Mountain Protocol fund
Overview
USDM, an ERC-20 stablecoin that distributes yield from short-dated US Treasury holdings to its users, is issued by Mountain Protocol. The firm operates under a digital asset issuer licence (number 202302512) from the Bermuda Monetary Authority and, upon its debut, promoted USDM as the first yield-bearing stablecoin to receive national-level regulation. The token employs a rebasing mechanism: every day at 14:00 UTC, each wallet's balance is adjusted upward to reflect the accrued daily return, while the underlying reserves are kept in bankruptcy-remote accounts distinct from the company's operational funds. Designed for non-US users, USDM is interoperable with various DeFi protocols. Mountain Protocol subsequently secured $8 million in a Series A funding round.
Relations
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Frequently asked questions
What is Mountain Protocol?
Mountain Protocol is a fund tracked in The Counterparty knowledge graph.
What type of entity is Mountain Protocol?
Mountain Protocol is classified as a fund (fund) in The Counterparty knowledge graph.
Sources
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