Blockchain for real-world asset (RWA) yield launched by Clearpool, Ozean announced a partnership with Mountain Protocol aimed at integrating USDM into Oxygen (O2), a liquidity layer for RWA yield.
“Integrating USDM into O2 enhances our liquidity layer with a regulated, yield-bearing stablecoin,” said Jakob Kronbichler, CEO and Co-founder of Clearpool, in a written statement. “We’re pleased to welcome Mountain Protocol to the Ozean ecosystem and look forward to deeper collaboration as we scale our ecosystem and offerings,” he added.
USDM is a regulated, permissionless stablecoin that offers yield, currently providing a 5% annual percentage yield (APY). Designed to be pegged to the US dollar, it aims to offer a reliable digital asset for transactions and savings. The peg is maintained by having primary customers buy and sell USDM at a value of $1 and by holding short-term US Treasury bills as collateral in a bankruptcy-remote Special Purpose Vehicle (SPV), USDM Reserves Ltd. The current total value locked (TVL) for USDM is $61 million, distributed across Ethereum, Arbitrum, Optimism, Polygon PoS, and Base.
The integration of USDM into O2 is further strengthened by the collaboration between Mountain Protocol and BlackRock’s BUIDL fund, facilitated through Securitize, BlackRock’s tokenization platform for BUIDL. This partnership adds institutional support, enhancing both the security and yield potential of USDM, which offers users additional confidence and the possibility of higher yields within the Ozean ecosystem. Mountain Protocol has also secured funding from major investors, including Coinbase Ventures, Multicoin Capital, and Castle Island Ventures.
Ozean partners with @MountainUSDM to bring USDM into Oxygen!
USDM is a regulated yield-bearing stablecoin issued by Mountain Protocol, backed by US Treasuries and BlackRock’s BUIDL fund.
Facilitated by Securitize, BlackRock's BUIDL fund also enhances wrapped USDM's security… pic.twitter.com/rZVnnk22EW
— Clearpool (launching Ozean) (@ClearpoolFin) November 28, 2024
What Is Ozean’s O2?
O2 is designed to enhance liquidity within the Ozean ecosystem by incorporating a variety of assets, such as RWAs, tokenized treasuries, and yield-generating tokens. USDM joins this diverse range of assets, supporting key functionalities like swaps, lending, and collateralization.
Ozean’s goal is to transform decentralized finance (DeFi) by integrating RWAs in a compliant manner, enabling users to earn native yield automatically and on-chain. As a permissionless Ethereum Layer 2 solution with an optional compliance layer, it promotes interoperability between permissioned and permissionless protocols.
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