M by M^0

MUSD pegStablecoin

Fiat-backed stableFiat reserve (1:1)

Modular institutional dollar designed as the underlying asset other stablecoin products build on, via a permissioned minter network.

Latest peg

$1.0000

Deviation

0 bps

Market cap

$85.8M

Peg health

Tight peg

Historical peg variance

Tight peg

90-day series · source: DeFi Llama

On-chain

Alchemy · live

Live circulating supply88.5KwM

Decimals6

Arbitrum contract0x437c…b291

Last refreshed1s ago

Supply trend · ~30d

Recent transfers

When	From	To	Amount
3d ago	0x6747…acb5	0xb50a…2e53	1
3d ago	0x0bad…51d3	0x6747…acb5	1
4d ago	0xb100…48a2	0x0bad…51d3	2
7d ago	0x8f10…f996	0x8026…bede	1
7d ago	0xb50a…2e53	0x8f10…f996	1
7d ago	0xb100…48a2	0xb50a…2e53	0.9692
7d ago	0xb100…48a2	0xcd6b…9799	0.0064
7d ago	0xff54…9ba4	0xb100…48a2	3

Chain distribution

Circulating supply by chain · updated 14h ago

DeFi Llama

Ethereum155.2M M84.8%

Solana15.5M M8.4%

Monad9.6M M5.3%

Noble2.2M M1.2%

Hyperliquid L1451.7K M0.2%

Arbitrum165.9K M0.1%

OP Mainnet13 M0.0%

Plume Mainnet0.0680 M0.0%

Metadata

Peg targetUSD

Sub-categoryStablecoin

IssuerView network

Chains—

Arbitrum nativeNo

LiveNo

Founded—

Links

Website Contract (Arbiscan)

Issuance

Backing & mint/redeem mechanics per the issuer.

DeFi Llama

Peg mechanismFiat-backed

In order to generate M, Minters must have a sufficient off-chain balance of Eligible Collateral which is represented on-chain by a frequently updated and validated number, known as the on-chain Collateral Value

Market

CoinGecko · live

Price$0.998972

Market cap$85.8M

Rank#279

24h volume$1.8M

Circulating85.8M

Total supply85.8M

24h change-0.0%

7d change-0.1%

ATH / ATL$15.4 / $0.969