Introducing $M Backed USDXL

HypurrFi and the Last Network are thrilled to announce a forthcoming integration with M0 to use $M as a yield-backed reserve for USDXL.

USDXL is a unique stablecoin design in that it functions as a CDP instrument, where a peg to $1 is encouraged by accepting USDXL at $1 for debt positions on HypurrFi, and over time, uses revenue to back the USDXL supply with $M.

$M is a digital dollar building block for builders. Backed by a hyper-transparent basket of US treasuries, $M allows builders to extend it into their own safe, programmable, interoperable stablecoin.This means that as USDXL revenues purchase $M, the treasury grows and provides yield for protocol growth via sustainable incentives.

The recently announced stkUSDXL pool earns 50% of USDXL revenue. The other portion will be used to grow the $M-backed reserve, and over time direct the $M yields to HypurrFi protocol growth.

This backing provides three major benefits:

1. $M is a stable fiat-backed reserve asset, providing a benchmark of value for USDXL.

2. Using $M allows USDXL to be interoperable with any other $M-backed stablecoin such as the Halo HUSD and Noble Dollar’s USDN.

3. Programmable native yield that works as a sustainable, compounding flywheel to continually add additional $M to the USDXL reserve.

Using treasury assets to support the hybrid USDXL model has been part of the roadmap and documentation since USDXL’s inception. $M has emerged as a best in class partner to help bring this vision to life.

Deposit and Borrow from HypurrFi lending markets on Hyperliquid here.

Become an expert and review technical and risk documentation here.

Join the community for discussion, memes, and troubleshooting here.

And follow us on X.