Every NUGS token is backed 1:1 by USDC held in an on-chain vault. The smart contract enforces this mathematically — no trust required. Query it yourself.
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Querying vault...
USDC Backing
NUGS Supply
Collateralization Ratio—
On-Chain Invariant
backing() ≥ supply()
This condition is enforced at the smart contract level. Minting is blocked if it would break the peg. Withdrawals are blocked if they would undercollateralize the supply. No oracles. No trust. Just math.