mStable USD
Perfil del Stablecoin
mStable USD (MUSD) es una stablecoin colateralizada por cripto: los usuarios acuñan MUSD bloqueando otros criptoactivos como sobrecolateral, con 3,2 M US$ actualmente en circulación a través de 3 redes blockchain. El anclaje a USD se mantiene mediante subastas de liquidación cuando el valor del colateral cae por debajo de los umbrales requeridos. Fuente de precio obtenida vía defillama.
Acerca de mStable USD (MUSD)
mUSD is USD-pegged cryptoasset on Ethereum and Polygon backed by a basket of selected USD stablecoins.
Using the mStable app, users can swap an accepted stablecoin to mint mUSD 1:1. mUSD can be redeemed for another stablecoin 1:1 at any time.
Actividad reciente de suministro
mStable USD (MUSD) supply was unchanged in the last 24 hours, expanded by 0 US$ over the past week, and contracted by 44,8 US$ over the past 30 days.
Steady issuance: supply has held roughly flat (-0.00% over 30 days), consistent with mature stablecoin liquidity dynamics.
Historial de Suministro
Network distribution
mStable USD circulates across 3 blockchain networks. Ethereum hosts the largest share at 89.59%, followed by Polygon at 10.34%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Cadena | Suministro | Cuota | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | 2,9 M US$ | 89.59% | 0.00% | 0.00% |
| Polygon | 332,3 mil US$ | 10.34% | 0.00% | -0.01% |
| Gnosis | 2,5 mil US$ | 0.08% | 0.00% | 0.00% |
Historial de estabilidad del anclaje
As a crypto-collateralised stablecoin, mStable USD (MUSD) maintains its 1.00 USD target by holding excess on-chain collateral and routing redemptions through automated liquidation auctions. Spot price is currently $1.0022 (+0.222%); short-term excursions are normal in this range are typically arbitraged away within hours via the protocol's open mint/redeem mechanics.
Cómo las stablecoins crypto-collateralised defienden su anclaje
Crypto-collateralised stablecoins like this one over-collateralise positions — borrowers must lock more than $1.00 of crypto for each $1.00 of stablecoin minted. If collateral value falls below the required ratio, the position is automatically liquidated in an open Dutch auction. Arbitrageurs can always mint and redeem against the protocol's contracts, which keeps the secondary-market price tightly bounded around $1.00. The main residual risks are sudden crypto-collateral crashes that outpace the liquidation engine, and oracle failure.
Implicaciones prácticas para los tenedores
- Collateral volatility is the dominant risk: a fast drawdown in the collateral asset can outpace liquidation auctions and leave the protocol under-collateralised.
- Oracle risk: the protocol relies on price feeds (typically Chainlink or a multi-oracle setup). Oracle manipulation or delay during volatile markets has historically caused peg excursions.
- Governance risk: parameter changes (collateral types, liquidation ratios, debt ceilings) are decided by token-holder votes. Sudden governance attacks remain a tail risk.
- On-chain transparency is a major advantage — collateral is verifiable 24/7 without trusting an attestor.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (crypto-collateralised) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Direcciones de contrato
mStable USD (MUSD) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Cadena | Dirección del contrato | Verificar |
|---|---|---|
| Ethereum | 0xe2f2a5c287993345a840db3b0845fbc70f5935a5 | Explorador |
Las direcciones de contrato provienen del perfil de stablecoins de DeFiLlama. Algunas cadenas (Tron, Solana, Aptos, Sui) usan formatos de dirección no EVM. El enlace "Explorador" abre el explorador de bloques oficial de la cadena correspondiente; no enlazamos a exploradores de terceros que puedan mostrar datos alterados.
Comparar mStable USD con otras stablecoins crypto-collateralised
Below are the largest crypto-collateralised stablecoins tracked on Mantapex alongside mStable USD (MUSD). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Suministro | Mecanismo | Cadenas |
|---|---|---|---|
| Sky Dollar (USDS) | 8396,9 M US$ | crypto-backed | 6 |
| Ethena USDe (USDe) | 5921,4 M US$ | crypto-backed | 23 |
| Dai (DAI) | 4553,5 M US$ | crypto-backed | 48 |
| Falcon USD (USDf) | 1636,3 M US$ | crypto-backed | 2 |
| USDD (USDD) | 1095,4 M US$ | crypto-backed | 4 |
Entre clases de mecanismos
If you're researching MUSD as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Estabilidad del Anclaje
Distribución por Cadena
Recursos y fuentes de datos
mStable USD (MUSD) is tracked across major crypto data providers. The links below open mStable USD (MUSD)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Noticias recientes de mStable USD
Latest reporting from major crypto news outlets covering mStable USD.
- Finbold
Mezo's MEZO and MUSD go live on Bullish Exchange
Bitcoin-native lending protocol Mezo has listed its MEZO governance token and MUSD stablecoin on Bullish Exchange, an institutional digital asset platform operated by Bullish…
- Blockonomi
Mercado Pago Discontinues Mercado Coin in Favor of MUSD Stablecoin
Latin America's leading fintech platform Mercado Pago has announced the termination of its Mercado Coin initiative, pivoting instead to a stablecoin-based rewards system. This…
- Crypto news
Mezo leans on Aerodrome's veAERO flywheel to grow MEZO and MUSD on Base
Mezo will stream 2.25% of MEZO supply to Aerodrome's veAERO voters over 30 days, betting Base's vote-escrow whales can bootstrap deep MEZO and MUSD liquidity for Bitcoin DeFi.
- The Daily Hodl
Crypto Wallet Giant MetaMask Tops Santiment's New Development Activity Rankings – Here Are the Other High-Scoring Projects
The crypto wallet provider MetaMask has taken the top spot in Santiment's latest rankings for overall development activity, according to new data from the blockchain analytics…
- Crypto Economy
MetaMask's mUSD Sees 4x Growth in First Week After Launch
TL;DR Growth surge: MetaMask's mUSD supply expanded from $15 million at launch to $65 million within a single week, marking a fourfold increase that highlights strong user demand…
- Coinspeaker
MetaMask Stablecoin mUSD Breaks Supply Milestone in 7 Days: Details
MetaMask's mUSD stablecoin has seen its circulating supply jump from 15 million to 65 million within 7 days.
- The Block
MetaMask's mUSD stablecoin tops $65 million supply a week after launch
MetaMask's mUSD saw its circulating supply rise to 65.6 million as of early Monday morning, up from about 15 million a week earlier.
- Coingape
MetaMask to Integrate Hyperliquid's Perpetuals In-Wallet Following mUSD Launch
Crypto wallet MetaMask looks set to integrate Hyperliquid's perpetuals trading on its platform. This development follows the wallet's rollout of its mUSD stablecoin and amid plans…
Stablecoins relacionadas
Stablecoins comparable to mStable USD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Otras stablecoins crypto-backed
Stablecoins vinculadas a USD
Mayores stablecoins por suministro
Aviso de Riesgo
Las stablecoins conllevan riesgos que incluyen la pérdida del anclaje, cambios regulatorios y riesgo de contraparte. Siempre diversifique y haga su propia investigación.