Mountain Protocol USD Price

About the coin

The USDM token is a stablecoin designed to maintain a 1:1 peg with the US dollar. It is an ERC20 token, meaning it operates on the Ethereum blockchain. The token is fully backed by USDM Reserves, which are held under custody with regulated financial institutions. These reserves are kept in bankruptcy-remote accounts, segregated from the company's operating accounts, ensuring the security and integrity of the backing assets.

Main features

USDM is a rebasing token, which means it adjusts its supply daily to maintain its peg to the US dollar. This rebasing mechanism allows users to receive rewards, which are generated by the interest paid by US Treasuries held in the USDM Reserves. The rebasing feature is designed to provide users with a stable and rewarding experience, combining the benefits of a stablecoin with the potential for earning interest.

How it works

The USDM token operates by maintaining a reserve of US Treasuries, which generate interest. This interest is then distributed to users through the rebasing mechanism. The reserves are managed by regulated financial institutions, ensuring compliance with financial regulations and providing a high level of security for the assets backing the token. The rebasing process adjusts the supply of USDM tokens daily, allowing users to benefit from the interest generated by the reserves while maintaining the token's 1:1 peg to the US dollar.