Introducing USDM - A Transparent, Secure, and Versatile Stablecoin by Mehen
Empowering the Future of DeFi on Cardano
Mehen’s USDM is set to revolutionize decentralized finance on Cardano. With unmatched transparency, adaptability, and security, USDM is the stablecoin you’ve been waiting for.
What is Mehen?
Mehen is at the forefront of creating the USDM fiat-backed stablecoin, an essential tool for Cardano. USDM serves as a base asset for decentralized finance (DeFi) protocols and enables instant on-chain payments. Our vision is to be a scalable catalyst for the growth and adoption of the entire Cardano ecosystem.
Interviews and Video Content about USDM
The Cardano Native Asset Standard
Cardano’s unique approach allows users to create custom tokens, including fungible and non-fungible ones. These tokens, like ADA, offer unmatched security, efficiency, and interoperability, simplifying token creation and reducing vulnerabilities.
Licensing and Identity
Mehen operates within a robust regulatory framework, ensuring the rights of USDM tokenholders. Our commitment to transparency and compliance bridges the traditional financial system with the blockchain world.
On-Chain Verification & Minting
Mehen’s USDM is transparently verified by a 3rd party oracle. Our decentralized approach to reserve verification ensures that all token mints and burns are verified by an independent oracle service, raising the bar for fiat-backed stablecoins.
Strategic Partner - Xerberus Labs
We’re excited to announce a strategic partnership with Xerberus Labs to enhance the security and compliance of our USDM stablecoin within the Cardano ecosystem. This collaboration combines Xerberus’s expertise in blockchain analytics with our commitment to financial integrity, aiming to offer robust monitoring, a strengthened response framework, and enhanced security measures for USDM users and the broader Cardano community.
Building Adoption
Stablecoins like USDM are the bridge between blockchain and everyday transactions. Mehen is collaborating with payments companies to bring debit card swipe, chip-and-PIN, or tap-to-pay capability to Cardano, making USDM a part of your everyday life.
Frequently Asked Questions
Any cryptocurrency designed to have a relatively stable price, typically through being pegged to a commodity or currency or having its supply regulated by an algorithm.
USDM is a USD-backed stablecoin, issued on the Cardano blockchain. It is backed 1:1 by USD in a US-based bank, and can be purchased or redeemed for $1. The token conforms with the standard Cardano native token formats, with 6 decimal points, for maximum compatibility and compatibility within the Cardano blockchain ecosystem.
USDM is available for both ordinary individuals and institutions. The USDM token can be freely used and transferred within the Cardano blockchain as any other Cardano native token.
To mint and burn USDM directly from Mehen, users must be located in eligible jurisdictions must pass standard KYC/AML identity verification.
Latest from Our Blog
Dive deeper into the world of stablecoins, Cardano, and Mehen’s journey. Our blog offers insights, updates, and thought leadership in the DeFi space.
A fiat-backed stablecoin solution for the Cardano blockchain
Discover how Mehen aims to revolutionize the Cardano ecosystem with USDM, a transparent, fiat-backed stablecoin. Learn how this innovation tackles crypto volatility, enhances DeFi composability, and offers a secure fiat-to-ADA onboarding alternative.
USDM Empowering Cardano Community DeFi with the largest DEX on Cardano+ Minswap Community DAO Vote!
Minswap, dominating 75% of Cardano’s DEX volume, partners with USDM to offer enhanced DeFi yields. With a $90.98 million TVL, Minswap’s integration with USDM—a 1:1 USD-backed stablecoin—aims to unlock new capital efficiency. Innovations like Minswap Stableswap and the V2 upgrade are set to elevate Cardano’s DeFi scene. A community vote seeks to boost USDM liquidity, marking a crucial step for Minswap’s growth. Join the movement towards a robust DeFi future on Cardano.
Genius Yield Partners with Mehen to Launch USDM on Cardano
Genius Yield collaborates with Mehen to introduce USDM, a stablecoin, enhancing Cardano’s DeFi space. Set for launch the week of March 18, 2024, the initiative aims for financial stability and invites community engagement, offering a 1:1 USD-pegged stablecoin integrated into Genius Yield’s DEX with special incentives for early adopters.
More than just a stablecoin
Mehen’s vision goes beyond creating a stablecoin. As USDM grows, we aim to reinvest in the Cardano community, supporting projects that shape Cardano’s future, striving to be the most transparent stablecoin.