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.

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.

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

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Mountain Protocol

# Active addresses (daily) Methodology

## Overview

Active addresses (daily) measures the number of unique addresses that make a transaction with a project, i.e. An application or a blockchain. Daily active addresses are measured over a fixed 24-hour window.

## Data sources

- Raw blockchain transaction records and metadata
- Smart contract events and program instructions
- Asset metadata for address and project identification

## Common calculation approaches

### Transaction-level identification
Unique addresses are extracted from the sender field of raw transaction records on blockchains such as Tron and Aptos. For networks including Solana, signer addresses are tracked from both successful and failed transactions—specifically from program instructions—to represent total daily demand.

### Event-based activity tracking
Activity is identified from specific smart contract interactions to measure engagement for individual applications or assets. For example, recipient addresses are extracted from ERC-20 `Transfer` events from World Mobile Token contracts on World Mobile Chain to proxy for active service subscribers.

### Multi-layer ecosystem aggregation
Daily user activity is combined across primary networks and their respective scaling solutions to provide an ecosystem-wide view. Transaction data is aggregated across multiple layers within the BNB Chain ecosystem to capture the total number of unique addresses interacting with the network.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique active addresses over a fixed 24-hour window.

Mountain Protocol

Active addresses (daily)

Active addresses (daily)

Competitive landscape

Chain breakdown