mtUSDT vaults
- This stablecoin does not have a price feed available at the moment and we are unable to display peg/depeg rates.
About Mutuum Finance USDT
mtUSDT represents USDT deposited in the Mutuum Finance lending protocol. It is a yield-bearing receipt token that accrues interest from borrowers. Mutuum Finance provides decentralised lending and borrowing on Ethereum.
mtUSDT is a yield-bearing receipt token issued by Mutuum Finance, a decentralised, non-custodial liquidity protocol on Ethereum. When a lender deposits USDT into the Mutuum Finance lending pool, they receive an equivalent amount of mtUSDT that automatically accrues interest over time as borrowers pay back loans with interest.
Mechanism
Mutuum Finance uses a Peer-to-Contract (P2C) model: lenders deposit assets such as USDT or ETH into shared liquidity reserves, and borrowers draw from these pools by providing over-collateralised assets. The interest rate adjusts dynamically based on pool utilisation. mtUSDT tokens serve as 1:1 proof of deposit and appreciate in value relative to USDT as the pool earns interest — similar to Aave's aToken model.
The protocol's V1 was deployed to the Sepolia testnet in early 2026 after a fundraising round that exceeded $20 million from over 19,000 participants. Mainnet launch was targeted to follow the testnet phase. A planned Phase 2 also includes a native over-collateralised stablecoin backed by on-chain collateral.
Key properties
- 1:1 receipt token: 1 mtUSDT = 1 USDT deposited, appreciating as interest accrues
- Yield sourced from over-collateralised borrowers on the same pool
- Non-custodial: users retain control; the smart contract holds reserves
- Initial supported assets: USDT and ETH
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