USD.infra transparency
USD.infra is a dollar stablecoin backed 1:1 by $M held in its extension vault. $M is minted by approved minters against eligible collateral, short-dated U.S. Treasury securities, as defined by M0 governance. Figures below are read from public on-chain data and the M0 Protocol.
Stablecoin reserves summary
How a dollar becomes USD.infra
- 01You request USD.infra with USDC
Your order is quoted and routed through M0's Orchestration API. USDC is released only as the order fills; any unfilled amount is refunded.
- 02A solver delivers USD.infra
USD.infra is $M wrapped 1:1 by the USD.infra extension. It arrives in your wallet when the solver fills the order.
- 03$M is minted against collateral
Approved minters hold eligible collateral off-chain in special purpose vehicles. Validators verify it, and each mint waits through a mandatory delay.
- 04$M stays locked
The $M behind each USD.infra sits in the extension vault until USD.infra is unwrapped or redeemed.
Sources and methodology
USD.infra supply and $M backing are read directly from Solana: the mint's supply and the extension vault's $M token account, at the current block.
These figures are read from public data and are not an audit or third-party attestation.
How USD.infra works in the docs ↗$M supply and collateral are read from the M0 MinterGateway contract on Ethereum: total $M owed, and each approved minter's attested collateral with the time validators accepted it.
Eligibility rules for collateral, minters and validators are published by M0 governance.
M0 eligible collateral ↗