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Record sog_st_nearusn
USN/USN
Also recorded as USN, NEAR USN
- Lifecycle
- Inactive
- Issuance
- Terminated
- Reference target
- US dollar
- Primary organization
- Decentral BankNo additional recorded relationship
- Launch
- 2022-04-25
- Redemption
- Terminated
- Backing
- Hybrid or mixed
- Stabilization
- Hybrid
- Last review
- 2026-07-05
- Evidence
- 4 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.NEAR-native stablecoin operated by Decentral Bank, launched in April 2022, shifted to USDT backing in June, and entered a controlled wind-down in October 2022.
| Name | USN |
|---|---|
| Symbol | USN |
| Aliases | USN, NEAR USN |
| Asset class | Stablecoin |
| Lifecycle status | Inactive |
| Issuance status | Terminated |
| Canonical record ID | sog_st_nearusn |
| Route slug | near-usn |
| Record confidence | High |
| Last reviewed | 2026-07-05 |
- Name
- USN
- Symbol
- USN
- Aliases
- USN, NEAR USN
- Asset class
- Stablecoin
- Lifecycle status
- Inactive
- Issuance status
- Terminated
- Canonical record ID
sog_st_nearusn- Route slug
near-usn- Record confidence
- High
- Last reviewed
- 2026-07-05
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 4 |
| Reserve reports | 1 |
| Reserve components | 1 |
| Model-history events | 2 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 5 |
| Events | 3 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- Protocol Governed
- Primary display organization
- Decentral Bank
- Primary display role
- Protocol operator
- Display selection mode
- Deterministic Policy
- Current relationships
- 0
- Ended relationships
- 1
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| Decentral Bank | DAO or governance body | Protocol or decentralized system | Decentralized / NEAR ecosystem | Protocol operator | Primary display | 2022-04-25 | 2022-10-24 | Ended relationship |
DAO or governance body
Primary displayDecentral Bank
- Functional role
- Protocol operator
- Relationship status
- Ended relationship
- Regulatory character
- Protocol or decentralized system
- Jurisdiction
- Decentralized / NEAR ecosystem
- From
- 2022-04-25
- Until
- 2022-10-24
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- Not yet recorded
- Reference methodology
- USN targeted one U.S. dollar.
- Public backing model
- Hybrid or mixed
- Canonical backing types
- Stablecoin Collateral, Crypto Collateral, Mixed
- Reserve component categories
- Other
- Primary stabilization mechanism
- Hybrid
- Recorded model description
- Near and Usdt Reserve Then Usdt Backed V2
- Redemption / exit model
- Terminated
- Valuation source
- Public information is incomplete
- Yield / rebase profile
- None recorded
- Classification notes
- Historical NEAR stable token after minting cessation and controlled wind-down. Final Protection Programme close and residual settlement remain unresolved.
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Historical USDT and NEAR reserve fundOther · Historical reserve context; no assertion about final programme settlement or remaining supply.
| Disclosure status | Historical Official Reserve and Protection Context |
|---|---|
| Backing types | Stablecoin Collateral, Crypto Collateral, Mixed |
| Summary | USN used a NEAR and USDT reserve model at launch, shifted to primary USDT backing, and ended with a protection-program reserve context. |
| As of | 2022-10-24 |
| Profile confidence | High |
- Disclosure status
- Historical Official Reserve and Protection Context
- Backing types
- Stablecoin Collateral, Crypto Collateral, Mixed
- Summary
- USN used a NEAR and USDT reserve model at launch, shifted to primary USDT backing, and ended with a protection-program reserve context.
- As of
- 2022-10-24
- Profile confidence
- High
| Current status | Terminated |
|---|---|
| Settlement asset | Historical Usdt or Protection Program Settlement |
| Eligible parties | Historical USN holders using the Protection Programme, swap tool, or supported market routes. |
| Retail access | Historical Program Based |
| Institutional access | Historical Program Based |
| Minimum amount | Historical route dependent. |
| Fee | Historical programme, swap, network, and liquidity terms applied. |
| Settlement time | Historical programme and liquidity dependent. |
| Regional limits | NEAR, Aurora, programme, interface, and liquidity conditions applied. |
- Current status
- Terminated
- Settlement asset
- Historical Usdt or Protection Program Settlement
- Eligible parties
- Historical USN holders using the Protection Programme, swap tool, or supported market routes.
- Retail access
- Historical Program Based
- Institutional access
- Historical Program Based
- Minimum amount
- Historical route dependent.
- Fee
- Historical programme, swap, network, and liquidity terms applied.
- Settlement time
- Historical programme and liquidity dependent.
- Regional limits
- NEAR, Aurora, programme, interface, and liquidity conditions applied.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| Not yet recorded | Decentral Bank | Historical Reserve and Protection Program Context | Stablecoin Collateral, Crypto Collateral, Mixed | High |
Decentral Bank
Not yet recorded- Type
- Historical Reserve and Protection Program Context
- Assets covered
- Stablecoin Collateral, Crypto Collateral, Mixed
- Record confidence
- High
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NEAR | Specific network recorded | NEP-141 fungible token | Protocol-native or protocol-supported deployment | Protocol Native Token | Terminated | Terminated | No separate change state recorded | Native deployment | Canonicality recorded | Identifier recorded; verification not recorded | Identifier recorded | usn | Not yet recorded | Not yet recorded | 0 | Official launch material identifies the core contract as usn. Minting stopped permanently during the October 2022 wind-down. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| Decentral Bank launches USN Published 2022-04-25 | Decentral Bank / NEAR Protocol | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Launch Date, Identity, Backing, Minting, Launch Identity Reserve and Minting | Archive index or wildcard | High |
| USN v2.0 moves to USDT backing Published 2022-06-30 | Decentral Bank / NEAR Protocol | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Reserve Change, Minting, Redemption, Lifecycle, Reserve Model Transition | Archive index or wildcard | High |
| USN wind down message Published 2022-10-24 | Decentral Bank | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Discontinued Date, Lifecycle, Minting Halt, Redemption, Wind Down Minting Halt and Exit Routes | Archive index or wildcard | High |
| NEAR launches USN Protection Programme Published 2022-10-24 | NEAR Foundation | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Reserve Shortfall, Protection Program, Redemption, Lifecycle, Undercollateralization and Protection Program | Archive index or wildcard | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Final Supply and Residual Market State | Final burned supply, residual circulating tokens, and later market state remain unresolved. | Unknown after review | High | 2026-06-29 |
| Protection Program Terminal Date and Settlement | The final close date, total claims, payout completion, and residual obligations of the Protection Programme are incomplete. | Unknown after review | High | 2026-06-29 |
| Undercollateralization and Final Reserve Reconciliation | The full chronology and final reconciliation of the reserve shortfall remain incomplete. | Unknown after review | High | 2026-06-29 |
| Aurora Representation and Liquidity End State | The complete Aurora representation, bridge, contract, and liquidity end state remains unresolved. | Unknown after review | Medium | 2026-06-29 |
| V1 V2 Contract and Authority History | The complete v1 and v2 contract inventory, upgrade continuity, reserve controls, and shutdown state remain incomplete. | Unknown after review | Medium | 2026-06-29 |
Final Supply and Residual Market State
Final burned supply, residual circulating tokens, and later market state remain unresolved.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-29
Protection Program Terminal Date and Settlement
The final close date, total claims, payout completion, and residual obligations of the Protection Programme are incomplete.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-29
Undercollateralization and Final Reserve Reconciliation
The full chronology and final reconciliation of the reserve shortfall remain incomplete.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-29
Aurora Representation and Liquidity End State
The complete Aurora representation, bridge, contract, and liquidity end state remains unresolved.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-29
V1 V2 Contract and Authority History
The complete v1 and v2 contract inventory, upgrade continuity, reserve controls, and shutdown state remain incomplete.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-29
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
- USN launches on NEARLaunch
- USN v2 shifts to USDT backingReserve Change
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2022-04-25 | USN launches on NEAR | Launch and introduction | Launch | Remained active | Not applicable |
| 2022-06-30 | USN v2 shifts to USDT backing | Governance and protocol change | Protocol Model Update | Remained active | Not applicable |
| 2022-10-24 | USN enters controlled wind-down | Wind-down and termination | Shutdown Effective | Entered wind-down | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.- All stablecoinsCompare this record with the rest of the archive.
- Decentral BankDecentralized / NEAR ecosystem
- Event registry3 connected events recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.