DEMOCRATIZING ACCESS TO MONEY INFRASTRUCTURE
M^0 is a decentralized, on-chain protocol, as well as a set of off-chain standards and APIs, that allows institutional holders of high-quality collateral to issue fungible cryptodollars.
Introducing $M
$M is a composable cryptodollar backed by high-quality, exogenous collateral.
CREDIBLY NEUTRAL
$M will eventually be issued by multiple institutions in a fungible way, and it cannot discriminate against specific holders at the base layer.
COMPOSABLE BUILDING BLOCK
Minters can use $M as raw material for building wrapped financial products that adhere to additional requirements, or distribute it in its native form.
NEXT-GEN EURODOLLAR
$M benefits from high-quality collateral requirements while having no practical exposure to the US banking system for minting, storage, and redemption.
The M^0 Ecosystem
The M^0 protocol is a coordination system for Minters, Validators, and Earners.
MINTERS
A Minter is an institution that connects to the protocol to generate and manage the supply of $M.
VALIDATORS
A Validator is an independent entity that provides timely information about the off-chain collateral being used to generate $M.
EARNERS
Earners are holders of $M whose addresses are approved by governance to earn the Earner Rate.
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Best-in-Class
Collateral Storage Design
Collateral Storage Design
Enabling collateral to be robustly coordinated on-chain.
HIGH QUALITY COLLATERAL
Limited to liquid, short-term US Treasuries (as directed by governance) in over-collateralized fashion.
BANKRUPTCY REMOTENESS
Collateral storage implemented via proven special-purpose vehicles in appropriate jurisdictions (as directed by governance).
BEST PRACTICE DESIGN
Adding collateral can be done directly by Minters, but retrieving collateral can only be completed by a third-party operator based on on-chain verification.
Introducing Two Token Governor (TTG)
Next-generation money middleware should be governed by simple rules, strong participation, and aligned incentives.
TWO-TOKEN MECHANISM
Delegates use $POWER to facilitate voting, and governors use $ZERO holding to safeguard the system against corruption.
Strong VOTER participation
TTG incentivizes engaged participation by diluting the voting power of absent governors over time.
Simple rules
M^0 is an immutable protocol, and TTG facilitates the permissioning of Minters, Validators, and Earners, as well as the parameterization of collateral ratios and protocol rates.
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Frequently Asked Questions
Find answers to commonly raised questions
What is M^0?
What is $M?
What is a Minter?
