Noon sUSN
Live . ethereum . 0xe24a3dc889621612422a64e6388927901608b91d
What this vault advertises, against what it actually paid, measured from its own share price on chain over a 30 day window. Everything below is recomputed hourly and every figure on this page comes from the snapshot named at the bottom. Nothing here is typed by hand.
Advertised
7.83%
30 day average
Realized
7.74%
30 day window
Gap
+0.09 points
98.8 percent of advertised
A positive gap means the protocol advertised more than its holders realized.
advertised and realized measured over the same 30 day window.
What Noon published.
APY, 28D 7.83%
Figure we recorded
7.83%
Basis
30 day average (trailing-30d)
Label on their surface
28 day average APY
Read on
2026-08-12
Age at the end of our window
2.8 days, limit 10
Source
https://app.noon.capital
Open the page we read it from. It is a first-party surface by rule. An aggregator figure is never recorded in this column, whatever it says.
Other figures this protocol publishes
- 7.01% 7 day average APY (7 day average, read 2026-08-12)
Recompute it yourself.
The realized figure is two calls and one exponent. Both calls are pinned to a block height, so they return the same values for you as they did for us, forever. Use any archive endpoint. We deliberately do not name one: a reproduction that runs on our RPC is not a reproduction.
The call
Chain
ethereum
Contract
0xe24a3dc889621612422a64e6388927901608b91d
Method
convertToAssets(uint256)
Argument
1000000000000000000 (one whole sUSN share, 18 decimals)
eth_call data
0x07a2d13a0000000000000000000000000000000000000000000000000de0b6b3a7640000
Returns
USN, 18 decimals
The argument is one whole share in the SHARE token's own decimals, which is not always eighteen. Kerne's own skUSD reports twenty four, so calling it with 1e18 returns a millionth of the right answer. Ask the vault for its decimals rather than assuming, exactly as our collector does.
At the start of the window
Block
25539888 (0x185b530)
Timestamp
1784140607 (2026-07-15 18:36 UTC)
Share price returned
1.207447922063914452
At the end of the window
Block
25755112 (0x188fde8)
Timestamp
1786732607 (2026-08-14 18:36 UTC)
Share price returned
1.214866938257283272
Start of window, cast
RPC_URL=... cast call 0xe24a3dc889621612422a64e6388927901608b91d "convertToAssets(uint256)(uint256)" 1000000000000000000 --block 25539888 --rpc-url "$RPC_URL"End of window, cast
RPC_URL=... cast call 0xe24a3dc889621612422a64e6388927901608b91d "convertToAssets(uint256)(uint256)" 1000000000000000000 --block 25755112 --rpc-url "$RPC_URL"Start of window, raw JSON-RPC
{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0xe24a3dc889621612422a64e6388927901608b91d","data":"0x07a2d13a0000000000000000000000000000000000000000000000000de0b6b3a7640000"},"0x185b530"]}End of window, raw JSON-RPC
{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0xe24a3dc889621612422a64e6388927901608b91d","data":"0x07a2d13a0000000000000000000000000000000000000000000000000de0b6b3a7640000"},"0x188fde8"]}Both calls return an integer in the smallest unit of USN. Divide by 10 ** 18 to get the share price printed above. Set RPC_URL to any archive endpoint you trust.
The arithmetic
growth = 1.214866938257283272 / 1.207447922063914452
elapsed = 1786732607 - 1784140607 = 2592000 seconds
annualized = (growth ^ (31536000 / 2592000) - 1) * 100
= 7.7375% (0.614438% over the window)
Simple compounding at the observed rate, on a 365 day year. No fee assumption, no reinvestment assumption, no smoothing. If your arithmetic lands somewhere else, that disagreement is the finding and we want it: liam@kerne.fi.
Context for this row.
Live and accruing, and the closest match on this board. Noon publishes a 28 day average APY of 7.83 percent on its own app, beside the date range it covers, and our independent thirty day reading of its vault share price lands within a few hundredths of a point of it. That is the result this page exists to be able to return, and it is worth more than any of the gaps: it shows the method can say "this protocol is telling the truth" precisely. Three notes for a reader. Noon labels its window 28 days rather than 30, so it is not quite our window and the row is scored on the figure Noon itself calls comparable while saying so here. Noon is multi strategy rather than purely delta-neutral: its own app breaks its book into private credit, DeFi lending, US Treasuries, CLOs and undeployed cash, so its yield is not a pure funding-rate carry. And this row is the clearest illustration on the page of why the advertised column now expires: read on 2026-07-29 Noon published 8.75, and against a realized figure that has hardly moved, carrying that fortnight old number forward would have shown Noon a full point short of its own rate instead of level with it.
This page measures one axis and one only: advertised yield against realized yield. It is not a rating, not an audit, and it says nothing about whether Noon is safe or whether its reserves are what it says they are. A protocol in an announced wind down paying nothing is behaving correctly. The reserve axis is a different page, at the reserve transparency scorecard.
Take this row with you.
This page
https://kerne.fi/honesty-index/noon-susnCitation
Kerne Honesty Index, 2026-08-14: Noon (sUSN) advertised 7.83%, realized 7.74% from on-chain share-price growth, gap +0.09 points (advertised and realized measured over the same 30 day window). Source: https://kerne.fi/honesty-index#row-noon-susnBadge, markdown
[](https://kerne.fi/honesty-index#row-noon-susn)Badge, HTML
<a href="https://kerne.fi/honesty-index#row-noon-susn"><img src="https://kerne.fi/honesty-badge.svg?row=noon-susn" width="360" height="112" loading="lazy" alt="Kerne Honesty Index: advertised versus realized yield"></a>Row in the API
https://kerne.fi/api/honesty-index/row/noon-susn
Where these numbers came from.
Snapshot generated
2026-08-14 18:37 UTC
Snapshot source
live store
Signature
verified, signer 0x84949170e0ad0f9bd8686a4aa4922c10f5fdc4ea
Row key
noon-susn
The signature is checked on every render rather than assumed from the presence of a field. A snapshot that does not verify is served with that said plainly instead of borrowing the word.
Board last read 2026-08-14. Every figure on this page is regenerated from https://kerne.fi/honesty-index and none of them is stored in this file.