Simple Summary

This publication proposes onboarding MetaMask's mUSD stablecoin to the Core instance of Aave v3 on Ethereum and Linea.

Motivation

MetaMask USD (mUSD) is a dollar-denominated stablecoin natively integrated into MetaMask. mUSD is issued by Bridge, a Stripe company, and stablecoin issuance and orchestration platform. On-chain MetaMask USD is powered by M0, a decentralized stablecoin infrastructure and liquidity platform. mUSD will be deeply integrated into MetaMask’s wallet, offering users a seamless, dollar-denominated stablecoin experience for holding, spending, and transacting in web3.

Key properties

• Wallet-native: deeply integrated across MetaMask UX and supported dapps.
• Multi-chain at launch: Ethereum Mainnet and Linea and will play a foundational role in the growing Linea DeFi ecosystem and network expansion.
• Interoperable: designed for cross-chain liquidity via the M0 network.
• Transparency-first: reserve management by Bridge with real-time reporting. mUSD is fully backed 1:1 by high-quality, liquid dollar-equivalent assets. Bridge provides real-time transparency reporting, with independent attestations to follow. The launch aligns with new U.S. regulatory clarity under the GENIUS Act.

Payments & MetaMask Card

mUSD supports on-ramps, swaps, bridging, and will soon be spendable via the MetaMask Card at millions of Mastercard merchants.

Specification

The table below illustrates the configured risk parameters for mUSD on Ethereum.

Oracle

The table below illustrates the configured risk parameters for mUSD on Linea.

Oracle

References

• Implementation: AaveV3Ethereum, AaveV3Linea
• Tests: AaveV3Ethereum, AaveV3Linea
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.