mUSD

the defi dollar at the core of mirage protocol

mUSD - the mirage dollar is minted by providing high quality collateral such as USDC, APT, or MOVE, taking on an over-collateralized debt position.

mUSD serves as margin on the mirage market perps dex. minters of mUSD act as the counterparty to traders, and as a result earn a significant portion of protocol fees. these fees go toward paying down the mUSD debt required to unlock deposited collateral. in this respect, mUSD functions as a self-repaying stablecoin loan.

mirage assets can also be used in a variety of leverage and hedging strategies across the Aptos ecosystem. for more details, see yield strategies.

in the future, mirage plans to implement yield-bearing strategies on deposited collateral to further accelerate the self-repaying mechanism. see Alchemix for more details on how this is possible.