Mountain Protocol has launched its yield-based stablecoin, USDM, on ZKsync Era. ZKsync users can now earn yield by holding USDM in their wallets and using it for various purposes such as payments, settlements, and contributing to liquidity pools. The stablecoin offers an annualized interest rate of 4.7% and is pegged 1:1 to the US dollar. A wrapped version of the stablecoin, wUSDM, reflects price growth as USDM rewards accrue to holders. USDM and wUSDM are now available for trading on ZKsync DEX platform SyncSwap, but are still not accessible to US citizens and other restricted countries and jurisdictions.



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