Trusted Custody
Where do funds live, and who can move them?
Prevent
Noon never holds protocol reserves on exchanges or in un-audited wallets. Every underlying asset is segregated, institutional-grade, and independently verifiable on-chain—with custom custody architectures fitted to each specific yield strategy across CeFi, DeFi, and TradFi.
1. Off-Chain Custody (CeFi & TradFi Assets)
Traditional delta-neutral strategies often fail because they keep margin directly on centralized exchanges. Noon eliminates exchange-insolvency risk by utilizing off-exchange settlement, regulated brokers, and institutional fund custody:
Exchange Strategies (Delta-Neutral Funding Rate Arbitrage): Margin is held off-exchange with Ceffu using institutional tri-partite settlement. Centralized exchanges execution venues never take custody of Noon’s core collateral. This insulates protocol capital from CEX insolvency or withdrawal halts.
Tokenized Traditional Assets (U.S. T-Bills & JAAA CLOs): Held via our RWA partner Dinari through Alpaca Securities—a regulated U.S. broker-dealer, FINRA member, and SIPC-insured entity. Assets are further backed by excess insurance policies, ensuring compliant, ring-fenced custody for tokenized real-world assets.
Private Credit Allocations: Capital allocated to the F-TAC (Fasanara Tactical Private Credit) strategy sits directly within Fasanara’s regulated institutional fund structure, operating under independent third-party fund administration and custody.
2. On-Chain Custody (DeFi Strategies & Protocol Reserves)
All on-chain yield strategies and protocol treasuries are locked in institutional-grade smart contracts and Multi-Party Computation (MPC) vaults:
Active DeFi Strategies (Lending, Looping, Principal Tokens): Operational positions (such as Aave, Compound, and Pendle PT deployments) are managed via institutional-grade MPC / multi-signature wallets. In the case of MPC wallets, key shares are mathematically split across multiple parties, ensuring no single device or individual holds a private key.
Protocol Reserves & Funds: Treasury balances—including the Noon Insurance Fund, Operations Fund, Community Fund, and Ecosystem Fund—sit in segregated institutional grade MPC / multi-signature wallets with published, transparent addresses. In the case of MPC wallets, key shares are mathematically split across multiple parties, ensuring no single device or individual holds a private key.
3. Segregated Key Management Architecture
To prevent administrative overrides or key compromise, Noon enforces a strict separation between protocol governance and capital execution:
Segregated Signing Architecture: Noon separates infrastructure governance and capital execution, and has segregated signing systems for each.
Zero Cross-System Signing: A signing key or device used in the Multisig cannot sign for MPC transactions.
Quorum Enforcement: All administrative, strategy, and treasury actions require multi-party quorum approvals. The most severe are governed by published time-delays.
4. Independent Verification
Every on-chain wallet address holding Noon reserves is publicly indexed and monitored 24/7. Anyone can inspect reserve balances, vault addresses, and collateral backing in real time:
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