BlackOpal LiquidStone II
Highest TVL
Payment financing
Audited
Vault APY
The annualized yield based on how much the vault share price changed over the last 30 days.
Formula
= current vault share price (NAV per share)
= vault share price 30 days ago
This is a rolling metric and updates daily.
TVL
$68.4M
Available networks
About
The vault takes stablecoin deposits and allocates them into tokenized exposure to BlackOpal’s LiquidStone II fund, which invests in FX-hedged, short-dated Brazilian credit card receivables for yield g...Read more
Hourly on Weekdays
Supported apps
Yield type
Security reviews
Redemption fees
No. of holders
3,090
How the price grows
Yield is automatically reinvested and reflected in growing token price
$1.0867
+$0.056473 (+5.48% or 11.43% APY) in the last 6MWho it's designed for
1
Short-duration credit income
Earn yield from short-term payment financing and receivables-based credit strategies.
2
Income with faster turnover
Access credit strategies with shorter duration and frequent cash flow generation.
3
RWA yield diversification
Complement other vaults with consumer and payment-driven real-world credit exposure.
Payment financing
The allocation emphasizes short-duration receivables and payment financing assets to generate frequent, contract-based cash flows. This structure supports consistent income while limiting long-term exposure to interest rate and duration risk.
Yield by world-class operators
Payment financing
95.02%
Short-term cash advances
US Treasuries
3.03%
Short-term U.S. government debt
Liquid assets
1.95%
Uninvested stablecoin liquidity
All yield assets live on Plume Network
Nest is built by the Plume team and runs natively on Plume Network, a real-world-asset blockchain that serves as the settlement layer to ensure institutional-grade security, regulatory alignment, and scalable settlement.
Ecosystem
Use this token across supported apps for additional yield
App name | Network | Type |
|---|---|---|
Mystic | Plume | Lending |
Rooster | Plume | DEX |
Pendle | Ethereum | Yield |
Plume Loop and Borrow Powered by Morpho | Plume | Lending, Looping |
Audits & Security
Nest is designed to meet the highest standards of safety, transparency, and compliance
Frequently asked questions
Vaults earn yield from real-world assets. The rate of return depends on the income produced by those assets (e.g., interest, royalties, lease payments).
Yield is not guaranteed. Past performance does not guarantee future results.
Learn moreWhen you mint, you deposit stablecoins and receive vault tokens representing your share of the vault. Yield is reflected in the vault token price over time. When you redeem, you return vault tokens and receive stablecoins based on the current NAV. Redemption times depend on liquidity conditions. While redemptions can take up to 7 days, the average redemption time is around 30 minutes.
Learn moreKey risks include: credit risk from underlying assets, liquidity risk during redemptions, smart contract risk, and market risk affecting asset valuations. This is not a bank deposit and is not FDIC insured. You could lose some or all of your initially deposited stablecoins.
Learn moreThe vault token price (equivalant to NAV per share in traditional funds) changes over time as the value of the underlying assets changes and yield accrues. You do not need to claim or restake for performance to be reflected in the token price. The token price reflects the total value of assets divided by tokens outstanding.
Learn moreYes. The vault smart contracts have been audited by leading security firms including Macro, Pashov, and Spearbit. Audit reports are available in the Security section. However, audits do not guarantee the absence of all vulnerabilities.
Learn moreYes, vault tokens are standard ERC-20 tokens that can be used across DeFi. You can provide liquidity, use it as collateral on supported lending platforms, or transfer to other wallets.
Still have a question? Join our Discord
Balances
Total balance
Avg. APY
Total earnings
Recent activity
Underlying assets on-chain
Asset
APY
Weight
TVL
Asset
Network
TVL
Allocation
Contract
LiquidStone II
Plume
$37,430,967.00
57.6%
0x04...1c06
LiquidStone II
Ethereum
$27,554,070.27
42.4%
0xe5...5008
Total
$64,985,037.28
100.0%
nTBILL
US Treasuries
3.03%
$2,074,572.07
Asset
Network
TVL
Allocation
Contract
nTBILL
Plume
$2,074,572.07
100.0%
0xe7...8cb9
Total
$2,074,572.07
100.0%
Liquid assets
1.95%
$1,334,430.12
Asset allocation over time
No. of assets
2
Aug 15, 2026
LiquidStone II
96.9%
nTBILL
3.1%
How BlackOpal LiquidStone II works
nOPAL provides exposure to BlackOpal LiquidStone II, a fund that combines Brazilian credit card receivables with a liquid USCC allocation. Receivables generate yield from short-duration payment financing, while USCC provides a liquidity buffer to enable timely redemption settlement.
1
Brazilian card payments
Many Brazilian card purchases are paid in installments. BlackOpal gives merchants cash upfront at a discount and receives those future card payments as they settle.
2
Recorded payment rights
Receivables are registered in BlackOpal's name in Brazil's Central Bank-mandated receivables registry, enabling collection to flow automatically through payment networks without requiring merchant cooperation.
3
Built for yield and liquidity
The fund targets a 50/50 mix: Brazilian receivables for higher yield and USCC for more liquidity. Receivables are typically paid over about 30-45 days, while USCC acts as the liquidity buffer.
Structure and custody
Fund
LiquidStone II
Assets quality
Manager
BlackOpal
Assets onchain
Risk rating
Baa3 by Cicada Partners
Legal structure
Nest DAO LLC is a corporate entity in Republic of the Marshall Islands (RMI) with an international investment business license and an LEI number 254900BB9T1QYAT04892, which can be found on GLEIF:
https://search.gleif.org/#/record/254900BB9T1QYAT04892Administrator
Agio Fund Services
Compliance & AML
Asset issuers
Superstate, BlackOpal
Auditor
0xMacro, Spearbit, Pashov
How the price grows
Yield is automatically reinvested and reflected in growing token price
Current token price
$1.0867
Total Value Locked TVL
Based on live onchain token price and supply
Current TVL
$0.00
Vault activity
No. of transactions
in the last 7 days
Type | Wallet | Amount |
|---|---|---|
Mint Aug 15, 2026, 3:42 PM | 0x6573...ff1346 | +2,629.91 +$0.00 |
Redemption Claimed Aug 15, 2026, 3:32 PM | 0x553f...112771 | -4.63 -$0.00 |
Redeem Requested Aug 15, 2026, 3:19 PM | 0x1ded...fa3986 | -13.08 -$0.00 |
Redeem Requested Aug 15, 2026, 3:14 PM | 0xc88b...d50d9b | -1,388.90 -$0.00 |
Mint Aug 15, 2026, 3:06 PM | 0x835a...cb86c5 | +920.23 +$0.00 |
Redemption Claimed Aug 15, 2026, 3:03 PM | 0x80ec...6e0fcd | -32,580.53 -$0.00 |
Redeem Fulfilled Aug 15, 2026, 3:03 PM | 0x80ec...6e0fcd | -32,580.53 -$0.00 |
Redeem Requested Aug 15, 2026, 3:03 PM | 0x80ec...6e0fcd | -32,580.53 -$0.00 |
Redeem Fulfilled Aug 15, 2026, 3:03 PM | 0x6eb9...7920ff | -273.84 -$0.00 |
Mint Aug 15, 2026, 2:51 PM | 0xce4e...ecf050 | +92,023.83 +$0.00 |
Token token holders
No. of wallets
3,090
Holder | Balance | Holder since |
|---|---|---|
1 E3...gp | 11,064,961.02 Token $0.00 | 13 Jun 2026 |
2 E3...gp | 11,064,961.02 Token $0.00 | 13 Jun 2026 |
3 0x...db | 6,699,097.08 Token $0.00 | 19 Nov 2025 |
4 0x...86 | 4,810,453.72 Token $0.00 | 19 May 2026 |
5 0x...c1 | 4,638,455.58 Token $0.00 | 20 Jul 2026 |
How to think about the risks
nOPAL focuses on short-duration credit, where performance depends on borrower behavior and the consistency of receivables-based cash flows.
Underlying risks
nOPAL is exposed to short-duration credit and receivables-based assets, where performance depends on borrower repayment behavior and servicing efficiency. Risks may include credit defaults, geographic or consumer concentration, and operational risks within payment and receivables platforms. Local economic conditions and regulatory changes may also affect cash flow reliability.
Yes
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No
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Yes