Mountain Protocol
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Protocol TVL
About Mountain Protocol
Mountain Protocol presents USDM—a cutting-edge, yield-bearing, rebasing stable coin. Rooted in the stability of Treasury Bills and enhanced by the promise of returns, USDM is more than just a crypto token—it's a gateway to trusted and compliant decentralized finance. With its fully regulated, permissionless design, engage with a crypto experience that combines the best of tradition, innovation, and security.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
How Mountain Protocol's TVL is measured
DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.
Calculates the total USDM Supply
If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.
Security & Audits
Mountain Protocol Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Oct 5, 2023Listed on DeFiLlama
Protocol Profile
Mountain Protocol operates in the RWA category of DeFi. It is deployed across 6 chains, including Ethereum, zkSync Era, Arbitrum, Base and 2 other chains. The codebase has been independently audited (1 report on file).
TVL Distribution by Chain
TVL spans 6 chains across the deployment. See the breakdown below for per-chain values.
Supported Chains
Protocol Footprint
Mountain Protocol runs a multi-chain deployment, with smart contracts live on 6 networks. Roughly 99% of its on-chain value sits on just three networks (Ethereum, zkSync Era, Arbitrum), so a fault on any one of them would affect a large slice of users. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.
Official Resources & Links
Verified external resources for Mountain Protocol — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other RWA protocols on Mantapex
Mountain Protocol is one of 7 RWA protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Tether Gold, BlackRock BUIDL, Paxos Gold, and 3 more. These peer protocols collectively secure $14.3B in deposits, giving you a frame of reference for whether Mountain Protocol's own TVL is at the top, middle, or tail of the category.
Recent Mountain Protocol news
Latest reporting from major crypto news outlets covering Mountain Protocol.
- Crypto news
Mountain Protocol's USDM natively deploys on ZKsync Era
Mountain Protocol has announced the native issuance of its yield-bearing stablecoin USDM on ZKsync Era. The launch enables ZKsync (ZK) users to leverage the USDM stablecoin in…
- BeInCrypto
Mountain Protocol Integrates Chainlink CCIP for USDM Stablecoin
Mountain Protocol, the issuer of the USDM stablecoin, announced an integration of Chainlink CCIP. This cross-chain interoperability platform aims to increase user security and…
- Cryptonews
Anchorage Digital Acquires Mountain Protocol to Expand Stablecoin Services
Anchorage Digital, the only federally chartered digital asset bank in the US, is expanding its stablecoin capabilities through the acquisition of Mountain Protocol. The post…
- Cointelegraph
Anchorage Digital buys Mountain Protocol, USDM stablecoin winds down
Crypto bank Anchorage Digital has expanded its stablecoin offerings with the acquisition of Mountain Protocol, a stablecoin issuer that says it will begin winding down its main…
- The Block
Anchorage Digital acquires Mountain Protocol as stablecoin issuer sunsets USDM
The acquisition coincides with Mountain Protocol's decision to sunset USDM, which has seen its supply constrict to $50 million.
- Blockchain News
Injective (INJ) Integrates Mountain Protocol to Introduce Tokenized T-Bills
Injective (INJ)has integrated with Mountain Protocol to launch USDM, a yield-bearing stablecoin, enhancing the DeFi ecosystem with tokenized treasury bills.
- Cryptopolitan
Anchorage enters stablecoin arms race with Mountain Protocol buy and USDM wind-down
Crypto-focused bank Anchorage Digital has announced the acquisition of USDM yield-bearing stablecoin issuer, Mountain Protocol. In a statement on May 12, the company said the deal…
- Bitcoin
Anchorage Digital Acquires USDM Stablecoin Issuer Mountain Protocol
Crypto bank Anchorage Digital has announced an agreement to acquire Mountain Protocol, the issuer of the USDM stablecoin. Expanding Anchorage's Stablecoin Capabilities Anchorage…
Related protocols
Other DeFi protocols connected to Mountain Protocol by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other RWA protocols
Top protocols on Ethereum
Fork lineage & related versions
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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