Verify what backs a stablecoin
DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.
Deprecated. This stablecoin is no longer offered or maintained. The figures below are historical and are not updated, and it is excluded from the league table and the map's rollups.
Supply
Chains
Holders on Ethereum
USDM is a USD stablecoin issued by Mountain Protocol, launched on 11 Sep 2023.
At least 1.4M USDM in circulation, counting only the chains DIA could read.
Excludes Celo, where DIA holds a verified contract address that this read did not cover and gave no reason for.
1.4M USDM
Read on 6 chains. Not yet read on Celo, so this is a floor.
Ethereum 91.4% · other chains 8.6%
Ethereum1.3M USDM · 91.4%
zkSync58.6K USDM · 4.2%
Arbitrum45.3K USDM · 3.2%
Base9.3K USDM · 0.7%
Optimism5.2K USDM · 0.4%
Polygon2.1K USDM · 0.1%What the 10 largest addresses are
Shares of the 10 largest addresses' balance, contracts included, from public address labels covering 95.2% of it. Exchange custody is one address holding for many end holders. Unattributed addresses have no public label.
Counted on Ethereum. Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
Source: Blockscout.
2,053holders on Ethereum
| USDM | |
|---|---|
| Top holder | 2.0% |
| Top 10 | 5.0% |
| Top 50 | 5.9% |
| Top 100 | 5.9% |
Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
How far USDM trades from its USD peg, from DIA's daily price reads.
Its collateral sits in onchain positions that anyone can read, so there is no fiat reserve to attest.
Reserve attestation cadence
Collateral is held in onchain positions and can be read directly; there is no fiat reserve to attest.
Licensed elsewherelicence tier of Mountain Protocol
5 days are left blank: chain coverage changed or a contract read failed, so those totals are not comparable.
Source: DIA onchain reads Updated
Source: Blockscout, Ethereum Updated
Source: DIA price feed Updated
Ethereum