Minting USDnr

USDnr is Nerona's T-Bill-backed stablecoin. Every USDnr in circulation is backed 1:1 by wrapped M (wM), the tokenized short-duration Treasury Bill instrument issued through M0 Protocol. The backing sits with M0 and its T-Bill custody partners; Nerona does not hold the underlying assets.

How to mint

  1. Go to app.nerona.xyz
  2. Connect your wallet (Fluent or Ethereum mainnet)
  3. Approve USDC
  4. Deposit USDC → receive USDnr 1:1

Minting is permissionless. There is no KYC at the protocol level. There are no per-address caps.

Where it lives

USDnr is native to:

  • Fluent mainnet — the home chain for the Nerona stack
  • Ethereum mainnet — for deep liquidity, M0 integration, and the redemption corridor

Balances on each chain are independent. There is no Nerona-native bridge today; standard bridging infrastructure can be used to move USDnr between supported chains where liquidity exists.

What backs it

Every USDnr is collateralized by wM at a 1:1 ratio. wM is M0's onchain representation of short-duration U.S. Treasury Bills, with transparent attestations published by M0. There is no rehypothecation — the T-Bills behind wM are not lent out, borrowed against, or used in any other protocol.

This is the important part: USDnr is not a yield-bearing stablecoin by itself. Holding USDnr does not accrue interest. To earn on your USDnr, you stake it into sUSDnr. See Earning with sUSDnr.

Why we separated the yield layer

Most T-Bill-backed stablecoins pass Treasury yield directly to holders. We chose a two-token structure — USDnr (unit of account) and sUSDnr (yield instrument) — for two reasons:

  1. Clean collateral. USDnr can be used across DeFi, as a settlement asset, or for payments without carrying rebasing or accrual behavior that breaks integrations.
  2. Separable yield sources. T-Bill yield is the floor, not the ceiling. sUSDnr yield is sourced from curated DeFi strategies that can meaningfully outperform T-Bills. Bundling the two would force a compromise on both.

Users who only want T-Bill yield will be served by separate USDnr strategy vaults — see What's Coming.