mUSD

A USD-pegged crypto asset backed by an underlying basket of USD stablecoins.

What is mUSD?

mUSD is the first meta-asset introduced by mStable. mUSD is USD-pegged crypto asset in its own right, backed by a basket of selected USD stablecoins. The assets currently underlying mUSD include:

On Ethereum:

• USDC

• USDT

• DAI

• sUSD

On Polygon POS-Chain:

• USDC

• USDT

• DAI

Each asset within the basket has a set of max and min weights. Currently, these are set to 5% and 50%. This means that no single asset could make up more than 50% of the basket nor less than 5%. This is to limit exposure to a single underlying asset in the unlikely case of a depeg.

How can I obtain mUSD?

You can acquire mUSD in the following ways:

• Minting new mUSD by depositing one or more whitelisted USD stablecoins into the underlying pool and receiving mUSD in return. This can be achieved in the mStable App on Ethereum or Polygon through the Swap functionality.

• Using mStable Feeder Pools to exchange supported USD stablecoins assets for mUSD. This option is also provided through the Swap functionality in the mStable App on Ethereum or Polygon.

• Purchasing mUSD on major decentralized exchanges on Ethereum:

  • Uniswap

  • Balancer

  • Curve

  • Sushiswap

  • Matcha

  • 1inch

What's the utility of mUSD?

• Use mUSD as a medium of exchange, unit of account or store of value in DeFi.

• Deposit your mUSD into the mStable Save contract to receive interest-bearing imUSD which can also be deposited into the mStable "Vault" to earn MTA rewards.

• Provide liquidity with you mUSD in mStable's Feeder Pools to earn income from swap fees.