Main Street USD

Main Street USD (MSUSD) is a stablecoin designed to maintain a value of one US dollar while generating yield for its holders through delta-neutral trading strategies. It targets users who want dollar-denominated exposure combined with returns derived from options arbitrage rather than simply holding idle dollars. The protocol claims to address the inefficiency between implied and realized volatility in options markets, positioning itself as a complement to basis-trade stablecoins like Ethena.

The protocol operates on both the Ethereum and Sonic ecosystems using a dual-token structure: MSUSD is the yield-generating stablecoin itself, while smsUSD is a separate staking token that represents a staked position in the system. Yield is intended to be produced through options arbitrage strategies that are delta-neutral, meaning the protocol seeks to avoid directional exposure to the underlying assets it trades. No consensus algorithm or block time is recorded for this asset, which reflects its nature as a token-layer instrument rather than a base-layer blockchain.

The data provided does not include a fee stream, fee recipients, or protocol revenue figures, so fee-based performance measures cannot be calculated for this asset from what is stored here. The circulating stablecoin supply stands at 29,166,427.62 on a point-in-time basis, and that supply grew by approximately 0.609505 over the prior 30 days. The fully diluted value equals the market capitalization, giving an FDV-to-market-cap ratio of 1.0, which means no additional token supply is held in reserve or pending unlock beyond what already circulates.