M^0

About - mrUSD is a US Treasury-backed stablecoin powered by M0 for the Meridian x402 ecosystem. Learn more about Meridian at https://mrdn.finance • Extension Name: MERIDIAN USD •Targeted Chains: BASE CHAIN • Extension Ticker: mrUSD Yield Distribution - This uses the YieldToOne extension. All yield earned will go to the Meridian ecosystem for future investments in growth of the ecosystem and gas subsidy of x402 payments.

Website: https://mrdn.finance

Use Cases mrUSD will have 2 main use cases in the Meridian ecosystem:

1. Medium of Exchange - mrUSD can be used in x402 transactions given it supports EIP-3009 enabling it to be used as a USD equivalent token in payments on Base.
2. Payment Settlement & Float - In Meridian’s first party x402 contract, mrUSD can be used as the primary asset with balances being held in mrUSD to earn yield to subsidize payments for the long-term. Our contract requires a user to withdraw their balance after payments are processed, in the interim funds can be held in mrUSD.

Roadmap for Inflows There are 4 avenues that can drive inflows for mrUSD:

1. Payment Volume - x402 payment volumes are steady at over $2M of transaction volume per day, Meridian’s innovative approach to x402 will be able to capture a significant portion of that volume. We will offer no fees on x402 transactions made with mrUSD which should drive demand for mrUSD to be used.
2. Contract Float - Our x402 implementation has a middleware contract that enhances the standard while maintaining its interface, this contract holds balances of payments yet to be withdrawn. As the float grows inside the contract we can use mrUSD as the default within the user’s balances and can build a float that generates yield for Meridian Association.
3. Treasury - Meridian Association will hold its treasury in mrUSD instead of USDC or other equivalents.
4. LP & Trading Pair - We will be opening an LP with MRDN/mrUSD with lower trade fees to incentivize holding mrUSD and allowing an initial use case that encourages holding for those who collect payments in mrUSD.

Security & Compliance Meridian USD will use the Predicate authorized freezer across all chains that mrUSD is present on to enforce compliance with OFAC and sanctions.