USD Mapped TokenPrice

(USDM)

USD Mapped Token (USDM) is a stablecoin designed to maintain a value equivalent to the US dollar. Its core purpose is to provide stability within the often-volatile crypto market. By offering a digital asset that mirrors the dollar's value, USDM aims to mitigate volatility risks for users, enabling more predictable transactions, facilitating long-term holdings, and integrating seamlessly into various Web3 applications and services without the constant concern of price fluctuations common to other digital assets. It serves as a reliable medium of exchange and a store of value.

USDM is fully collateralized by a robust reserve system. These 'USDM Reserves' are held in segregated, bankruptcy-remote accounts, meaning they are protected even if the issuing entity faces financial difficulties. The reserves are exclusively composed of short-term US Treasuries, which are widely considered highly liquid and low-risk assets. This backing mechanism is fundamental to USDM's design, providing a solid foundation for its stability and its objective of maintaining a consistent 1:1 peg to the US dollar, offering peace of mind to its holders regarding its intrinsic value.

USDM features a distinct daily rebasing mechanism for rewards. This means that new tokens accrue to USDM holders on a daily basis. The reward system is designed such that holders receive these benefits regardless of where their USDM is stored – be it in a personal wallet, a decentralized finance protocol, or an exchange. The accrual is managed by modifying the `balanceOf` function through a `rewardMultiplier`. This innovative approach ensures that all USDM holders can benefit from the underlying reserve's yield, making it an attractive option for those seeking passive returns on a stable digital asset.

Yes, USDM is structured as a regulated asset. It operates under a specific regulatory framework, adhering to established compliance requirements. The project is licensed and overseen by the Bermuda Monetary Authority, which is a recognized financial regulator. This regulatory oversight ensures that USDM operates within defined legal parameters, providing an added layer of trust and security for users. Such adherence to regulations is crucial for fostering confidence in the stablecoin's operations and its long-term viability in the global financial ecosystem, distinguishing it from many unregulated digital assets.

Eligibility for interacting with USDM depends on the user type. Primary users are typically incorporated businesses located in supported countries that hold a Mountain Protocol account. These entities have the direct ability to mint new USDM and redeem it. Secondary users, on the other hand, acquire USDM through different channels. They can obtain it from primary users, from other secondary users, or by trading on various cryptocurrency platforms, including both decentralized exchanges and centralized exchanges like LBank. This tiered access ensures a controlled and compliant issuance process while maintaining broad liquidity for the general user base.

USDM is widely accessible for trading across various cryptocurrency platforms. Users can acquire or exchange USDM on both centralized exchanges and decentralized exchanges. Specifically, it can be found on centralized platforms such as LBank, among others. Its availability on a range of exchanges ensures broad liquidity and ease of access for users globally. Furthermore, as an ERC-20 compatible token, USDM is designed to integrate seamlessly with various decentralized finance (DeFi) products, allowing for its use in lending, borrowing, and other DeFi protocols across supported blockchains, enhancing its utility and tradability.