MUSD is a way of giving back the native yield and the gas revenue share from Blast, along with other sources of income, to MonoSwap's users and supporters.
The collateral comes from:
- Users deposit USDB at the market rate in order to mint new MUSD.
- Part of the fees from transactions on MonoSwap will be converted to USDB and deposited into the collateral to back MUSD. This deposit does not put new MUSD in circulation.
- All of Blast's native yield from ETH, USDB, and gas revenue share will be gathered in the Mono Treasury, then converted into USDB and deposited into the collateral to back MUSD, which does not put new MUSD in circulation either.
MUSD Features:
- MUSD is not pegged but backed by the yield-generating USDB - Blast's auto-rebasing stablecoin
- With a unique mechanism, MUSD's price does not go down, and can't be lower than USDB
- MUSD holds value down to the last holder even when everyone sells out
- The value of MUSD can increase faster after a massive dump
- Anyone can redeem MUSD for USDB at any time
- Value growth is attentively controlled
- There’s no maximum supply
