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Noble
Noble
Noble is a Cosmos-based application-specific blockchain (appchain) designed for native asset issuance and interoperability across the Inter-Blockchain Communication (IBC) ecosystem. It functions as a neutral infrastructure platform that enables stablecoin issuers and other asset creators to mint and distribute their tokens directly to applications and users on connected blockchains, aiming to reduce reliance on third-party bridges and solve liquidity fragmentation. [8]
Overview
Noble is a Cosmos-based app chain designed for native asset issuance across the Inter-Blockchain Communication (IBC) network. It supports standardized token management features, including minting, burning, and issuer-controlled restrictions on specific addresses. The project underwent development with partners such as StrangeLove Labs, and its codebase was audited by Oak Security to address reliability issues before launch.
Noble’s mainnet launched in March 2023, using a Proof of Authority consensus mechanism with a trusted subset of Cosmos Hub validators. Security is based on enforced validator accountability and on-chain fees generated by assets issued on Noble. As part of launch activities, Noble distributed a limited amount of FRNZ tokens through Cosmos decentralized exchanges and airdropped micro-frienzies to axlUSDC holders across multiple chains. These tokens did not grant governance or staking rights and were temporarily redeemable for campaign-related items such as NFTs and digital accessories. [1]
Products
Noble Points
Noble Points is a rewards system connected to USDN, a yield-bearing stablecoin backed by short-term U.S. Treasury bills and issued through Noble. The program allows users to deposit USDN into two vaults: a points vault, where they forgo normal yield in exchange for accumulating points based on deposit size and duration, and a boosted yield vault, where they earn additional yield without accruing points. Additional incentives are based on USDN’s total value locked, and campaign terms have been updated over time, including extended timelines and increased multipliers. Points earned in the program are planned to convert into token allocations, and subsequent seasons will retain fixed allocations for early participants while adding managed vault strategies tied to USDN integrations across new applications and chains. [10] [11]
Noble Express
Noble Express is a service that moves natively issued USDC across blockchain networks using a combination of Circle’s CCTP infrastructure and the IBC protocol. It uses burning-and-minting mechanics for Ethereum-aligned chains and non-custodial IBC transfers for Cosmos appchains, with routing tools that streamline multi-hop transactions, allowing users to select their source and destination chains and complete transfers in a single action. The service displays any network-level transaction fees but does not add its own charges, and currently focuses exclusively on USDC support. It connects major CCTP-enabled networks like Ethereum, Arbitrum, and Base with more than 40 Cosmos chains, with plans to expand as Cosmos and modular ecosystems grow. [9]
Orbiter
Noble’s Orbiter is a middleware system designed to simplify cross-chain transactions by automating complex bridging processes. Instead of requiring users or developers to manually coordinate between different bridge protocols, Orbiter allows them to specify an intended outcome—such as transferring, swapping, or off-ramping assets—and handles the routing, execution, and forwarding automatically through protocols like IBC, CCTP, and Hyperlane. It converts multi-step workflows, including cross-chain swaps or fiat conversions, into single transactions, reducing friction for both users and applications.
Operating on the Noble blockchain, Orbiter processes incoming transfers with embedded instructions, executes pre-actions such as fee payments or swaps, and forwards tokens to their destination using the optimal bridge path. It consists of four core components—Adapter, Executor, Forwarder, and Dispatcher—that collectively parse, execute, and route transactions. Introduced in Noble’s v11 Flux release, Orbiter currently supports IBC inbound and CCTP outbound transfers, with plans to expand to full Hyperlane integration, swap functionality, and additional routing features in future versions. [12]
Noble Dollar (USDN)
USDN is a stablecoin issued by Noble and backed by short-term U.S. Treasury bills via the M0 protocol on Ethereum. It is designed so holders can claim the yield generated by the underlying collateral, using a rebasing mechanism in which rewards accumulate over time and must be claimed manually. USDN is created by locking M0’s collateralized token ($M) on Ethereum and minting USDN on Noble through a cross-chain bridge.
The stablecoin allows developers or integrators to decide how rewards are used in their own applications or networks. This programmability enables different approaches to distributing yield, such as directing it to users, infrastructure providers, validation systems, or other stakeholders. Collateralization is managed through regulated partners that maintain reserves in liquid real-world assets such as Treasury bills.
Alongside the launch, Noble introduced optional vault programs. One vault offers a points-based incentive system where users forgo normal yield to accumulate points, while another vault provides boosted yield reflecting unused rewards. Rewards and participation terms can change over time based on program conditions. [4] [5] [7]
Noble USDC
Noble USDC refers to the native issuance of the USDC stablecoin on Noble for use across the Inter-Blockchain Communication (IBC) ecosystem. This integration aims to provide Cosmos networks with a fully collateralized, fiat-backed stablecoin that does not rely on third-party bridges, addressing fragmentation caused by multiple non-fungible versions of USDC circulating across different chains. Noble issues USDC directly and uses routing infrastructure to ensure that transfers between IBC-connected blockchains preserve fungibility and reduce user-side friction. The initiative followed the recognition of the need for a trusted stablecoin in Cosmos after earlier ecosystem instability, and it positions Noble as a hub for asset issuance and transfer within IBC-enabled environments. [3]
Governance
Noble’s governance is managed through an Authority module controlled by the Noble Maintenance Multisig (NMM), a multisignature group responsible for key operational functions. The NMM can initiate chain upgrades, adjust protocol parameters without requiring a binary update, and manage Inter-Blockchain Communication (IBC) connections, including re-establishing or severing links as needed. The NMM operates as a 5-of-7 multisig, including the Noble organization and core validator partners, with geographic diversity across Switzerland, Korea, and the USA. Members can be rotated over time, and validators retain discretionary authority during chain upgrades, ensuring both operational control and network resilience. [6]
Funding
On November 19, 2024, Noble announced that it had completed a $15 million Series A funding round led by Paradigm, with additional participation from Polychain, Foresight Ventures, Wintermute Ventures, Informal Systems, and other contributors. The company had launched roughly a year earlier and positioned itself as an asset issuance platform supporting stablecoins across appchains, facilitating more than $5 billion in volume and over $450 million in assets issued during its first year. [2]
Partnerships
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