M (by M0)

What is M0?

M^0 is an on-chain protocol, as well as a set of off-chain standards and APIs, that allows multiple Minters to issue a fully fungible stablecoin called $M. Minters connect to the protocol to manage the supply of $M, while Validators support the process independently by providing near-constant information on the presence of off-chain collateral held in best-in-class storage structures. This coordination is underpinned by a novel governance mechanism called the Two Token Governor.

Website of M0.

What is M?

$M is a fungible token that can be generated by a Minter by locking Eligible Collateral, currently short term T-bills, in a secure off-chain facility. Once generated, a Minter can then sell these tokens into the market. With selling and buying back these tokens at the price of $1, $M serves as a stablecoin, offering a stable, digital representation of the US dollar. $M can also be used as raw material to create other stablecoin products.