M^0 is a universal stablecoin platform that lets developers create their own programmable digital dollars backed by risk-free reserves. At its core is $M, a credibly neutral and fully collateralized digital cash primitive designed as a building block for stablecoin issuers, enabling safe, customizable, and interoperable financial products in DeFi.
M0 is a protocol that coordinates approved institutions (“Minters”) to lock eligible collateral (initially short-term U.S. T-bills) and issue a token called $M. The goal is a bearer-style digital asset with consistent backing, simple transfer onchain, and a rule set that aims to keep the amount of $M at or below the value of its collateral.
Institutions that mint $M pay protocol fees (an ongoing “minter rate,” and penalties if rules aren’t followed). Those fees are distributed within the system per its governance design.
There’s no direct retail mint button. If $M is adopted by wallets, exchanges, or DeFi apps, users could earn via products that hold or wrap $M and pass through yield from the underlying collateral, subject to each product’s terms, risks, and eligibility.