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Record sog_st_musd

mUSDmStable USD

Also recorded as mUSD, mStable USD, mStable mUSD

Restricted

Lifecycle: Restricted
Issuance: Unknown
Reference target: US dollar
Primary organization: mStable
No additional recorded relationship
Launch: Not yet recorded
Redemption: Protocol Redemption
Backing: Hybrid or mixed
Stabilization: Protocol arbitrage
Last review: 2026-06-25
Evidence: 8 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

Basket-backed meta-stablecoin from mStable, historically minted and redeemed against selected USD stablecoins on Ethereum and Polygon. It is now treated as a legacy product with withdrawal and contract-exit paths rather than a current flagship issuance product.

Name	mStable USD
Symbol	mUSD
Aliases	mUSD, mStable USD, mStable mUSD
Asset class	Stablecoin
Lifecycle status	Restricted
Issuance status	Unknown
Canonical record ID	`sog_st_musd`
Route slug	`musd`
Record confidence	Medium
Last reviewed	2026-06-25

Name: mStable USD
Symbol: mUSD
Aliases: mUSD, mStable USD, mStable mUSD
Asset class: Stablecoin
Lifecycle status: Restricted
Issuance status: Unknown
Canonical record ID: sog_st_musd
Route slug: musd
Record confidence: Medium
Last reviewed: 2026-06-25

Record coverage

Section	Entries
Organizations	1
Sources	8
Reserve reports	0
Reserve components	1
Model-history events	0
Regulatory notes	0
Deployments	1
Issuer-control actions	0
Open questions	3
Events	3

Organizations and control

Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.

Governance: DAO Governed
Primary display organization: mStable
Primary display role: Protocol operator
Relationship coverage: 1 recorded relationship

Control and relationship coverage

Display selection mode: Deterministic Policy
Current relationships: 1
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 1 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 1 not recorded
Deployment control-event references: 0
Observed issuer-control events: 0

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
mStable	Protocol or software system	Protocol or decentralized system	Unknown or not publicly resolved	Protocol operator	Primary display	Not yet recorded	Not yet recorded	Active relationship

Protocol or software system

mStable

Primary display

Functional role: Protocol operator
Relationship status: Active relationship
Regulatory character: Protocol or decentralized system
Jurisdiction: Unknown or not publicly resolved
From: Not recorded
Until: Not recorded

Mechanism

How the asset works

Primary operating facts are shown first. Classification and methodology details remain available below.

Reference target: US dollar
Public backing model: Hybrid or mixed
Primary stabilization mechanism: Protocol arbitrage
Redemption / exit model: Protocol Redemption
Valuation source: mUSD basket accounting and legacy contract state
Yield / rebase profile: No recorded change · Accrual: No recorded change

Classification and mechanism details

Reference kind: Fiat
Comparison category: US dollar
Target value: 1
Reference methodology: mUSD targeted one U.S. dollar through a basket of approved USD stablecoins and protocol mint/redemption mechanics.
Canonical backing types: Stablecoin Collateral, Mixed
Reserve component categories: Stablecoin Collateral
Recorded model description: Basket Backed Meta Stablecoin
Classification notes: Legacy basket-backed asset with residual withdrawal or contract-exit paths. Current issuance availability remains unresolved.

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

Stablecoin collateralStablecoin Collateral

Reserve profile

Disclosure status	Protocol Transparent But Legacy
Backing types	Stablecoin Collateral, Mixed
Summary	mUSD was backed by a basket of approved USD stablecoins with protocol weight limits and mint/redemption accounting. Historical documentation lists Ethereum and Polygon baskets, but current residual basket composition and active issuance state require direct contract review.
As of	2026-06-14
Profile confidence	Medium

Disclosure status: Protocol Transparent But Legacy
Backing types: Stablecoin Collateral, Mixed
Summary: mUSD was backed by a basket of approved USD stablecoins with protocol weight limits and mint/redemption accounting. Historical documentation lists Ethereum and Polygon baskets, but current residual basket composition and active issuance state require direct contract review.
As of: 2026-06-14
Profile confidence: Medium

Redemption profile

Current status	Restricted
Settlement asset	Supported basket assets or legacy withdrawal outputs through remaining contracts and interfaces
Eligible parties	Users able to interact with legacy mStable contracts, withdrawal tooling, or remaining liquidity routes.
Retail access	Legacy Contract or Withdrawal Route
Institutional access	Legacy Contract or Withdrawal Route
Minimum amount	Contract, liquidity, and gas dependent.
Fee	Swap, redemption, liquidity, and network costs may apply.
Settlement time	Contract and network dependent.
Regional limits	Access depends on legacy contracts, remaining basket liquidity, interfaces, chain state, and transaction costs.

Current status: Restricted
Settlement asset: Supported basket assets or legacy withdrawal outputs through remaining contracts and interfaces
Eligible parties: Users able to interact with legacy mStable contracts, withdrawal tooling, or remaining liquidity routes.
Retail access: Legacy Contract or Withdrawal Route
Institutional access: Legacy Contract or Withdrawal Route
Minimum amount: Contract, liquidity, and gas dependent.
Fee: Swap, redemption, liquidity, and network costs may apply.
Settlement time: Contract and network dependent.
Regional limits: Access depends on legacy contracts, remaining basket liquidity, interfaces, chain state, and transaction costs.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
No reserve reports have been added yet.

No reserve reports have been added yet.

Deployments and legal context

Network state, contract identity, legal notices, and value states remain separate.

Blockchain deployments

Network	Standard	Deployment type	Operational state	Contract or identifier
Ethereum	Not yet recorded	Historical or legacy deployment	Restricted	0xe2f2a5C287993345a840Db3B0845fbC70f5935a5
Technical, canonicality, and control fields Network record state Specific network recorded Canonical deployment type Legacy Canonical Issuance Recorded status Restricted Change or proposal state No separate change state recorded Canonicality Legacy deployment Canonicality record state Canonicality recorded Verification state Identifier recorded; verification not recorded Contract identity state Identifier recorded Freeze Not yet recorded Blacklist Not yet recorded Control events 0 Notes Official Ethereum mUSD token. Source code was submitted for verification on 2020-05-28. The exact creation transaction, first permissionless mint, and canonical public-launch day remain unresolved.

Network

Ethereum

Restricted

Standard: Not yet recorded
Deployment type: Historical or legacy deployment
Contract or identifier: 0xe2f2a5C287993345a840Db3B0845fbC70f5935a5

Technical, canonicality, and control fields

Network record state: Specific network recorded
Canonical deployment type: Legacy Canonical Issuance
Recorded status: Restricted
Change or proposal state: No separate change state recorded
Canonicality: Legacy deployment
Canonicality record state: Canonicality recorded
Verification state: Identifier recorded; verification not recorded
Contract identity state: Identifier recorded
Freeze: Not yet recorded
Blacklist: Not yet recorded
Control events: 0
Notes: Official Ethereum mUSD token. Source code was submitted for verification on 2020-05-28. The exact creation transaction, first permissionless mint, and canonical public-launch day remain unresolved.

Regulatory and official notices

Date	Title	Authority / publisher	Type	Summary
No regulatory notes have been added yet.

No regulatory notes have been added yet.

Evidence

Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.

8 source identities · 8 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
mUSD asset documentation Published Not yet recorded	mStable Documentation	Official documentation or product page Canonical: Official Documentation	Subject-controlled source	Primary source	Asset Mechanics, Basket Backing, Mint Redemption	Archive index or wildcard	High
mStable Save and imUSD documentation Published Not yet recorded	mStable Documentation	Official documentation or product page Canonical: Official Documentation	Subject-controlled source	Primary source	Adjacent Asset Boundary, Imusd Distinction, Yield Layer	Archive index or wildcard	High
mStable current product site and relaunch materials Published Not yet recorded	mStable	Official statement or announcement Canonical: Official Statement	Subject-controlled source	Primary source	Current Product Focus, Legacy Transition, Organization Status	Archive index or wildcard	High
mStable legacy withdrawal application Published Not yet recorded	mStable	Official documentation or product page Canonical: Official Application	Subject-controlled source	Primary source	Legacy Withdrawal Path, Redemption Exit, Current Interface	Direct archived snapshot	High
mUSD Ethereum contract and source verification Published 2020-05-28	Etherscan	On-chain record or explorer Canonical: Onchain Contract	Technical primary source	Primary source	Contract Identity, Source Verification Date, Deployment Readiness, Ethereum Contract Identity and Verification	Archive index or wildcard	High
mStable Now Live on Mainnet Published 2020-05-29	EthFinance community link record	Archive or historical record Canonical: Contemporaneous Record	Archive capture	Primary source	Candidate Launch Date, Mainnet Availability, Contemporaneous Mainnet Availability Record	Archive index or wildcard	Medium
DeFi Produces COMP Short Selling Published Not yet recorded	The Defiant	Independent news or analysis Canonical: News Article	Independent third-party source	Secondary source	Candidate Launch Date, Early Protocol History, Historical Launch Date Support	Archive index or wildcard	Medium
mStable bug bounty and production security scope Published Not yet recorded	mStable Developer Documentation	Official documentation or product page Canonical: Official Documentation	Subject-controlled source	Primary source	Security Program Start, Masset Contracts, Mint, Swap, Redeem, Save, Production Security and Functionality	Archive index or wildcard	High

Official documentation or product page

mUSD asset documentation

High

Publisher: mStable Documentation
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Asset Mechanics, Basket Backing, Mint Redemption
Archive: Archive index or wildcard
Reliability: High

Official documentation or product page

mStable Save and imUSD documentation

High

Publisher: mStable Documentation
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Adjacent Asset Boundary, Imusd Distinction, Yield Layer
Archive: Archive index or wildcard
Reliability: High

Official statement or announcement

mStable current product site and relaunch materials

High

Publisher: mStable
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Current Product Focus, Legacy Transition, Organization Status
Archive: Archive index or wildcard
Reliability: High

Official documentation or product page

mStable legacy withdrawal application

High

Publisher: mStable
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Legacy Withdrawal Path, Redemption Exit, Current Interface
Archive: Direct archived snapshot
Reliability: High

On-chain record or explorer

mUSD Ethereum contract and source verification

High

Publisher: Etherscan
Published: 2020-05-28
Provenance: Technical primary source
Primary or secondary: Primary source
Supported claims: Contract Identity, Source Verification Date, Deployment Readiness, Ethereum Contract Identity and Verification
Archive: Archive index or wildcard
Reliability: High

Archive or historical record

mStable Now Live on Mainnet

Medium

Publisher: EthFinance community link record
Published: 2020-05-29
Provenance: Archive capture
Primary or secondary: Primary source
Supported claims: Candidate Launch Date, Mainnet Availability, Contemporaneous Mainnet Availability Record
Archive: Archive index or wildcard
Reliability: Medium

Independent news or analysis

DeFi Produces COMP Short Selling

Medium

Publisher: The Defiant
Published: Not yet recorded
Provenance: Independent third-party source
Primary or secondary: Secondary source
Supported claims: Candidate Launch Date, Early Protocol History, Historical Launch Date Support
Archive: Archive index or wildcard
Reliability: Medium

Official documentation or product page

mStable bug bounty and production security scope

High

Publisher: mStable Developer Documentation
Published: Not yet recorded
Provenance: Subject-controlled source
Primary or secondary: Primary source
Supported claims: Security Program Start, Masset Contracts, Mint, Swap, Redeem, Save, Production Security and Functionality
Archive: Archive index or wildcard
Reliability: High

Known unknowns

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
Current Mint and Redeem State	The current availability of normal mUSD minting, basket redemption, and every legacy frontend route has not been fully verified against live contracts.	Unknown after review	High	2026-06-14
Residual Basket and Crosschain State	Current Ethereum and Polygon basket composition, feeder-pool state, liquidity depth, and cross-chain support require direct contract-level review.	Unknown after review	Medium	2026-06-14
Exact Public Launch Boundary	The Ethereum contract verification is fixed to 2020-05-28, May 29 is the strongest recovered mainnet-live candidate, and official production-security coverage is fixed to 2020-06-05. The original first-party launch announcement, exact creation transaction, and first permissionless mint remain unresolved.	Unknown after review	Low	2026-06-25

Current Mint and Redeem State

The current availability of normal mUSD minting, basket redemption, and every legacy frontend route has not been fully verified against live contracts.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-14

Residual Basket and Crosschain State

Current Ethereum and Polygon basket composition, feeder-pool state, liquidity depth, and cross-chain support require direct contract-level review.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-14

Exact Public Launch Boundary

The Ethereum contract verification is fixed to 2020-05-28, May 29 is the strongest recovered mainnet-live candidate, and official production-security coverage is fixed to 2020-06-05. The original first-party launch announcement, exact creation transaction, and first permissionless mint remain unresolved.

Value state: Unknown after review
Priority: Low
Last checked: 2026-06-25

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

No separate model-change event is currently recorded.

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2020-05-29	mStable mainnet availability is reported	Launch and introduction	Mainnet Availability Report	Remained active	Not applicable
2020-06-05	mStable production security program covers core mUSD functions	Security and chain incident	Production Security Program Start	Remained active	Not applicable
2026-01-23	mUSD remains a limited legacy product during the mStable relaunch	Redemption change	Redemption Change	Restricted or impaired	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.