# Proposal to Add USDN Support to the MASP
**URL:** https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871
**Category:** Proposal 🗳️
**Created:** [6 October 2025 06:31 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871 "2025-10-06T06:31:33Z")
**Posts on this page:** 12
**Page:** 1
### Author:  [@Veildev](https://forum.namada.net/u/Veildev)
#### Post date: [6 October 2025 06:31 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/1 "2025-10-06T06:31:34Z")
Hey all!
We propose adding support for USDN (Noble’s native yield-bearing stablecoin) to the MASP!
**TLDR:** USDN is a yield-bearing stablecoin, and is mechanically similar to other productive stable assets that generate yield (short-term U.S. Treasuries). However, as a native IBC-enabled asset, USDN can easily integrate with Namada without a new IBC channel. Supporting USDN would make it the first yield-bearing stable asset in the MASP - enabling real yield on shielded stablecoin deposits and laying the groundwork for future experiments around composable yield and potential revenue sharing models.
**Background**
This idea’s been kicked around in other community spaces (Validator Circle/Bonfire), and people have been really supportive. Posting here so everyone who mainly follows the forum has a chance to weigh-in too.
**Reasoning**
Adding USDN to the MASP introduces the first stable asset to Namada that generates real yield. This marks an important step in expanding the economic functionality of shielded assets beyond simple storage, transfer, or staking. It also opens the door to a potential revenue model for Namada if the protocol were to capturing a portion of the underlying yield. This could also serve as an early framework for other productive assets within the shielded set (something we’ve really enjoyed thinking about!).
**Rationale**
We want to test and validate how yield-bearing assets can function within Namada. Introducing USDN seems like a low-risk, technically straightforward way to explore both composable yield and revenue alignment. It also offers an opportunity to experiment with how users can easily use USDN within Namada, helping identify the most effective ways to integrate productive assets into a shielded experience. Over time, composable yield could also enable new forms of builder creativity - opening the door for applications that leverage private, yield-bearing assets as core building blocks!
_Quick note: If USDN is added to the MASP, it should also be whitelisted for gas (consistent with other supported assets)._
Excited to hear what others think!
Resources:
> **[USDN – Native yielding stablecoin for the modular ecosystem](https://www.noble.xyz/usdn)**
>
> Noble Dollar, issued on Noble. Find out about the market cap on Noble, browse tools & apps, access the most important quick links and read the FAQ. USDN is issued natively on the Interchain with Noble.
> **[Noble Dollar: The dollar that pays you for holding it](https://dollar.noble.xyz/how-noble-dollar-works)**
>
> Noble Dollar is built leveraging M^0 stablecoin issuance infrastructure, purpose-built for the modular ecosystem.
> **[Noble launches yield-bearing USDN stablecoin](https://blockworks.co/news/noble-yield-bearing-stablecoin)**
>
> USDN lets apps and rollups distribute the underlying T-bill yield to users.
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### Author:  [@Gavin](https://forum.namada.net/u/Gavin)
#### Post date: [6 October 2025 18:55 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/2 "2025-10-06T18:55:08Z")
awesome!
speaking for Knowable, we’re excited about this–it could be complementary revenue to fee capture. If we take fees when shielded pool assets come and go, we could also potentially take fees on yield.
our impression is that participants of the recent Bonfire and Validator Circle discussions are supportive of advancing USDN support.
Knowable has been testing USDN on Housefire testnet, and things look good to go to whitelist USDN on Namada mainnet.
thank you @Veildev 🙌
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### Author:  [@Daniel](https://forum.namada.net/u/Daniel)
#### Post date: [7 October 2025 17:19 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/3 "2025-10-07T17:19:35Z")
We support the proposal.
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### Author:  [@preto](https://forum.namada.net/u/preto)
#### Post date: [7 October 2025 19:55 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/4 "2025-10-07T19:55:18Z")
Maybe I’m being dense here, but how exactly does this work? Would your usdn balance on Namada increase as yield is paid? Is this even technically possible? I’m missing details of exact mechanism in proposal and in the links supplied. (not looking to shut this down, but curious exactly how/where this yield is paid)
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### Author:  [@shurinov](https://forum.namada.net/u/shurinov)
#### Post date: [9 October 2025 13:15 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/5 "2025-10-09T13:15:42Z")
I support this proposal. I also haven’t quite figured out the mechanism for calculating interest in USDN and how it will work with IBC transfers. But I am confident in the team’s vision. If someone could describe the detailed mechanism, explaining at what stages USDN rewards are calculated, that would be great
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### Author:  [@Gavin](https://forum.namada.net/u/Gavin)
#### Post date: [10 October 2025 14:16 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/6 "2025-10-10T14:16:05Z")
good question! i asked Heliax about this, and my understanding is that depositors will get shielded set rewards in NAM, and the Namada PGF address will get the USDN yield
the first step is to enable USDN and then see if we can get a product flow that makes it easy to use
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### Author:  [@Daniel](https://forum.namada.net/u/Daniel)
#### Post date: [20 October 2025 04:13 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/7 "2025-10-20T04:13:30Z")
âś… Hashes match on both governance proposal (#33) and [namada-governance-upgrades](https://github.com/namada-net/namada-governance-upgrades/commit/3a4a42da8bb230678b9396daa77c5eef97704d96) repository.
```auto
Data: Hash: B03AF811B89788007959A66B9E8547D576D66ADB8172FCD10A3B2B923CDF6D0B
```
```auto
sha256sum phase3.wasm
b03af811b89788007959a66b9e8547d576d66adb8172fcd10a3b2b923cdf6d0b phase3.wasm
```
---
### Author:  [@shurinov](https://forum.namada.net/u/shurinov)
#### Post date: [20 October 2025 06:35 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/8 "2025-10-20T06:35:56Z")
Wasm checked. Proposal 33 voted yay
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### Author:  [@BidurS](https://forum.namada.net/u/BidurS)
#### Post date: [21 October 2025 20:45 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/9 "2025-10-21T20:45:42Z")
Votes yes too, small amount but participating in gov.
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### Author:  [@freQniK](https://forum.namada.net/u/freQniK)
#### Post date: [22 October 2025 03:46 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/10 "2025-10-22T03:46:58Z")
Voted yay as it sounds interesting though I have not personally done anything with USDN, might give good exposure to the asset.
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### Author:  [@preto](https://forum.namada.net/u/preto)
#### Post date: [22 October 2025 11:22 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/11 "2025-10-22T11:22:50Z")
I’m not sure I understand the attraction from the user pov if the USDN native yield is forfeited when shielding. Though I don’t mind having as many assets as possible in the masp.
---
### Author:  [@Gavin](https://forum.namada.net/u/Gavin)
#### Post date: [27 October 2025 18:15 UTC](https://forum.namada.net/t/proposal-to-add-usdn-support-to-the-masp/1871/12 "2025-10-27T18:15:52Z")
agreed
feels like there’s outstanding work to be to done to align user interests with Namada network interests, for a USDN-based product to succeed