MCUSD, issued by the Moola Market Protocol smart contracts under the governance of MOO tokenholders, is an interest-bearing deposit receipt token representing a supplied balance of Celo Dollars (cUSD) plus accrued yield within a non-custodial onchain liquidity protocol. [S1][S2]

Holders supply Celo Dollars (cUSD) into the protocol's liquidity pools and receive mcUSD, which accrues variable-rate interest compounding each block and accumulating as additional mcUSD balance rather than as a distribution. [S1][S3] Interest rates are utilization-based, rising for both depositors and borrowers as borrower demand relative to supply increases, and depositors additionally earn from flash-loan borrowers who pay a fixed fee of 9 basis points. [S3] The protocol charges no deposit or withdrawal fee; holders bear Celo network transaction fees. [S1][S4]

MCUSD is issued by the Moola Market Protocol, a non-custodial set of open-source smart contracts on Celo rather than a single corporate entity, with onchain governance by MOO tokenholders and execution concentrated in a 4-of-10 multisig. [S1][S2] The holder's claim is a transferable cERC20 mToken representing the deposited cUSD plus accumulated yield, redeemable directly from the protocol contracts. [S1][S3] Access is permissionless through a supported wallet, with no minimum or maximum deposit limits. [S3] Depositors may withdraw the underlying cUSD at any time without time restriction, subject to available liquidity. [S3]

MCUSD follows the cERC20 (Celo ERC-20) token standard and is issued only on the Celo network. [S1][S2] Depositing cUSD mints mcUSD 1:1; withdrawal burns mcUSD and returns the underlying cUSD plus accrued yield, redeemed 1:1 without a NAV or pricing oracle. [S1][S3] Settlement occurs onchain on Celo at block level. [S1]

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://docs.moola.market/master.md" },
    { id: "S2", url: "https://docs.moola.market/moo.md" },
    { id: "S3", url: "https://docs.moola.market/deposit-and-earning.md" },
    { id: "S4", url: "https://docs.moola.market" },
  ]}
/>


Tokenized funds

twitter

website

documentation

Lending

Moola Market

Moola Celo Dollars (MCUSD) is a tokenized fund share issued by Moola Market.

Each token is a direct claim on the issuer.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with Moola Market.

MCUSD has been issued on Celo as an ERC-20 token since September 2021.

Moola Celo DollarsMCUSD