MUSD vaults
About MUSD vaults
mStable USD MUSD is used in 3 stablecoin vaults with $2.3M TVLacross 1 protocol. The largest vaults are Mock Vault USD, Interest bearing mUSD, Re7 Labs USD Clusterand the most popular vault protocol is Euler. The last 30 days' average yield is 3.1%.
2 vaults are excluded from this ranking due to minimum TVL requirements or risk issues.
About mStable USD
mStable USD (mUSD) was a meta-stablecoin that combined USDC, DAI, and USDT into a single token to reduce single-stablecoin risk. The mStable protocol has been deprecated and the website now hosts an entirely different project.
mUSD was issued by the original mStable Protocol, a stablecoin aggregation protocol on Ethereum. Users could deposit any of the constituent stablecoins (USDC, DAI, USDT) and receive mUSD at a 1:1 rate, then redeem back.
Mechanism
- Basket of USDC, DAI, and USDT held in equal proportions
- Any constituent could be swapped for another via the mStable AMM at low fees
- Save (imUSD) was the yield-bearing variant deployed into Aave and Compound
- Also available on Polygon
Status
The original mStable protocol has been deprecated. The mstable.com domain now redirects
to a completely different protocol (a Pendle-based yield product that reused the brand name).
The original mUSD contract on Ethereum (0xe2f2a5C287993345a840Db3B0845fbC70f5935a5)
still exists with approximately 2.9 million mUSD in circulation and 8,770 holders.
The DeFiLlama page defillama.com/stablecoin/musd refers to the original mStable mUSD.
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Performance and risk
The vaults on the listing are limited to the current category. See all vaults.
| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Re7 Labs USD Cluster Euler | 3.1% | 3.2% | 2.2% | 5.9 | 0.5% | 0.0% | mUSD | $61.63K $141.40M | 1.0 | 0.0%/ 20.0% | Instant | Negligible |  | ||
Interest bearing mUSD Unknown vault protocol | 0.0%* | 0.0%* | 7.1%* | --- | 0.0% | 0.0% | mUSD | $1.02M $29.47M | 4.4 | --- | Unknown | Unknown |  | ||
Mock Vault USD Unknown vault protocol | 0.0%* | 0.0%* | 0.0%* | --- | 0.0% | 0.0% | mUSD | $1.16M $1.25M | 0.7 | --- | Unknown | Unknown |  |
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