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 operates a dual-token system in which msUSD is the yield-generating token and smsUSD is the staking token, both built on the Ethereum and Sonic ecosystems. The project is aimed at users seeking yield from options arbitrage strategies rather than traditional lending or simple collateral-backing.

The protocol generates yield by exploiting differences between implied and realized volatility in options markets, a strategy the project describes as options arbitrage, as distinct from the basis trade used by some comparable protocols. MSUSD exists on the Ethereum and Sonic ecosystems, and the circulating supply of 75,493,020.76 tokens is fully issued with no additional supply pending or held back, as reflected in a supply-issued percentage of 100 and a dilution overhang of 0. Users who wish to earn yield stake msUSD to receive smsUSD, which represents their share of the strategy's returns.

The data provided does not include a direct fee revenue figure for the protocol, so fee-based measures such as fee yield or protocol revenue are not available on this page. The yield the protocol targets is derived from options market inefficiencies rather than fees charged to users, meaning any economic return flows from trading activity rather than a conventional fee stream. The stablecoin circulating supply stands at 41,912,092.41 as measured at a single point in time, and supply grew by approximately 0.607 percentage points over the prior 30 days.