US Nerite Dollar

US Nerite Dollar (USND) is a decentralized CDP stablecoin on Arbitrum One based on Liquity V2 architecture. Active Development was excluded from the weighted score due to insufficient data (-1.0), as core development has ceased following protocol wind-down. The remaining sections yielded a weighted average score of 2.6. In April 2026, the protocol experienced fatal collateral contagion resulting from an upstream exploit of Kelp DAO's rsETH bridge, leading to bad debt and protocol insolvency. The team published an emergency shutdown notice advising all users to immediately exit positions, rendering the token deprecated and inactive. Under the deprecated token rule, the asset is classified as defunct.