A unique stablecoin backed by stablecoin.
This is a project we’ve been working on for some time that we’re finally ready to announce. Not only will it be a significant boon to the value and utility aspects of TOTEM, which we’ll elaborate on later in this article, but MUSD is exciting in its own right.
It’s a brand new stablecoin model that has never been done before, taking inspiration from modern stablecoin frameworks such as Tomb and BDollar, and improving on their foundations by minimizing the element of uncertainty.
MUSD is backed 1:1 by DAI which is the best stablecoin and the most decentralized. The unique feature of MUSD is that it has 0.7% of every transaction, the fees collected will be used to buy back Totem!
Is there a risk of using MUSD
Yes, all smart contracts have poised a risk and you need to DYOR before interacting with smart contracts. Our smart contracts are forked from Apeswap GNANA which is audited, https://www.bscscan.com/address/0x603c7f932ED1fc6575303D8Fb018fDCBb0f39a95#code Our Moyai minter : https://ftmscan.com/address/0x2bd01b291647a9956205aeb07134fdd96b1b0ef9#code
MUSD is backed by a 1:1 ratio, so it's not possible for what happened to Tomb Finance to happen with MUSD.