Nest Treasury VaultPrice

(NTBILL)

nTBILL is the flagship "vault receipt" token of the Nest protocol, acting as a core Real-World Asset (RWA) staking product on the Plume Network. As an ERC-20 token, it represents a user's deposit in the Nest Treasury Vault, providing direct on-chain exposure to a diversified portfolio of short-term US Treasury bills. It is designed to bridge traditional institutional finance with the blockchain ecosystem, allowing users to hold a digital representation of government-backed debt.

Nest provides multiple vaults categorized by their risk and yield profiles. nTBILL is the conservative option, primarily backed by US Treasuries. In contrast, nALPHA is an aggressive vault backed by private credit and ETFs for those seeking higher returns. There is also nBASIS, which offers a moderate risk profile by utilizing delta-neutral crypto and treasury strategies. This allows users to select a token that matches their specific financial strategy and risk tolerance.

The base yield for nTBILL typically ranges from 5.5% to 6%, tracking the returns of institutional US Treasuries. This yield is reflected in the token's value as interest accrues. Beyond the base rate, users can participate in loyalty campaigns to earn Plume Nest Points (PNP). These points reward active participants and are supported by a dedicated portion of the network's token supply, potentially increasing the effective yield through multipliers and ecosystem incentives.

A key feature of the Nest protocol is the lack of a mandatory KYC process for the end-user. To maintain regulatory standards, compliance and AML screenings are integrated at the sequencer level of the Plume Network. This ensures a seamless experience for global users, though restrictions still apply to individuals located in the United States or OFAC-sanctioned regions.

Users typically bridge stablecoins such as USDT or USDC to the Plume Network via an official bridge, then swap them for pUSD to mint nTBILL. While the process is permissionless, redemptions are subject to a liquidity window. Because nTBILL is backed by real-world assets, the protocol requires approximately 1 to 3 business days to liquidate the underlying treasuries and return stablecoins to the user.

The underlying assets are managed in collaboration with regulated, institutional-grade partners like Anemoy and Mountain Protocol. To ensure smart contract security, the protocol has undergone rigorous audits by leading firms such as Pashov and Macro. Additionally, the underlying credit risk of the portfolio is assessed by Cicada Partners, providing an extra layer of transparency and safety for participants.