Nerona USD

Nerona USD is the native dollar of Fluent, an Ethereum layer-two, and doubles as a revenue engine for that chain. Structured on M0's stablecoin infrastructure, USDnr is backed by short-term Treasury bills, and the yield from those reserves accrues to the protocol rather than automatically to every holder; users who want the return can stake into a separate yield-bearing version. Minting is permissionless - deposit USDC and receive USDnr - but there is no direct issuer window to redeem back to fiat for retail, so holders exit through onchain liquidity such as the wrapped-M and USDC pool. Nerona frames itself as onchain wealth management, aggregating DeFi yield behind the token, and Fluent launched with a sizable committed liquidity backstop. It is an early, chain-specific dollar whose fortunes are tied closely to Fluent's own adoption.