Hi Noon fam,
We understand there’s some confusion about the date $NOON would be transferable (and $sNOON would be able to be unstaked). We apologise for this - our communications will be better and clearer going forward.
Our intention during the December 2025 vote on transferability was to delay transferability until some point in Q1 2026. Our target was late Jan 2026, but we wanted to give ourselves a little flexibility should the market not recover by then. Again, we understand that we missed the mark on communicating this. To rectify our miscommunication, we’re dropping a new Governance discussion, as well as a new vote today. Unlike previous governance topics, we’re experimenting with having both the discussion and the vote occur simultaneously, to see if we can speed up our decision making process as a protocol. And as we’re close to the end of Jan, and our miscommunication led people to believe that transferability would take place by then, both the discussion and the vote will wrap up by the end of Jan. We understand that this is shorter than usual, but we felt this was the best out of a suboptimal set of options. However, bear in mind that your $sNOON continue to earn additional rewards in the meantime. So keep holding!
At this stage, we believe moving transferability to March 2026 is the responsible choice for our protocol.
- As we mentioned above, the market has not recovered as quickly as we hoped. We feel that launching in this market would diminish the value of the $NOON token for our users - and would be suboptimal for both users and the protocol. Of course, we cannot guarantee that the market will have improved by March, but we are confident in the traction that we’re building - which will allow us to enable transferability in a broader set of market conditions by then.
- Several Tier 1 and Tier 2 Centralised Exchanges (CEXes) have revamped their token listing processes, and made listing significantly more difficult and more expensive. We could of course have opted for a DEX-only listing, but wanted at least 1 CEX to support us. We have strong signals that this will be possible in March.
- Our TVL has grown 25% in the last month. We have a loaded pipeline in February. More traction will allow us to not only launch transferability of $NOON with more momentum, but it will also give us more leverage in our negotiations re: listing fees. We want to minimise listing fees as much as possible - since we do not have investors, mercenary LPs, etc with large $NOON allocations, we wanted to ensure we didn’t trip at the last hurdle, and give away a large amount of tokens to get listed. Delaying transferability to March will help us with this.
Safety, transparency, and community participation are core to Noon’s governance. This decision is being brought forward openly so that every $NOON holder can engage, ask questions, and help shape the path forward. Again, we can only apologise for the miscommunication (and the subsequent rush of this discussion / vote), and will ensure we do better going forward.
Ultimately, delaying transferability supports Noon’s long-term health. It reflects a safety-first, risk-aware approach that aligns with our goal of building a resilient, sustainable stablecoin protocol. We believe this sets us up for greater momentum when the launch does happen.
Proposed timeline: Transferability launch delayed until March 2026.
This proposal is open for community discussion, and we welcome all constructive feedback and perspectives.