Stablecoin event
Mountain Protocol advances USDM to Phase 3 wind-down
Mountain Protocol ended normal issuer-platform redemption and moved the remaining USDM reserve and exit process into its Phase 3 on-chain wind-down structure.
ImpactHigh
Detail kindTermination
Sources3
Mountain Protocol USD
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Mountain Protocol
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| Date | — |
|---|---|
| Event type | Wind Down |
| Event detail kind | Termination |
| Stablecoin subjects | Mountain Protocol USD |
| Organization subjects | Mountain Protocol |
| Impact | High |
| Effect on stablecoin status | Winding Down |
| Recovery / reversal | Not applicable / unresolved |
| Recovery date | — |
| Cause or mechanism | Public information is incomplete. |
| Record confidence | High |
| Source | Publisher | Type | Evidence scope |
|---|---|---|---|
| USDM wind-down overview | Mountain Protocol | Official Statement | Wind Down Phases, Issuance Status, Rewards Transition, Wind Down Plan |
| Mountain Protocol Phase 3 terms | Mountain Protocol Limited | Terms of Service | Former Issuer, Platform Redemption Termination, Wind Down Overseer, Phase3 Legal and Redemption Status |
| USDM Phase 3 ongoing proof of reserves | Mountain Protocol | Official Documentation | Onchain Reserve, Stablecoin Backing, Exit Contract, Phase3 Reserve and Exit |
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