mStable USD

mUSD

mUSD is a decentralized stablecoin that is backed by a basket of other stablecoins deposited as collateral in the mStable protocol.

Risk Rating
Watch Out
$1.01
Summary
What we like
mUSD is the first meta-asset that is backed by a basket of underlying stablecoins including USDC, USDT, DAI and sUSD.
What we like less
mUSD could lose peg in volatile market conditions given the potential risk of sUSD losing peg (reflexivity with SNX).
What it means for you
Offers you a great way to passively earn yield on your USD, while maintaining exposure to a non-volatile instrument to hedge your portfolio against market conditions.

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Information
Blockchain
  • Ethereum
Key Metrics
  • Market Cap: $3.1M
  • Fully Diluted Valluation: $3.1M
  • FDV / MC: 1
  • Ranking inside Exponential (among stables): #35
  • Circulating Supply: 3,069,736
  • Total Supply: 3,069,736
  • Volume (24H): $21.3
  • ATH: $2.71 (07/25/2022)
  • ATL: $0.47 (06/19/2023)
Risk Assessment
Watch Out
Asset Strength

mUSD is a low-cap, fully collateralized asset. This asset is exposed to the underlying risks of mStable CDP, a protocol rated as Average.

mUSD is a stablecoin that trades within 50bps of its peg to USD, which makes it a less volatile store of value.

Asset Tokenomics

mUSD has an uncapped supply but has inflation control or burn mechanisms in place. mUSD is a decentralized stablecoin that is backed 1:1 by a basket of other stablecoins deposited as collateral in mStable.

Asset Volatility

mUSD is a stablecoin that trades within 50bps of its peg to USD, which makes it a less volatile store of value.

Dependencies

mStable

Things to know about mUSD

How does mUSD work?

mUSD is a synthetic asset created on the mStable platform. It is a fully collateralized stablecoin that is backed by a basket of selected USD stablecoins. These include USDC, USDT, DAI and sUSD on Ethereum, and USDC, USDT and DAI on Polygon. Each asset within the basket has a set of max and min weights. Currently, these weights are set to 5% and 50%, respectively. This means the max a single asset could comprise is no more than 50% and the min is no less than 5%.

How to mint and redeem mUSD?

mUSD can be obtained in two ways. First, users can mint new mUSD by depositing one or more of the whitelisted USD stablecoins into the underlying pool (through the Swap feature). Second, users can use mStable's Feeder Pools to exchange supported USD stablecoin assets for mUSD. Users can also buy mUSD on the open market on exchanges like Uniswap or Curve.

Why can you do with mUSD?

mUSD can be used as a medium of exchange or a non-volatile store of value to hedge your portfolio during volatile market conditions. You can also deposit your mUSD into the mStable Save pool to receive interest-bearing mUSD (imUSD), which can further be deposited into the mStable Vault to earn MTA protocol rewards. Lastly, you can provide liquidity with your mUSD in the Feeder Pools to earn trading fees from stablecoin swaps.

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