Cardano’s Premiere Fiat-backed Stablecoin
Vote for our Catalyst Fund 10 Proposal to unleash Cardano’s DeFi potential
Catalyst Fund 10 Proposals
Fund 10 is here and Mehen is putting their name is the goblet of fire! We would love your support! Please check out our Fund 10 Proposals in the link above!
Trustworthy, Bold, and Community-bootstrapped
As a regulated 1:1 USD fiat-backed stablecoin, you can convert USDM to equivalent US Dollars at any time.
Read the Mehen Project White Paper here.
Trustworthy — Finance team has 21+ years of experience in fiduciary TradFi, managing 2a-7 funds and Fortune 50 company cash portfolios.
Lead Developer is a Stake Pool Operator with 24+ years of experience in Angular, Java, SpringBoot, DevOps, SysAdmin, and automation.
Cultivating trust through verification and transparency, USDM adheres to regulatory compliance and provides reserve composition oversight with the use of 3rd party Oracles and service providers (like Charli3 and Plaid, respectively).
Bold — Operating as a Cardano Native Asset, your USDM cannot be arbitrarily seized or frozen in your wallet. This increases USDM’s composability, bridging the gap between Traditional Finance and Cardano’s blossoming Decentralized Finance ecosystem.
Community-bootstrapped — Providing a fiat-to-ADA onboarding alternative to centralized exchanges for the Community, by the Community. After USDM achieves scale, a significant portion of the yield generated by the USDM reserve portfolio will be deployed into projects building the future of Cardano via the Mehen Foundation.
Perseverance in the Face of Adversity
Not getting funded during Catalyst Fund 9 did not stop this collection of active stake pool operators, community leaders, investors, NFT creators, blockchain developers, and full-stack software engineers that composes the Mehen team.
Now, in the heart of the Bear Market, we are excited to announce that USDM is live on testnet.
After spending countless hours building/testing, securing Licensing in # states, and receiving $0 in Catalyst/VC Funding take a look at what we’ve been able to accomplish:
Just the Beginning…
Beyond the scope of this F10 proposal, subsequent targets for development will include (but are not limited to) the following:
- Additional languages for the website
- Launching the Mehen Foundation
- Re-using this technology to launch stablecoins in currencies besides USD
- Licensing KYC-verified wallets for use in broader regulated applications (Digital IDs)
- Debit Card
- Treasury Management / Corporate Services
Central banks estimate up to 20% of deposits could transition to newer digital money formats and Citigroup estimates Tokenization of financial and real-work assets could be the killer use case driving blockchain breakthrough with tokenization expected to grow by a factor of 80x in private markets and reach up to almost $4 trillion in value by 2030.1, 2
The future of the world’s financial system lies on Cardano. Vote for our proposal to counter crypto volatility and bridge the Traditional Finance and DeFi ecosystems.