nALPHA, issued by the Nest Protocol smart contracts under the governance of a Marshall Islands DAO LLC, is a tokenized-fund receipt token that represents a share of a non-custodial vault allocating capital to diversified real-world assets [S1][S2].

Holders of nALPHA receive economic exposure to a diversified real-world asset index spanning private credit, structured products, income funds, and payment and receivables financing, sourced from institutional partners including BlackRock, Superstate, Centrifuge, WisdomTree, and Blackopal [S3][S4][S5]. The vault is total-return and NAV-accruing: dividends and yield channel back into the vault, increasing token value proportionally with no separate distributions [S1][S5]. Deposits bear no management, minting, or subscription fees [S6].

nALPHA is issued through Nest DAO LLC, a Republic of the Marshall Islands non-profit DAO LLC under the Marshall Islands DAO Act of 2022, and is not issued by a single corporate entity, with the protocol developed by Kimber Labs Inc. (d/b/a Plume Network Inc.) [S2][S7]. The holder's claim is an ERC-20 receipt token representing deposited assets [S1][S2]. Access is permissionless with no KYC, gated by onchain AML screening that excludes the United States and FATF high-risk jurisdictions [S8][S9]. Holders redeem by burning the token, settling in pUSD; assets and cash are held by third-party custodians such as BNY Mellon, never Nest [S6][S5].

nALPHA follows the ERC-20 standard, issued natively on Solana and distributed across EVM chains via LayerZero Omnichain Fungible Token messaging, with Plume Network as the primary settlement layer [S1][S10]. Users deposit pUSD to mint and burn to redeem, either instantly with a 0.1% to 0.5% liquidity fee or via a yield-accruing queue [S6][S11]. NAV publishes hourly with bounded price limits [S12].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://docs.nest.credit/support/glossary" },
    { id: "S2", url: "https://docs.nest.credit/security-and-compliance/terms-and-conditions" },
    { id: "S3", url: "https://docs.nest.credit/about/asset-classes" },
    { id: "S4", url: "https://docs.nest.credit/about/asset-selection" },
    { id: "S5", url: "https://docs.nest.credit/security-and-compliance/flow-of-funds" },
    { id: "S6", url: "https://docs.nest.credit/introduction/how-to-use-nest" },
    { id: "S7", url: "https://docs.nest.credit/" },
    { id: "S8", url: "https://docs.nest.credit/security-and-compliance/aml" },
    { id: "S9", url: "https://docs.nest.credit/security-and-compliance/geographic-restrictions" },
    { id: "S10", url: "https://docs.nest.credit/about/cross-chain" },
    { id: "S11", url: "https://docs.nest.credit/about/liquidity-and-redemptions" },
    { id: "S12", url: "https://docs.nest.credit/about/vaults" },
  ]}
/>


Tokenized funds

Users deposit stablecoins into Plume Vaults and receive ERC-20 vault tokens whose NAV appreciates as the underlying yield strategy accrues. Fund managers and institutional partners (BlackRock, Apollo, WisdomTree, Hamilton Lane, Goldfinch) curate the strategies.

Plume Vaults operates a suite of yield-bearing vault tokens (nTBILL, nALPHA, nBASIS, nCREDIT, nWISDOM, nACRDX, nOPAL, nPERENA, nLCRD, nSCOPE) backed by audited offchain assets including U.S. Treasuries, private credit, and structured DeFi strategies. The platform rebranded from Nest to Plume Vaults, and the vault tokens keep the n- prefix from the Nest era.

Plume Vaults (Nest) is Plume Network's flagship RWA-staking protocol, giving users onchain access to institutional-grade yield through structured, non-custodial vaults.

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Real-world asset (RWA) issuers

Plume Vaults

Alpha Plume Vault (nALPHA) is a tokenized fund share issued by Plume Vaults.

The fund is open-ended and invests in multi-asset in Latin America.

Retail investors can mint and redeem directly with Plume Vaults in USDC, pUSD, and USDT, and holders have a right to redeem at net asset value with two-to-five-business-day settlement.

nALPHA has been issued on public blockchains since April 2025 and is native to Ethereum, Solana, and Plume Network.

Alpha Plume VaultnALPHA