nPERENA, issued by the Nest Protocol smart contracts under the governance of the Plume Foundation, is tokenized vault interest that provides onchain exposure to short-term credit card receivables originated through BlackOpal's regulated payment financing platform. [S1][S2]

The vault finances consumer and merchant card settlement flows across established payment networks, and complements this with Superstate's basis trading fund (USCC) and Treasury product (USTB) to support redemption management and portfolio stability. [S1] Holders receive yield through appreciation in the vault token price, which tracks the net asset value (NAV) of the underlying assets. [S3] The vault reports an estimated annual yield of 9 percent. [S1]

The Nest application is developed by Kimber Labs Inc., doing business as Plume Network Inc., and is created and managed by the Plume Foundation, rather than issued by a single corporate entity. [S2] Each vault is an immutable, non-custodial smart contract that holds segregated assets and never takes custody of tokenholder funds. [S2] Holders own ERC-20 vault tokens redeemable for the underlying value over an approximately seven-day settlement window. [S1][S4] Access uses onchain AML screening without traditional KYC, and users in OFAC-sanctioned countries and the United States are excluded. [S4]

Vault tokens follow the ERC-20 standard, built on the BoringVault architecture, across Plume, Ethereum, and Solana, where shares deliver as SPL tokens via the LayerZero OFT standard. [S4][S5] Deposits and redemptions settle in U.S. dollar (USD) stablecoins routed through Circle's Cross-Chain Transfer Protocol, with NAV pricing updated hourly. [S5][S3]

<Sources
  retrievedAt="2026-06-30"
  items={[
    { id: "S1", url: "https://www.nest.credit/vaults/nest-perena-vault" },
    { id: "S2", url: "https://docs.nest.credit/" },
    { id: "S3", url: "https://docs.nest.credit/about/vaults" },
    { id: "S4", url: "https://docs.nest.credit/support/faq" },
    { id: "S5", url: "https://docs.nest.credit/developers/integration-guides/ntbill/" },
  ]}
/>


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

Perena Plume Vault (nPERENA) is a tokenized fund share issued by Plume Vaults.

The fund is open-ended and invests in private credit.

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

nPERENA has been issued on public blockchains since February 2026 and is native to Solana, Ethereum, and Plume Network.

Perena Plume VaultnPERENA

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