nSCOPE, issued by the Nest Protocol smart contracts under the governance of Nest DAO LLC tokenholders, is a tokenized fund interest that allocates deposited stablecoins into tokenized real-world assets to deliver private credit yield from the Hamilton Lane SCOPE strategy [S1].

Holders receive a vault share whose value accrues through price appreciation as underlying assets generate yield, rather than through rebasing or distributions [S2]. The vault deploys capital into instruments including U.S. Treasuries, loan ETFs, and private credit, maintaining a liquidity buffer of 3% to 10% of vault net asset value (NAV) in highly liquid assets [S3]. Holders bear an ongoing management fee accrued by the accountant contract on assets under management, and instant redemptions carry a liquidity fee typically between 0.1% and 0.5% [S4][S3].

The protocol is operated by Nest DAO LLC, a Republic of the Marshall Islands non-profit decentralized autonomous organization established under the Decentralized Autonomous Organization Act of 2022, and is not issued by a single corporate entity [S5]. Vaults are non-custodial, with underlying assets and cash held by third-party custodians such as BNY Mellon rather than Nest [S6]. Access is restricted by jurisdiction, excluding the United States and listed high-risk countries, with onchain AML screening enforced at the sequencer level by Predicate Labs and TRM Labs in place of KYC [S7][S8].

Vault shares are ERC-20 tokens built on the ERC-4626, ERC-7540, and ERC-7575 standards, with cross-chain transfer via a LayerZero omnichain token; nSCOPE is deployed on Plume [S4][S1]. Minting and redemption accept USDC and pUSD [S1]. An automated hourly process updates NAV, with rate changes bounded to prevent manipulation [S2]. Queued redemptions settle from T+2 to T+5 [S3].

<Sources
  retrievedAt="2026-06-30"
  items={[
    { id: "S1", url: "https://docs.nest.credit/developers/integration-guides/nscope" },
    { id: "S2", url: "https://docs.nest.credit/about/vaults" },
    { id: "S3", url: "https://docs.nest.credit/about/liquidity-and-redemptions" },
    { id: "S4", url: "https://docs.nest.credit/about/architecture" },
    { id: "S5", url: "https://docs.nest.credit/security-and-compliance/terms-and-conditions" },
    { id: "S6", url: "https://docs.nest.credit/security-and-compliance/flow-of-funds" },
    { id: "S7", url: "https://docs.nest.credit/security-and-compliance/geographic-restrictions" },
    { id: "S8", url: "https://docs.nest.credit/security-and-compliance/aml" },
  ]}
/>


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

Hamilton Lane SCOPE Plume Vault (nSCOPE) is a tokenized fund share issued by Plume Vaults through Nest DAO LLC.

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

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

Nest DAO LLC is incorporated in the Marshall Islands.

nSCOPE has been issued on Solana as a SPL Token token since January 2026.

Hamilton Lane SCOPE Plume VaultnSCOPE

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