Ozean Partners with Mountain Protocol: Introducing USDM to Oxygen (O2)
Ozean, the blockchain for RWA yield being launched by Clearpool, is delighted to announce the integration of USDM by Mountain Protocol into Oxygen (O2), the innovative RWA liquidity layer on Ozean.
USDM is a regulated, permissionless, and yield-bearing stablecoin, currently offering 5% APY. It is designed to maintain a consistent value pegged to the US dollar, making it a reliable digital asset for transactions and savings. Peg is kept by having primary customers buy/sell USDM at $1 and by the short-term US Treasury bills held as collateral for USDM on a bankruptcy remote SPV: USDM Reserves Ltd. Current TVL is $61M distributed between Ethereum, Arbitrum, Optimism, Polygon PoS and Base.
Institutional Backing and Enhanced Security
USDM’s integration into O2 is bolstered by Mountain Protocol’s collaboration with BlackRock’s BUIDL fund, facilitated through Securitize (BlackRock’s tokenization platform for BUIDL). This institutional backing enhances the security and yield potential of USDM, offering users additional trust and potentially higher yields within the Ozean ecosystem. Mountain Protocol has received funding from prominent investors in the crypto space, such as Coinbase Ventures, Multicoin Capital, Castle Island Ventures, among others.
“We’re pleased to bring USDM to Ozean’s O2 liquidity layer. This integration aligns with our goal of offering a transparent, yield-generating stablecoin within DeFi, which Ozean is enabling through the development of their innovative RWA ecosystem,” said Martin Carrica, CEO & Co-founder of Mountain Protocol
Regulatory Compliance and Transparency
Mountain Protocol is a regulated entity by the Bermuda Monetary Authority (Class F license #202302512). This regulatory oversight ensures a high-standard of compliance and safety for USDM holders. The stablecoin maintains transparency through collateral proof of reserves and third-party attestations (link).
Oxygen (O2) — Ozean’s RWA Liquidity Layer
O2 is designed to provide liquidity for the Ozean ecosystem by combining various assets, including RWAs, tokenized treasuries, and yield-bearing tokens. USDM joins other assets in O2, supporting functionalities like swaps, lending, and collateralisation.
“Integrating USDM into O2 enhances our liquidity layer with a regulated, yield-bearing stablecoin. We’re pleased to welcome Mountain Protocol to the Ozean ecosystem and look forward to deeper collaboration as we scale our ecosystem and offerings,” said Jakob Kronbichler, CEO & Co-founder of Clearpool.
Ozean aims to revolutionize DeFi by integrating RWAs in a compliant manner, allowing users to earn native yield on-chain automatically. As a permissionless Ethereum Layer 2 with an optional compliance layer, Ozean fosters interoperability among permissioned protocols.
O2’s dynamic rebalancing mechanism ensures the liquidity pool’s assets maintain target allocations. For details on asset weightings, refer to the first Ozean Improvement Proposal (OIP 001).
About Ozean
Ozean is the blockchain for RWA yield being launched by Clearpool. Powered by the CPOOL token, Ozean revolutionizes DeFi by seamlessly integrating RWAs in a compliant and user-friendly manner, enabling users to earn native yield on-chain automatically. Launched in March 2022, Clearpool has originated over US$640 million in loans with a growing user base spanning both crypto and TradFi institutions such as Wintermute, Jane Street, Fasanara Digital, CoinShares, and others.
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