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Mountain Protocol
Mountain Protocol is the issuer of USDM, a yield-bearing stablecoin collateralized by short-term US Treasuries. It aimed to provide a regulated, transparent, and permissionless financial product for the DeFi ecosystem. As of the latest update, the USDM token is undergoing an orderly wind-down.
Distributed
Description
Mountain Protocol is a regulated financial institution that offered USDM, a permissionless, yield-bearing stablecoin. USDM is an ERC20 token, fully collateralized by short-term US Treasuries held in segregated, bankruptcy-remote accounts. It was designed to be composable and compatible with any smart contract that supports the ERC20 standard and was natively supported on multiple blockchains including Ethereum, Polygon, and Arbitrum. The project is currently undergoing an orderly wind-down, with minting permanently disabled.Grant Funding
VC Funding
None
2024
$0
$8M