SMARDEX USDN (USDN) stablecoin analytics
USDN is SMARDEX's wstETH-backed synthetic dollar, held near $1 by protocol long-side mechanics targeting delta-neutral exposure on a two-step oracle flow.
Static Profile
Static stablecoin profile
SMARDEX USDN (USDN) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated May 15, 2026
SMARDEX USDN is an Ethereum CDP synthetic dollar backed by a wstETH-centered delta-neutral vault, unrelated to Noble USDN or Neutrino USDN. SMARDEX USDN is unrelated to Noble USDN and the old Neutrino USDN. It is an Ethereum synthetic dollar backed by the USDN vault and...
AI summary · drafted by claude-opus-4-7 · reviewed by @TokenBrice on May 15, 2026 · facts as of May 15, 2026
- Collateral
- Synthetic dollar backed by the SMARDEX USDN vault, initially using wstETH as the underlying asset and protocol long-side mechanics to target delta-neutral exposure
- Peg Mechanism
- Users mint USDN by depositing supported underlying assets into the USDN vault and redeem by burning USDN for the corresponding underlying asset value. Mint and redemption flows can be temporarily restricted by protocol imbalance and use a two-step oracle validation flow.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Ethereum.
Snippet Answer
Is USDN safe?
Pharos does not mark USDN as absolutely safe. Static metadata says SMARDEX USDN uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze or administrative control exposure is possible but not fully confirmed. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usdn-smardex
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated May 15, 2026.
USDN quick answers
What is SMARDEX USDN (USDN)?
USDN is SMARDEX's wstETH-backed synthetic dollar, held near $1 by protocol long-side mechanics targeting delta-neutral exposure on a two-step oracle flow. The static profile records its US Dollar peg mechanism as: Users mint USDN by depositing supported underlying assets into the USDN vault and redeem by burning USDN for the corresponding underlying asset value. Mint and redemption flows can be temporarily restricted by protocol imbalance and use a...
What backs USDN?
Pharos classifies USDN backing as Crypto-Collateralized. Collateral, per the static profile: Synthetic dollar backed by the SMARDEX USDN vault, initially using wstETH as the underlying asset and protocol long-side mechanics to target delta-neutral exposure Reserve evidence: live reserve feed configured.
Can USDN be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze or administrative control exposure is possible but not fully confirmed. Live freeze and blacklist events for USDN, when applicable, appear in the dossier below.