snUSD

snUSD is the share token for Nest's nUSD staking pool. You receive snUSD when you stake nUSD and burn snUSD when you unstake.

Shares, not a rebasing balance

Your snUSD token balance does not increase every time the pool earns revenue. Instead, each share can become redeemable for more nUSD as accounted staking assets grow.

nUSD value = your snUSD shares × redeemable pool assets / total snUSD shares

Because the exchange rate can change, the amount of snUSD received for 100 nUSD is not guaranteed to remain exactly 100 forever.

Stake nUSD

The app quotes the minimum snUSD shares you should receive, then submits the stake transaction. Revenue that has not finished vesting is not treated as immediately redeemable value.

Unstake immediately

There is no seven-day snUSD withdrawal timer. Unstaking burns the selected snUSD shares and returns nUSD in the same transaction, after an exit fee equal to one day of growth at the current target APR.

At a 6% target APR, that fee is approximately 0.01644% of the gross nUSD value. The fee is burned. The current target APR and exact quote should always be read from the app before signing.