited to kind of be amongst those folks.
Yeah, that's very cool.
Why, you know, I'm wondering the decision of having it all backed by U.S. treasury bills.
I mean, there's a lot of different stablecoin designs and why is that the one you guys picked for USDN?
Honestly, it is the most like elegant, seamless structure that also allows us to actually continue building on top of, right?
So if you think of it, noble dollar, as I said, it's a dollar stable coin collateralized by treasury bills in the same way that USDC and Tether are.
But the yield gets passed on to various stakeholders in a.
transparent, kind of automated programmatic way, right?
So it's very defy friendly, right?
You have other kind of stable coins that obviously are yield bearing,
you know, some of which we support.
And, you know, they're all different, right?
Like how you mint them, how you redeem them,
how you integrate them into defy protocols,
you know, the permissioning of these assets.
They're all different, right?
Even though they're all kind of backed by T bills.
So for us, we just really wanted to make sure, like,
We want the most permissionless, like, simple kind of mechanism for noble dollar in terms of a yield-bearing dollar.
And, of course, over time, there's, like, really cool things you could do with it.
In fact, we can have multi-collateral noble dollar, right?
I mean, you've seen, like, die, obviously, right?
There's, like, other examples of multi-collateral, like, dollars, or stable coins, assets, RWA's.
Like, this is stuff that we can do if there's demand for it.
So we just think, like, the current version of USDN with, like, M-R-1.
under the hood is just extremely seamless.
Yeah, you know, on osmosis, we're big fans of alloyed assets,
but I'm not sure everybody is.
This is a different approach right here.
Could you maybe just explain who's part of the M-Zero team?
Because it's not, you know, for me, I just learned about it once you guys launched.
So maybe you said you've worked with them in the past in some way or fashion.
So maybe, yeah, how M and M0 kind of came to be the issuer here.
Oh, yeah, that's a great question.
You know, as I said, like, we really take our partnerships, like, very seriously.
You know, it's really, it's really like, one of the reasons that Noble, I think, has, like, very good,
kind of brand like we take our partnership seriously so we uh of course uh as i said we've kind of
been in touch with the m zero team for a couple of years they're a really cool team they're ex um circle
uh and ex maker tao folks um so uh actually um they are have been instrumental in like both
projects like the kind of the folks like that came from those teams um one of the kind of team
members of at m zero uh he was this
He's currently the chief strategy officer.
I believe that's his title.
He was the head of product at Circle when USDC launched back in 2018.
So he really actually is like one of the original like inventors, if you could say, of
USC, which is just amazing.
So he has like a lot of experience, of course, bringing USC to market, kind of early Circle
days.
there. And then, yeah, the other folks, X-Maker Dow, so former, like, second hire at Maker
Dow, obviously worked very closely with the, like, Rune and like the founders, Nikolai, back in the
day. So again, like, there is, you know, incredible kind of folks, like on the M-Zero side that
have really done their, like, due diligence and really have worked super hard to create a system where
The collateral is like verifiable, right?
Like there is key bills like held in real bank accounts around the world that like
actually collateralize like these these M tokens.
And of course, Nobel dollars is now, I don't know, like a fifth of their TVL.
But more than that, like they have really good partners like around like redemptions and like minting and things like this.
So they're working with a project called Superstate, which is Rob Leshner.
who, of course, he's the founder of Compound.
He started Super State, and they actually just got their SEC registration to be a transfer agent.
So point being is that there's a lot of really good talent on the M0 side,
and we're just really proud to be one of their first sort of white-labeled distribution partner of M.
Nice. Yeah. Sounds like a stack team that they got there. And congratulations on achieving, I think it's already 25 million of noble USBN and growing every day.
Yeah, yeah, yeah, exactly. Yeah, we've got to 25 million in a...
in a week.
Yeah.
And everybody here
that's listening
to the space,
you know,
I put up 20%
on USB.
This is a limited
time offer.
I'm doing like my
shiller here,
but get in early
because afterwards
the API is going to get
lower than that.
And I want to talk
about, I guess this user experience that you built out, I think in close partnership with
Kepler, but the dollar.noble.xyZ is also a beautiful website. You guys did an amazing job
here. You can buy USDN. You know, you guys have all the Fiat on ramps here. So kind of
trying to make it from my externalize as retail friendly as possible. Was that kind of the vision
here on how you guys wanted to deploy this?
Yeah, yeah. Honestly, like, all of the metrics that you see, we're really proud that it's all very organic.
So, you know, as I said, like, U.S.C.N. is, like, very permissionless.
Okay. We're trying to, you know, we want UCCN to be, like, as commercial as possible, while still having this incredible benefit to people where you can get this, like, safe, reliable yield, like, in a self-custodial way in your wallet.
Right.
And of course, I think that resonated with people like,
You know, we do obviously have this like points program, which we're super excited about like, you know, it is just a great like way to just like build community around Noble and really have this like be a community project.
But at the same time, you know, fundamentally even without the points program, it like this is a really powerful like primitive, right?
Because you have a dollar. It's like worth one US dollar, pays you yield.
your principal grows over time.
And, you know, we can talk about why stable coins are so important and amazing.
But there's so many people all over the world that don't have access to US dollars in a reliable way, that do see currency debasement, that, you know, want to.
You know, I'm from Canada, and I see this USDA, the Canadian dollar debasement because of all the crap that's been happening.
So I'm happy to hold the US dollars.
Oh, I'm Canadian too.
I'm also in Canada.
Oh, that's great.
Well, okay, Canadian spaces today, eh?
Yeah.
Yeah, no, exactly.
I mean, even Canada, it's really rough.
You can actually, like, go on...
dollar.noble.xy z and like if you scroll down we have like a calculator that actually like shows you
like if you compare the u.s dollar to us dn um to a local currency let's just say the canadian dollar
you can actually see the debasement so like i just i just did this right now right i'm on the website
so if i have
Okay, let's say 1,000 noble dollars.
I don't know if I want to know this, by the way.
This is, but, okay, that's good.
I know.
It's pretty bad.
It's actually really bad.
So in, okay, so if I have, um, in, okay, if I have a thousand noble dollars and I
call that for two years, okay?
So this is just like a way to gauge, like, how bad it is.
So I will have, obviously, if I have a thousand U.S. dollars, that's $1,000 U.S. dollars in two years.
If I have a thousand noble dollars that pay me yield, that's about $1,084 projected at the end of two years.
If I hold that in Canadian dollars, I actually have 911 at the end of the two years.
So I have to have $200.
Yeah, that's a $200 difference for me holding, you know, Noble U.S. GAD instead of holding...
And that's Canada.
Yeah, Canada's usually not so bad, right?
Yeah, but unfortunately, you know, it's getting worse and worse.
And so there's, listen, there's like other places in the world where,
It's even worse.
There's other places where it's better, right?
Okay.
Like, I really hate, like, using Argentina as an example, but it's just, like, so explicit.
Like, I just put this in right now.
Again, I would encourage people on this spaces to just, like, go to dollar.
Dot, noble.
XYZ and just look at...
Oh, boy.
Argentina's wild.
Yeah.
Yeah, do you want to, do you want to say what you were healthy?
Yeah, I mean, it's crazy.
It's $176 after two years of holy, right, instead of a thousand or $1,080 if you hold noble.
Which is more, actually it's a thousand two hundred right right now because we said it's 20%.
Anyways, let's move on.
So yes, currency be baseman, it's great that you're offering this yield, you know, the stable yield on the US dollar, which is still to this state, one of more stable currencies that we can see.
I'm wondering, you know, from the launch of this, the Kepler integration, this great website,
This looks a lot like aimed at it as a savings account, right?
But I'm wondering if there are plans here to kind of populate US, the end, and I think you kind of alluded to all across DFI here, right?
Like different ways of using this on protocols, on DFI protocols, on all the chains, basically.
Yeah, exactly. So we call this USDN everywhere or Noble Dollar Everywhere. So obviously we're starting with the Cosmos ecosystem. So we're going to have probably in about six weeks or so. We're going to launch Noble Dollar over IBC, which means that any IBC enabled chain can take USC on their protocol.
And they can actually completely control how USDN is
how the yield occurs, right?
So, you know, let's say, like, not every protocol is, like, noble.
They don't necessarily have the same, like, product, like, objectives or go-to-market objectives.
So, for example, let's say you're a perpstex.
And right now, the collateral on your perpstex is a dollar that does not pay yield.
Okay, well, what if you allow a yield-bearing dollar, like noble dollar, to be the collateral type on your...
Purpstex and now all of a sudden you can actually like go long short like even more because of course your collateral actually pays you yield every day
So there's like you know very interesting like defy implications for these yield bearing stable coins and
We just want to make sure that as many protocols have like kind of
ability to kind of control that as possible
Nice as a very very early test net user of hyper liquid
And knowing two friends that are part of the core team, you know, I feel like that would make a lot of sense to have USBN on a lot of these persimitiv because they use, you know, USC all the time.
And that doesn't give you any extra yield. So like, why would you hold USC instead of USDA?
Would you have any examples to kind of prove a counterpoint?
Yeah, I mean, listen, like, I actually think USC and USCN are very, like, symbiotic, right?
And you actually see, like, this with other, like, stable coins in the market where oftentimes, you know, USDC is, like, the most liquid pair, like, for these stable coins, right?
Whether you want to, like, go in and out, maybe, like, obviously it's easier to, like, off ramp or on ramp, you know, with USC.
So that's obviously...
a huge kind of benefit for for folks.
And, you know, I think like it's very interesting how people like, you know, like these
assets all works like symbiotically.
Like that's the idea.
Like it's not like one or the other, right?
Like, you know, I feel like because we are so used to the traditional financial system,
it's like, oh, well, I have like one bank or I have like one.
I don't know, like one payments provider or whatever.
Like typically, like, think about how we use the internet.
Like, we, you know, we, we have multiple, you know, service providers, whether it's like social media, whether it's, you know, like different tooling.
So I think, like, in general, that's how we're going to be using these, like, stable coins.
Like, it's not necessarily, it's not one stable coin to rule them all.
Like, you might use...
one stable coin to on ramp or off ramp,
you might use another stable coin to,
like as a savings mechanism, right?
Like USDN, you might use another stable coin
for trading.
You might, you know, like the point is like,
there's different use cases for different coins.
Yes, that's the very Canadian way of saying.
We love everybody.
I love it.
No, no, it's a great point.
All right.
So, you know, this was kind of a topic of discussion a few years ago,
earning yield on a stable coin.
What about, like, you know, regulations now with the president launching his own meme coin?
I think people don't talk about regulations as often.
Was there any...
Were there any challenges, right, in deploying something that is, you know, basically saying you're going to earn yield here. This is like a savings account, you know, security laws and all that. Can you talk to me a little bit about the legal implications of USDA?
Yeah, for sure. So we have done a lot of, you know, kind of investment into this, right? We have, you know, kind of lawyers that advise us on this type of thing. That's, you know, a big part of our budget is like legal counsel.
And we have obviously established, so Noble, you know, it's because of how M works, it's very defy, again, it's very defy native.
It's very like crypto native.
So when we take M, the way that it works is we take M from Ethereum because that's the only place where it's actually minted, like natively.
We take that to Noble.
We wrap it as Noble dollar and that's then distributed to like the ecosystem and people can freely access it.
So technically under the law, we're not actually an issuer.
We're actually a distributor, which is really nuanced.
Of course, we brand at Noble Dollar and we have like a front end and all that stuff,
but we're not actually the primary issuer.
So, yeah, it's very nuanced, but of course we're very global in nature,
and it's very important that we, you know, kind of maintain that focus
and the permissionless element as well.
Yeah, absolutely.
It makes sense.
I know you mentioned the points campaign rate that is coming up.
I don't know if you can provide us more details about what's that going to look like and what can people earn or win or, you know, kind of more details around that.
Sorry, for the points campaign?
Yeah, the points.
Okay, got it.
Yeah, so we're running this points campaign for the next four months.
You know, we're really, like, excited to see how it goes.
And it's very, you know, it's been, honestly, like, a lot of fun so far.
I'm legally unable to, like, say, like, what the points are going to be for.
So just stay tuned.
That's, you know, important advice we got from our lawyers.
But it is going to be very meaningful for kind of the community.
And...
We're going to be running that, as I said, for four months.
So, yeah, for those that are not familiar, there's a points campaign that we're running.
So, as I said, the Nobel dollar kind of real yield rate is 4.2%, right?
That is the Treasury bill rate.
That is how Nobel dollars collateralized.
That will always remain to be the case with or without points.
But what we did with the points campaign is we said, okay, we have two options.
You have Nobel dollar in your wallet on Kepler.
soon Metamask and Phantom as well.
And you want to deposit your Nobel dollar into a vault.
You can either deposit it into a points vault where you can earn points so long as you
kind of keep your USDA in that vault.
There's no lockup so you can withdraw it at any time.
But of course you will forfeit certain points if you don't lock it up for long enough.
But if you get points, you don't get the yield.
So you actually don't get the 4.2%.
Oh, that's interesting.
So it's just points for the people that lock up in the vault.
And then, okay, well, go on.
Yeah, that's interesting.
I didn't know that detail.
And then the yield that people like give up the 4.2% because they want the points,
that gets redirected to the boosted yield vault.
And that's why you're seeing between 15 and 20% yield because most people actually do want
points.
They don't want their real yield because they're super excited about Noble.
And that's where you get the extra yield.
Nice.
Very cool.
And you know, just for me, because I did it in my Kepler, this is not live, correct?
Or am I missing out on something?
Oh, yeah, you're missing out.
Oh, boy.
Okay.
Yeah.
All right.
So I can deposit it in the yield and the boss right now.
Where would that be?
That would be on the website or I guess on...
It's points.
Dot noble.
XYZ.
And then, of course, we link to the points page from dollar.
Dot, noble.
XYZ.
Okay, this is good to know. And I guess, you know, I haven't seen it on the website that clearly. So it's just, yeah. So, okay, good. Because I thought you were talking about a future points campaign, but you can get the points right now. So I'm going to do that. Yeah, well, the points are starting to, you know, accrue right now, right? And it goes for four months.
Yeah, so get your points.
If you have USDN already, you know,
an earning yield 4.2%,
Yelanuk cannot promise us that this will lead to, you know,
financial gains, but I will because I'm not part of the team.
So I think this point strategy is great,
especially if you're going to be holding USBN.
I think it makes a lot of sense.
So thank you for building that up.
And what happens after the four months?
Is there like any...
you know, discussions about
prolonging points or
perhaps doing another campaign later down
the line? Yep. Yep.
Yep. Yes.
No, I think
stay tuned. We'll see how it goes.
The lawyers are behind. They're like, you can't say anything
else here.
Yeah.
But yeah, so, okay, cool.
I see it.
I see it.
Oh, that website is really nice.
I think it's the first time I'm accessing it.
Oh, there's even a leaderboard.
Okay, yeah, do check it out points.
Notnovel.xyZ.
For those that didn't know, you can, you know,
get the boots at API of 16.7%.
Yeah, I'm probably going to do it for four months, so that's cool.
Thank you for building that out.
All right.
So is there anything else you wanted to share with us about Noble USDN?
If I forgot something, I don't know.
Yeah.
No, honestly, this has been fantastic.
I think, like, the main thing is, like, stay tuned for a bunch of, like, governance updates
across, like, various, like, costs.
Cosmos chains to get like USDN integrated like again because USCN is composable yield like
Whether your osmosis or the hub or do IDX or anything like this
You are going to see these protocols integrating
USDA in very interesting ways, right? So for example, you can actually do a mechanism where you have like
USCN yield
doing a buy and burn of their native token, for example.
You have, you know, different, you know, ways of directing yield that is going to be, I think, really interesting.
Honestly, I think Cosmos will start this trend and you'll see other, like,
you know, L1s, L2s, et cetera, like adopting this mechanism.
Nice.
That sounds really cool.
So I'll get into that, kind of the future of Noble.
The one thing that I'm always interested in in crypto's payment system, and you kind
of alluded to that.
Wouldn't it be cool?
You know, I deposit, let's say, $1,000, you know, in Noble USDA.
And all the yield that accumulates from that pays for my Netflix membership, right?
Or whatever.
Yeah.
Yeah.
After a year, I can still withdraw.
I still got that $1,000 cash,
and I got free Netflix for a year.
Or I could ask the password from my sister,
but you know, that's another story.
Yeah, no, listen, like, that's one way to do it because it is composable yield.
There are so many things that can be done.
You know, I'm just now starting to get, like, involved in, like, the AI plus, like,
staple coin discussion.
There's a lot of interesting things there.
You can, like, tip agents.
I mean, again, it doesn't have to be USDAN.
Like, I think staple coins will be a big part of the AI economy no matter what, but we believe
USDN is the most permissionless kind of.
you know, again, like composable kind of stable coin to be available.
And there's just so many things that can be done with that.
Yeah.
So I know on Osmosis, we have kind of the cipher card, which is the payments card.
You guys are probably already talking with some payment providers or integrating with, you know,
people using USBN as, you know, to buy their groceries and whatnot if they wish to do so.
Exactly.
Exactly.
Nice, cool. I'm excited for this, you know. Hold the USDA. Why not? There's yields. You can get points. Feels like a simple message to me. It's decentralized, backed by T-bills. I think 109, over-collateralized 109%. That's what I saw, right?
Yeah, I think 103%.
Okay, cool.
And all right, so outside of USBN, what are some of the things you're excited for, you know, within Noble in the next coming years?
I don't know if there's like a look in the future that you can share with us on what you guys are planning to achieve.
It's always interesting and curious to know what founders are looking forward to.
Yeah, it's a great question. Okay, this is going to maybe sound like too basic, but I'm really
excited for, in general, for crypto projects to start, like to have real revenue. You actually
saw this like with the meme coin craze. And I personally, I'm not a big fan of meme coins.
I don't think like they're sustainable or they're here to stay. But I did really admire
the revenue story for, you know, for Jupiter, for radium, for, you know, pumped off fun, for bonk bot, like all of these kind of services around kind of like the mean coin cycle, like resulted in real revenue, right?
And I actually think that's like really important because like I really want to get away from this current meta where these like tokens only have value because people say they have value.
And I'm actually really excited for like real protocol revenue and how that like changes like token economic designs.
Oh, that's great point. You know what? I always mention this. I feel like a lot of projects don't even need a token. You know, if your service is good enough and generates enough fees.
then might as well get paid in real cash, real fees.
And that's basically the usage yet.
Do you really need a token all the time?
Yes, if you have governance and things like that.
But Pumpdot fund does not need a token.
And they're earning $30 million a month.
I mean, just to be clear, just because you have revenue doesn't mean you don't need a token.
Like you can have protocol revenue and still have a token because it's actually a way to...
it's a way to distribute like upside in your in your project like like a stock right so i actually
think it's um definitely not one or the other but i think like as you said like yeah phom to font
font doesn't need a token because honestly i just don't think it's like a project that people are
going to want it like necessarily um i don't know
We'll see.
You're not a pump fund aficionado, it seems.
But yeah, no, for me, it's, it's, I feel like less token is better.
Most of the time, there's, there's less expectations and, you know, less promises.
And yes, I guess everybody does want a part or share pump that fun revenue.
But, you know, it's not always the right thing to do.
But I guess, yeah, you're right.
You can have both, which is cool.
Yeah.
But yeah, no, that's a really cool answer.
Appreciate that.
Is it okay if we take a few questions from the audience before we wrap this space out?
That's a question if you're okay with it, basically.
Yeah, of course. Yeah.
Okay, I have one in the Discord.
It's always, okay, so bear with me.
We are an NFT project, so, you know, you always get that question.
Is there any, are there any plans to participate with the NFT communities, I guess, on the noble side?
I guess we'll do.
Yeah.
Definitely, yeah, we're working on a couple of initiatives.
One is with the sloth community.
So I see some sloths here.
That's the Celestine Slots or the Celestia NMT project.
It's on Stargaze and it's very much a Cosmos kind of thing.
And that's kind of the beginning.
So we also, of course, launched our own
an F.T project called Friends.
A couple of years ago, it's on Stargase.
The tickerous F-R-N-Z.
It was a bit like the Unisox campaign from back in the day that Uniswap did,
where you could buy a Friends NFT that would also get you a bracelet,
like a physical friendship bracelet.
Oh, I remember the bracelets.
That I remember.
I was like, what is this?
And then the bracelets.
Okay, yeah.
Yeah, yeah, exactly. So, yeah, we're going to be doing stuff on that front, too, with a friend's token. So, yeah, definitely stay tuned.
Nice, nice. Very cool. I'm going to recheck this because I kind of lost track of the friends one.
And, yeah, from the math scientists, if ever you guys want to do something, we're always in.
I love the cross-collabs that we see between NFT communities and protocols. I think it's
quite unique to Cosmos. And again, I want to thank you for joining and sharing all your insights with
our community. But it's been like super easy. DM'd you and you guys said yes and now we're here
chatting. And it's not as simple on, I feel, on other chains. So it's great to see this
collaboration we see in Cosmos.
Thank you. That means a lot. That really means a lot. That's awesome.
All right. Well, any closing thoughts? Any last call to actions?
Might as well. I'll do a few of my own. So do give Noble a follow.
Check out, you know, USBN. I feel it's a great stable coin.
When it's back to your earning yield three, you can actually earn points for the next four months.
So do that.
and yeah, be on the lookout for them deploying or enabling some defy opportunities, perhaps some sort of
I don't know if it's going to be on perps markets or some different pools.
We'll see what happens with the USDN, but like you later mentioned earlier, it is composable.
So I'm sure there's going to be different strategies within the cosmos.
So follow, get USDN, get your points.
On your side, is there anything else that you wanted to add here?
No, I mean, we do have a Discord.
So folks want to kind of pop in there.
Okay.
We did post the link on Twitter.
I don't know what the best way is to share that link right now.
But I'll repost it on our Twitter.
Okay.
right after this.
And then, yeah, just, like, feel free to, obviously keep in touch.
And we're always available.
And, yeah, this has been a lot of fun.
Thank you.
Thank you.
And hopefully maybe in six months or a year, I'm kind of scheduling things in advance.
We can have this space again when you guys reach the one billion USDM, uh,
Market cap, that would be really cool.
I'm going to watch that chart.
I'm sure it's going to be an up-only chart.
But the one time you can actually see a chart that goes up only.
It's probably, you know, issuance of US.
Thank you. I appreciate that. Yeah, let's do it for sure.
Awesome. Thank you for having me. Thank you. I appreciate everybody tuning in. As always,
this space is recorded so you can listen to the recording at a later time. And thanks for your time,
everybody. Have yourselves a lovely Friday. Thank you.
Awesome. Bye.
