Mountain Protocol USD (USDM)

“Mountain Protocol USD (USDM) is a permissionless yield-bearing stablecoin that offers institutional-grade, regulated, and transparent features. TBills back it and operates with tier-one institutional partnerships, ensuring robust bankruptcy protection.

The USDM token provides users with an ultra-safe, moderate return on their USD holdings through the yield from short-term US Treasuries. It operates as a permissionless ERC20 token, compatible with any smart contract that supports the ERC20 standard. USDM adheres to leading security standards, including audit by Open Zeppelin and building on top of Fireblocks, a leading MPC custody solution. Additionally, USDM Reserves are held in a bankruptcy-remote setup and subject to collateral proof of reserves, third-party attestations, and regulatory oversight.

Mountain Protocol Limited determines the daily rate of USDM, offering users a risk-free rate comparable to the secured overnight financing rate. USDM operates with trusted global leaders and currently supports the Ethereum blockchain natively, with plans to enable other blockchains. USDM can be purchased by primary users directly from Mountain Protocol, while secondary users can acquire it from primary users, other secondary users, or decentralized exchanges. Rewards for USDM accrue daily through a rebase mechanism that modifies the balanceOf via a rewardMultiplier.”