USDM - Mehen Stablecoin
The Mehen Project is more than just a fiat-backed Cardano-native asset. Mehen Finance will be an audited and licensed fiat-backed stablecoin issuer, minting the USDM token, a Cardano-native asset. A directly-convertible-to-fiat token, USDM can serve as the backbone of the emerging Cardano deFi ecosystem. Since it is redeemable 1:1 for USD, the USDM token will be a reliable store of value on the Cardano blockchain. And since it is a Cardano-native asset, the token will be natively-compatible with defi protocols - lending, borrowing, etc. Once USDM achieves scale, we will begin re-deploying proceeds back into the Cardano community, further building the future of our blockchain.