We are excited to launch our Retail Beta Program for USDM! This marks a significant milestone as we bring the power of our fiat-backed stablecoin, USDM, directly to retail users. We invite you to participate in shaping the future of decentralized finance on the Cardano blockchain.

Beta Tester Eligibility

To qualify as a beta tester for USDM, you will need to meet the following requirements:

1. Identity Verification (KYC Process)

As a regulated entity in the United States, we follow a thorough KYC (Know Your Customer) process to ensure compliance with legal requirements. Beta testers must provide their real name and submit a government-issued ID for identity verification. Rest assured, your data is secure and handled exclusively through our trusted partner, Plaid.

2. Location Requirements

To mint USDM, users must be physically present in one of our operational states. While international users from non-sanctioned countries are welcome, they must also be physically located in an eligible U.S. state when minting.

Our operational states are:

• California, Colorado, Connecticut, Delaware, Florida, Hawaii, Kansas, Massachusetts, Missouri, Montana, New Hampshire, North Dakota, Pennsylvania, Tennessee, Utah, Virginia, Wisconsin, and Wyoming.

3. Patience with Transaction Times

As we work closely with traditional financial institutions (TradFi), transactions will adhere to standard banking schedules. Depending on your bank, it may take up to two business days for your transaction to clear and your USDM to be minted. We appreciate your patience as we refine the minting process.

4. USD Transactions Only

Currently, we only accept U.S. dollars (USD) to mint USDM. We do not accept ADA or other fiat currencies during this program phase.

5. Constructive Feedback

Your feedback is critical to the success of this program! As a beta tester, we ask that you take detailed notes on your experience, provide constructive feedback on the minting and burning process, and share any bugs or edge cases you encounter. We aim to refine our processes, enhance our customer service systems, and improve overall user experience. Your participation will directly contribute to these improvements.

How Does It Work?

We’re thrilled that you’re interested! Here’s a breakdown of the next steps:

• In the next Moneta Newsletter, you will receive a link to an application form for the Beta Program. The form will collect relevant data needed to determine if you qualify for the program.
• Within a few days of submitting your application, you will receive a notification informing you whether you’ve been selected as part of the first round of beta testers or placed on the waitlist. Be sure to keep an eye on your inbox for the September edition of the Moneta Newsletter!

We are incredibly excited to welcome retail users to the USDM ecosystem. We look forward to your feedback and support as we continue to build a stable, compliant, and scalable DeFi solution on the Cardano blockchain. Let’s shape the future of decentralized finance together!

Stay tuned, and thank you for being a part of this exciting journey!