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Record sog_st_nuon

NUONNuon

Also recorded as Nuon, NUON, Nuon Flatcoin

Active

Lifecycle: Active
Issuance: Restricted
Reference target: US dollar with Truflation-linked rebase
Primary organization: Nuon FinanceNo additional recorded relationship
Launch: 2023-02-02
Redemption: Protocol Redemption
Backing: Hybrid or mixed
Stabilization: Hybrid
Last review: 2026-06-23
Evidence: 12 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

Inflation-linked stable-value asset with a 2023 Arbitrum v1 CDP launch and a substantially redesigned 2025 Base v2 protocol. Current v2 NUON is minted 1:1 from USDC and distributes Truflation-referenced yield through positive rebasing.

Name	Nuon
Symbol	NUON
Aliases	Nuon, NUON, Nuon Flatcoin
Asset class	Experimental Stabilization Asset
Lifecycle status	Active
Issuance status	Restricted
Canonical record ID	`sog_st_nuon`
Route slug	`nuon`
Record confidence	Medium
Last reviewed	2026-06-23

Name: Nuon
Symbol: NUON
Aliases: Nuon, NUON, Nuon Flatcoin
Asset class: Experimental Stabilization Asset
Lifecycle status: Active
Issuance status: Restricted
Canonical record ID: sog_st_nuon
Route slug: nuon
Record confidence: Medium
Last reviewed: 2026-06-23

Record coverage

Section	Entries
Organizations	1
Sources	12
Reserve reports	1
Reserve components	2
Model-history events	1
Regulatory notes	0
Deployments	2
Issuer-control actions	0
Open questions	2
Events	3

Organizations and control

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: Hybrid
Primary display organization: Nuon Finance
Primary display role: Protocol operator
Display selection mode: Deterministic Policy
Current relationships: 1
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 2 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 2 not recorded
Deployment control-event references: 3
Observed issuer-control events: 0
Relationship coverage: 1 recorded relationship

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
Nuon Finance	Company or corporate group	Not recorded in canonical data	Unknown or not publicly resolved	Protocol operator	Primary display	Not yet recorded	Not yet recorded	Active relationship

Company or corporate group

Nuon Finance

Primary display

Functional role: Protocol operator
Relationship status: Active relationship
Regulatory character: Not recorded in canonical data
Jurisdiction: Unknown or not publicly resolved
From: Not recorded
Until: Not recorded

Mechanism

How the asset works

Reference, backing, stabilization, exit, valuation, and yield remain separate facts.

Reference target: US dollar with Truflation-linked rebase
Reference kind: Fiat
Comparison category: Indexed or inflation-linked target
Target value: 1
Reference methodology: NUON is minted 1:1 from USDC while positive rebasing distributes Truflation-referenced yield.
Public backing model: Hybrid or mixed
Canonical backing types: Stablecoin Collateral, Tokenized Fund, Mixed
Reserve component categories: Stablecoin Collateral, Tokenized Fund
Primary stabilization mechanism: Hybrid
Recorded model description: Usdc Treasury and DeFi Yield Strategies
Redemption / exit model: Protocol Redemption
Valuation source: Truflation CPI feed and protocol accounting
Yield / rebase profile: Rebasing · Accrual: Asset
Classification notes: Combines a 1:1 USDC mint basis with inflation-linked positive rebasing and separate strategy-risk layers.

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

Stablecoin collateralStablecoin Collateral
Tokenized fund or RWA collateralTokenized Fund

Reserve profile

Disclosure status	Protocol Disclosure Available
Backing types	Stablecoin Collateral, Tokenized Fund, Mixed
Summary	Nuon documentation describes USDC deposits into a treasury and DeFi strategy allocation, with MaxCap acting as a risk-bearing layer. Complete current strategy allocation and capacity require ongoing source review.
As of	2026-06-14
Profile confidence	Medium

Disclosure status: Protocol Disclosure Available
Backing types: Stablecoin Collateral, Tokenized Fund, Mixed
Summary: Nuon documentation describes USDC deposits into a treasury and DeFi strategy allocation, with MaxCap acting as a risk-bearing layer. Complete current strategy allocation and capacity require ongoing source review.
As of: 2026-06-14
Profile confidence: Medium

Redemption profile

Current status	Restricted
Settlement asset	USDC or protocol/market exit subject to current contracts
Eligible parties	Eligible users meeting Nuon jurisdiction and interface requirements.
Retail access	Restricted Protocol Access
Institutional access	Restricted Protocol Access
Minimum amount	Protocol- and interface-dependent.
Fee	Strategy, staking, wrapping, liquidity, gas, and protocol costs may apply.
Settlement time	Base network and protocol processing apply.
Regional limits	U.S. persons are restricted., Documentation also identifies UK, China, sanctioned jurisdictions, and other prohibited locations.

Current status: Restricted
Settlement asset: USDC or protocol/market exit subject to current contracts
Eligible parties: Eligible users meeting Nuon jurisdiction and interface requirements.
Retail access: Restricted Protocol Access
Institutional access: Restricted Protocol Access
Minimum amount: Protocol- and interface-dependent.
Fee: Strategy, staking, wrapping, liquidity, gas, and protocol costs may apply.
Settlement time: Base network and protocol processing apply.
Regional limits: U.S. persons are restricted., Documentation also identifies UK, China, sanctioned jurisdictions, and other prohibited locations.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
Not yet recorded	Nuon	Protocol Treasury and Collateral Disclosure	Stablecoin Collateral, Tokenized Fund, Treasury Assets	High

Nuon

Not yet recorded

Type: Protocol Treasury and Collateral Disclosure
Assets covered: Stablecoin Collateral, Tokenized Fund, Treasury Assets
Record confidence: High

Deployments and legal context

Network state, contract identity, legal notices, and value states remain separate.

Blockchain deployments

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
Base	Specific network recorded	Not yet recorded	Canonical or native issuance	Native	Active	Active	No separate change state recorded	Native deployment	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0x843AFb8f37f897b4F9c7967674f76e3EECFCE100	Not yet recorded	Not yet recorded	2	Current Nuon v2 native deployment on Base. It uses a different contract and architecture from the 2023 Arbitrum v1 deployment; holder migration is not inferred.
Arbitrum One	Specific network recorded	ERC-20	Historical or legacy deployment	Legacy Native	Unknown or unresolved	Unknown after review	No separate change state recorded	Legacy deployment	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0xfb9Fed8cB962548A11fE7F6F282949061395c7F5	Not yet recorded	Not yet recorded	1	Nuon v1 token deployed on Arbitrum. The current operational, redemption, and holder-migration status is not established by first-party transition documentation.

Regulatory and official notices

Date	Title	Authority / publisher	Type	Summary
No regulatory notes have been added yet.

No regulatory notes have been added yet.

Evidence

Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.

12 source identities · 12 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
Nuon stablecoin overview Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon USD Mint Inflation Yield Rebase and Base Deployment	No archive recorded	High
Minting Nuon Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon Usdc Mint and Positive Rebase Mechanics	No archive recorded	High
Nuon token contracts Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon Base Contract and Related Token Addresses	No archive recorded	High
Nuon guarded launch Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon V2 Guarded Launch and Maxcap Distribution	No archive recorded	Medium
Nuon investment disclaimer Published Not yet recorded	Nuon	Legal terms or disclosure Canonical: Legal Terms	Subject-controlled source	Primary source	Nuon Jurisdiction and Eligibility Restrictions	Direct archived snapshot	High
Nuon v2 whitepaper overview Published Not yet recorded	Nuon	Technical documentation or repository Canonical: Whitepaper	Subject-controlled source	Primary source	Nuon Treasury Yield and Flatcoin Design	No archive recorded	High
MaxCap token Published Not yet recorded	Nuon	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Nuon Risk Bearing Governance and Strategy Layer	No archive recorded	High
Nuon Protocol Guarded Mainnet Launch - Release Note & FAQs Published 2023-02-01	Nuon	Official statement or announcement Canonical: Official Protocol Announcement	Subject-controlled source	Primary source	Launch Date, V1, Arbitrum, Guarded Launch, V1 Arbitrum Guarded Mainnet Launch	Archive index or wildcard	High
NUON token on Arbitrum One Published Not yet recorded	Arbiscan	On-chain record or explorer Canonical: Onchain Explorer	Technical primary source	Primary source	V1 Contract, Arbitrum, Token Identity, V1 Arbitrum Token Contract	Archive index or wildcard	Medium
Nuon v2 is now Open Published 2025-03-03	Nuon	Official statement or announcement Canonical: Official Protocol Announcement	Subject-controlled source	Primary source	V2 Public Launch, Base, Usdc Minting, Staking, V2 Base Public Launch	Archive index or wildcard	High
Nuon v2 Whitepaper Introduction Published Not yet recorded	Nuon	Technical documentation or repository Canonical: Official Whitepaper	Subject-controlled source	Primary source	V1 Cdp Model, V2 Rebase Model, Version Transition, V1 V2 Architecture Difference	Archive index or wildcard	High
Nuon v2 Guarded Launch Opens to Truflation Community Published 2025-02-28	Nuon	Official statement or announcement Canonical: Official Protocol Announcement	Subject-controlled source	Primary source	V2 Guarded Launch, Base, Restricted Access, V2 Guarded Launch Phase	Archive index or wildcard	High

Known unknowns

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
Version Transition and V1 Holder Treatment	Nuon v1 launched on Arbitrum in 2023 and Nuon v2 opened on Base in 2025 with a different contract and architecture. No first-party source recovered in this review establishes a token swap, holder migration, v1 redemption path, or definitive v1 shutdown date.	Unknown after review	High	2026-06-23
Treasury Strategy and Redemption	Current strategy allocations, liquidity buffers, capacity, and direct exit path are not yet independently normalized.	Unknown after review	High	2026-06-14

Version Transition and V1 Holder Treatment

Nuon v1 launched on Arbitrum in 2023 and Nuon v2 opened on Base in 2025 with a different contract and architecture. No first-party source recovered in this review establishes a token swap, holder migration, v1 redemption path, or definitive v1 shutdown date.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-23

Treasury Strategy and Redemption

Current strategy allocations, liquidity buffers, capacity, and direct exit path are not yet independently normalized.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-14

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

2025-03-03Nuon v2 opens publicly on BaseMigration

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2023-02-02	Nuon v1 launches on Arbitrum mainnet	Launch and introduction	Launch	Remained active	Not applicable
2025-02-28	Nuon v2 guarded launch opens to selected community users	Launch and introduction	Restricted V2 Launch Phase	Restricted or impaired	Not applicable
2025-03-03	Nuon v2 opens publicly on Base	Launch and introduction	Protocol V2 Public Launch	Remained active	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.