Noble Protocol has quietly been building one of the most promising stablecoin infrastructures in crypto, backed by industry heavyweights like Polychain Capital, Paradigm, Circle, and Wintermute. What makes this particularly interesting right now is their ongoing points program that could lead to significant rewards for early adopters.
Here's what you need to know: Noble has created a yield-bearing stablecoin called USDN that's fully backed by U.S. Treasury bills. They're currently running a points program where users can either earn yield on their deposits or exchange that yield for Noble Points.
What is Noble Protocol?
Noble is not your typical blockchain project. It's a purpose-built Cosmos appchain specifically designed for issuing and routing stablecoins like USDC. Unlike traditional approaches that rely on wrapping tokens or using bridges (which often introduce security risks), Noble enables native minting and sovereign routing of stablecoins.
Key Features of Noble:
Native Issuance: No contracts, no bridging, no duplication - just native stablecoin issuance
Secure Infrastructure: Runs on a Proof of Authority model with strict penalties for misbehavior
Impressive Connections: Routes assets to over 50 chains via IBC and CCTP
Solid Backing: $18.3 million raised from top-tier investors
Growing Ecosystem: Over $600 million in digital assets already issued on Noble
The Team Behind Noble
Noble has assembled an impressive team that you can follow for updates:
Jelena Noble @jelena_noble
Stefan Coolican @StefanCoolican
John Letey @johnletey
Sonya Shap @sonya_i_shap
How to Participate in Noble Points: Step-by-Step Guide
Step 1: Bridge USDC to Noble
Visit Noble Express
Connect your Leap wallet
Select the network you want to bridge from
Enter the amount of USDC you want to bridge
Complete the transaction
Step 2: Swap USDC to USDN
Go to Noble Dollar
Swap your Noble USDC to USDN (note: there's a 0.1% fee)
Confirm the transaction
Step 3: Deposit USDN for Points
Navigate to Noble Points
Choose between "Yield Vault" (for just yield) or "Noble Points Vault" (exchanging yield for points)
Enter the amount you want to deposit
Complete the transaction
Connect With Noble
Follow Leap Wallet for more alpha: @leap_wallet
FAQs
What is USDN and how is it different from other stablecoins?
USDN (Noble Dollar) is a yield-bearing stablecoin fully backed by U.S. Treasury bills. Unlike many other stablecoins, it combines real-world finance with DeFi applications and generates yield directly from its backing assets.
How long will the Noble Points program run?
The current Season 1 of the Noble Points program began on March 5, 2024, and will run for four months (ending in mid-June 2024).
Can I withdraw my USDN at any time?
Yes, you can withdraw your USDN at any time, but keeping it deposited longer may result in earning more points.
What happens after Season 1 ends?
Noble hasn't provided specific details about what happens after Season 1, but with their AppLayer scheduled for release in September, we can expect continued development and potentially new opportunities for points holders.
Is there a minimum amount required to participate?
There's no official minimum requirement. I started with $500 to test the system before increasing my position.
How secure is Noble Protocol?
Noble uses a Proof of Authority model with a permissioned validator set and strict penalties for misbehavior. With backing from major investors and $100M in TVL, it demonstrates a significant level of security and trust within the ecosystem.
