Mountain Protocol’s USDM natively deploys on ZKsync Era

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“`htmlMountain Protocol’s USDM natively deploys on ZKsync Era

Mountain Protocol’s USDM: A Stablecoin Adventure on ZKsync Era!

In a rather exhilarating twist of fate, Mountain Protocol has proclaimed the native issuance of its yield-bearing stablecoin, USDM, upon the illustrious ZKsync Era. One might say, “What a time to be alive!” 🎉

This launch bestows upon the ZKsync (ZK) denizens the remarkable ability to employ the USDM stablecoin within the bustling realm of decentralized finance, all the while reaping the rewards of tokenized Treasury bills. The astute team at Mountain Protocol has declared that the two tokens—USDM and its dapper cousin wUSDM—are now available for your delight on the ZKsync Era. 🌄

USDM, a regulated ERC-20 token, finds itself in illustrious company with other top fiat-backed stablecoins. It made its grand debut in September 2023, allowing its fortunate holders to bask in the glory of U.S. Treasury bills and myriad opportunities across the DeFi landscape. This rebasing stablecoin, with its alluring 4.7% annual percentage yield, promises daily rewards for its holders. And yes, it is pegged 1:1 to the U.S. dollar—because who doesn’t love a good peg? 💰

Now, dear ZKsync users, you may cradle USDM within your digital wallets, earning daily yield, utilizing it for payments and settlements, or depositing it into liquidity pools to earn those coveted trading fees. It also serves as a trusty companion in DeFi lending and can even act as collateral in the high-stakes world of perpetual trading. Talk about versatility! 💪

Meanwhile, wUSDM, the wrapped incarnation of our beloved stablecoin, reflects the price appreciation as USDM rewards accumulate for its fortunate holders. Mountain Protocol has graciously afforded users the ability to wrap and unwrap USDM and wUSDM on its mainnet, decentralized exchanges, and liquidity aggregators. It’s like a digital origami of finance! 🦢

According to a rather enthusiastic announcement from Mountain Protocol on January 20, both USDM and wUSDM are now up for trading on the ZKsync DEX platform SyncSwap, boasting an impressive liquidity of over $5 million. Who knew finance could be this exciting? 😲

“By incorporating USDM into the blockchain, ZKsync will be enhancing its ecosystem’s overall yield rates, making it a more capital-efficient blockchain, while adopting a transparent and secure token,” Mountain Protocol shared via X. One can only hope they’ve hired a good marketing team! 😂

Alas, one must note that USDM remains unavailable to U.S. citizens and those residing in other restricted countries and jurisdictions. A bittersweet reality, indeed! 🌍

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2025-01-20 22:20