Mountain Protocol

Tokenized Product

USDM, the first regulated, permissionless, and yield-bearing stablecoin, backed by t-bills. Mountain Protocol is a regulated financial entity by the BMA.
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Mountain Protocol is the issuer of USDM, the next generation stablecoin. USDM is the first regulated, permissionless, and yield-bearing stablecoin, fully backed by US Treasuries. USDM follows a proven security model used by all the well-known stablecoins, sharing real yield with holders, currently at a 4.7% APY. Mountain Protocol is a prudentially-regulated financial entity, compliant with the regulations of the Bermuda Monetary Authority (Class F License #202302512).

Legal Name: Mountain Protocol Limited
Counterparty Type: Tokenized Money Market Product
Entity Type: Ltd
Products: USDM
Year Founded: 2023

Issuer Jurisdictions: Bermuda
Licenses: https://www.bma.bm/regulated-entities
Tokenized Asset Ticker: USDM
Tokenized Asset Name: Mountain Protocol USD
Service Providers: Fireblocks
Blockchain Networks: Ethereum Mainnet, Polygon PoS, Arbitrum, Base, Optimism, ZKsync
Tokenized Asset Contract Address(es): 0x59D9356E565Ab3A36dD77763Fc0d87fEaf85508C,
For ZKsync: 0x7715c206A14Ac93Cb1A6c0316A6E5f8aD7c9Dc31
Token Standard: ERC-20
Subscription/Redemption (Mint/Redeem) Permissions: Centralized mint and redeem. Available liquidity for primary customers to deposit USDC and have USDM credited. 
Liquidity: 24/7
Secondary Market Permissions: Not Permissioned
Mechanics of Token Value Accrual: Rebase
Integrations: Mountain Protocol has extensive experience working with decentralized organizations. From a treasury perspective, several DAOs hold USDM in their treasury, including Arbitrum DAO (https://forum.arbitrum.foundation/t/step-committee-recommendations/25097), Ethena Reserve Fund (https://gov.ethenafoundation.com/t/rwa-reserve-fund-allocation-winners/235) among others. From an integration perspective, the Mountain team has supported the integration and incentive allocation process for USDM on multiple protocols, including DEXes, lending (Compound, Morpho, Dolomite, Silo, Venus, among other), derivatives (Injective, HMX, contango, LogX, RFX). USDM is integrated into Chainlink’s CCIP, which allows users to use USDM across all the markets.
Standard Fees: None
Other Expenses: None
Other Features: We also have a wrapped wUSDM token (ERC 4626) that is value appreciating (working similarly to Lido's wstETH whereas USDM acts like stETH).

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