# Mountain Protocol

> Track Mountain Protocol with daily standardized on-chain data across 8 chains. Compare Mountain Protocol with other stablecoin issuers. Updated daily.

Source: [Mountain Protocol on Token Terminal](https://tokenterminal.com/explorer/projects/mountainprotocol). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Sectors: Stablecoin issuers
- Chains: arbitrum, avalanche, base, celo, ethereum, optimism, polygon, zksyncera

## About

### What it is

The project issues USDM, a permissionless yield-bearing stablecoin that provides daily rewards to holders while maintaining full collateralization through US government securities. USDM operates as an ERC20 token across multiple blockchains including Ethereum, Polygon, Arbitrum, and others, offering institutional-grade stability with bankruptcy remote asset protection.

### Who uses it

Mountain Protocol is a regulated financial institution that operates a yield-bearing stablecoin protocol backed by short-term US Treasuries.

### How it works

Mountain Protocol operates through a dual-user system where primary users (verified businesses) can mint and redeem USDM directly at $1, while secondary users can acquire tokens through exchanges and DeFi protocols. The protocol uses a daily rebasing mechanism to distribute yields, with reserves held in segregated accounts composed exclusively of short-term US Treasuries to minimize counterparty risk.

## Metrics

Token Terminal tracks these metrics for Mountain Protocol daily. Each page has a chart with the full history.

- [Active addresses (daily)](https://tokenterminal.com/explorer/projects/mountainprotocol/metrics/active-addresses-daily)
- [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/mountainprotocol/metrics/active-addresses-weekly)
- [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/mountainprotocol/metrics/active-addresses-monthly)
- [Transaction count (contracts)](https://tokenterminal.com/explorer/projects/mountainprotocol/metrics/transaction-count-contracts)
- [Gas used](https://tokenterminal.com/explorer/projects/mountainprotocol/metrics/gas-used)

## Links

- [twitter](https://x.com/MountainUSDM)
- [website](https://mountainprotocol.com/)