- #5585
USD Mars USDM
USDM Price
Market CapÂ
--Rank #5585FDVÂ
$0.00Rank #11454Investors
Twitter Followers
Twitter Performance
206Rank by Twitter #6667- 0
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Detailed Performance
USDM shows Bullish signs against top cryptocurrencies, leading categories and blockchains over various time periods
USDM to USD Converter
Price History
- All-Time High
- $19.0319.27x to ATH
- All-Time Low
- $0.00983100.49x to ATL
- Trade Launch Date
- 6 Dec, 2021
896 days ago
About USDM
USD Mars (USDM) is a stablecoin within the Mars Ecosystem. It is a price stable and decentralized digital currency that is designed to maintain a stable value against the US dollar. USDM is over-backed, meaning its redeemability is backed by the Mars Ecosystem Governance Token (XMS). The market cap of XMS is always higher than the market cap of USDM, ensuring that the stablecoin can be redeemed at a 1:1 ratio at any time. USDM is designed to be an ideal medium of exchange and store of value for decentralized finance (DeFi) applications.
What makes USD Mars unique?
Mars Stablecoin (USDM) stands out from other cryptocurrencies due to its unique features. Firstly, it is a price stablecoin, meaning its value is designed to be stable and not subject to the high volatility often seen in other cryptocurrencies. This stability makes USDM a reliable medium of exchange and store of value within the decentralized finance (DeFi) ecosystem.
Another key aspect that sets USDM apart is its capital efficiency. The redeemability of USDM is backed by the Mars Ecosystem Governance Token (XMS), ensuring that the stablecoin can always be redeemed at a 1:1 ratio. This over-backing mechanism provides a strong guarantee for the stability of USDM.
Scalability is also a distinguishing feature of USDM. The Mars Ecosystem integrates the creation and use of the stablecoin into a decentralized ecosystem, allowing for efficient and seamless transactions between USDM and other tokens within the DeFi space. This integration creates a positive feedback loop and generates a flywheel effect, enhancing the scalability of USDM.
Additionally, USDM's unique value proposition lies in its alignment with the Mars DeFi platform. The transaction fees generated at Mars Swap, a liquidity provider, are utilized to back the stability of Mars Stablecoin. This ensures that the stability of USDM is actively maintained in a self-sustaining manner.
Lastly, the Mars Ecosystem is an open and decentralized protocol that encourages collaboration and development. The Mars Treasury provides funding to projects that contribute to the adoption of Mars Stablecoin, fostering innovation and growth within the ecosystem.
Overall, the combination of price stability, capital efficiency, scalability, and integration with the Mars DeFi platform make USD Mars distinct and advantageous compared to other cryptocurrencies.
Live USD Mars Price Data
The current price of USD Mars (USDM) is approximately $0.9878, reflecting a increase of 2.22% in the last 24 hours. The USDM trading volume in the last 24 hours stands at $62.57.
For a comprehensive list of exchanges, visit our crypto exchanges page. To understand USD Mars's performance over time, consider exploring its price history and ROI. For in-depth analysis and insights on USDM, check out our crypto insights page.
USDM to USD Converter
Price History
- All-Time High
- $19.0319.27x to ATH
- All-Time Low
- $0.00983100.49x to ATL
- Trade Launch Date
- 6 Dec, 2021
896 days ago