USDMNY

Overview

USDMNY is a fiat-backed stablecoin used as base collateral across lending protocols and the dominant quote asset on DEX pools. The asset functions as the default cash leg in most DeFi positions. Its role as a settlement asset makes lending and LP-quoting the two largest yield surfaces for this type of asset. Two active pools, spanning 2 chains and 1 protocol, accept USDMNY, with the best APY reaching 6.92% on a conservative supply-side strategy. The limited venue count narrows the choice to a single chain set and one protocol family. This concentration exposes users to less diversification but also fewer integration risks. Tracked TVL sits at $504K, indicating moderate liquidity in these pools. APY variance is driven mainly by lending utilisation rates on dominant chains. The headline risk for USDMNY lies in depegging events, with additional smart-contract exposure when the asset is wrapped or routed through aggregators. Given the conservative nature of the yield strategies available, contract and routing risks are relatively low compared to higher-yield venues.

Composed 2026-05-21 from the structured data above. See methodology for the full pipeline.