MetaMask USD

MetaMask USD (MUSD) is a fiat-backed stablecoin issued by MetaMask, designed to maintain a value of one US dollar per token. It is intended for people who use MetaMask products and want a stable digital balance they can move between crypto networks, convert to and from traditional currency, or spend through the MetaMask Card. The core problem it aims to solve is reducing the friction and delay that typically accompanies moving money between the traditional financial system and blockchain-based applications.

MUSD is classified as a fiat-backed stablecoin, meaning each token is intended to be supported by real-dollar reserves held off-chain, with the token representing a claim on those reserves. It operates across multiple blockchain networks, including the Linea and Monad ecosystems, allowing transfers and settlement wherever it is supported. No consensus algorithm or block time is recorded for the token itself, as it is an asset that rides on top of existing networks rather than operating its own chain.

The data stored for MUSD does not include a fee stream, revenue figures, or any record of protocol-level income, which means fee-based measures that this site calculates for other assets are not applicable here. The circulating supply stands at approximately 30,858,935.9 tokens on a point-in-time basis, and supply has grown by roughly 17.35 percent over the last 30 days. The ratio of fully diluted value to market cap is recorded at 1.012959 at this point in time, and a dilution overhang of approximately 1.30 percent is noted, reflecting the small gap between tokens already in circulation and the broader potential supply.