Mountain Protocol's USDM, the first permissionless yield-bearing stablecoin, is now live on Injective!

Users can earn yield while using USDM for trading, lending, and other DeFi activities.

USDM is bridged into Injective as wUSDM, reflecting the current price and yield. This eliminates the need for rebasing, and wUSDM will steadily increase by 5% annually, providing a consistent yield to users.

#MountainProtocol #USDM #Defi #ETH_ETFs_Trading_Today #injective $INJ

Mountain Protocol has raised $8M in a Series A funding round led by Multicoin Capital and participated by other investors.

The USDM is the first prudentially regulated, yield-bearing stablecoin, which means it is backed by a stable currency and earns interest.

#MountainProtocol #USDM #stablecoin #TopCoinsJune2024 #BnbAth

BlackRock backs Manta Network's wUSDM stablecoin security

#BlackRock BUIDL Fund has backed #MantaNetwork wUSDM, a #stablecoin deployed via #MountainProtocol on #MantaPacific This partnership aims to enhance the security and stability of wUSDM by leveraging BlackRock's custodianship and traditional financial expertise. The collaboration underscores efforts to integrate blockchain technology with established financial assets, potentially broadening wUSDM's appeal among investors.

Mountain Protocol raises $8M in a Series A funding round

#MountainProtocol secures $8M in a Series A funding round led by Multicoin Capital with participation from Coinbase Ventures, Castle Island Ventures, The Department of XYZ, Bankless, Wormhole, and Aptos. Mountain Protocol is the issuer of USDM, a yield-bearing stablecoin backed entirely by U.S. Treasuries.

Previously, the project secured $4M in a Seed funding round from Coinbase Ventures, Daedalus, Castle Island Ventures, and others.

👉 x.com/MountainUSDM/status/1798740495679815731