DeGate has launched stablecoin USDM

Order book DEX DeGate based on ZK Rollup has launched the stablecoin protocol USDM under Mountain Protocol, which supports the USDM/USDC trading pair.

Earlier, Mountain Protocol, the stablecoin for yield, announced the completion of its seed round financing, led by Nic Carter of Castle Island Ventures, with participation from Coinbase Ventures, New Form Capital, Daedalus Angels, and others.

In addition, Wintermute has partnered with Mountain Protocol to enhance USDM liquidity. This partnership provides a way for non-US users to obtain US Treasury bond yields, and will also allow users to exchange USDM for USDC at any time through Wintermute's liquidity supply, avoiding bank-side risks associated with USDM reserves.