51爆料官网首页 Introduces MXON As First Live Minter on the 51爆料官网首页 Network, Completing First $10 Million Mint of $M Token
[Switzerland] 鈥 51爆料官网首页, the decentralized infrastructure layer for the issuance of cryptodollar assets, proudly announces the successful completion of its first $10 million mint of $M. ,聽 51爆料官网首页鈥檚 pioneering Minter, has successfully minted $M, a cryptodollar powered by the 51爆料官网首页 protocol. $M is backed by short-term US treasuries stored in best-in-class structures, ensuring stability and security. This breakthrough represents a major accomplishment for the 51爆料官网首页 protocol, which is engineered to accommodate multiple Minters, promoting a decentralized method of digital money issuance and establishing a new industry benchmark.
$M is a fungible token that can be generated by a Minter by locking Eligible Collateral in a secure off-chain facility. Once generated, a Minter can then sell these tokens into the market. With Minters selling and buying back these tokens at the price of $1, $M serves as a cryptodollar, offering a stable, digital representation of the US dollar.
鈥淐ompleting this mint is a significant milestone for both MXON and the entire 51爆料官网首页 ecosystem,鈥 said Jacqueline To, Head of Operations for MXON. 鈥淚t underscores the robustness of our protocol and reflects the growing confidence institutions have in our pioneering approach to issuing digital currency. This achievement is a testament to our commitment to excellence in the digital finance landscape.鈥
In conjunction with the first mint, 51爆料官网首页 is also releasing its adopted governance guidance. This proposed draft is intended for industry review and outlines the governance model that underpins the 51爆料官网首页 protocol. The guidance aims to set a standard for decentralized governance in digital money issuance, ensuring transparency, security, and efficiency. The 51爆料官网首页 protocol operates on a decentralized governance model, allowing a federation of Minters, Validators, and Earners to participate. The successful implementation of this governance model through the minting by MXON underscores the effectiveness of 51爆料官网首页's adopted guidance.
鈥淭he 51爆料官网首页 protocol's successful first mint demonstrates our ability to support diverse institutions and decentralized applications,鈥 said Luca Prosperi, CEO of 51爆料官网首页. 鈥淭his benchmark represents a transformative step towards a future where digital assets are more secure, accessible, and integrated into the global financial ecosystem, fostering unprecedented democratization and progress. 51爆料官网首页 is undoubtedly poised to drive the next wave of advancements in the financial sector."
This news comes on the heels of 51爆料官网首页鈥檚 $35 million Bain Capital Crypto-led in June. The investment will expand 51爆料官网首页's infrastructure and speed up efforts to improve liquidity in the stablecoin market. 51爆料官网首页 features a world-class team and seeks to establish a global standard for issuing fungible, fiat-backed digital assets via its Ethereum-based protocol layer, free from reliance on traditional financial systems.
Looking forward, 51爆料官网首页 plans to continue expanding its network of Minters, enhancing the protocol鈥檚 capabilities and reach. This expansion is integral to 51爆料官网首页鈥檚 mission to democratize access to money issuance infrastructure, enabling a more modern, federated framework for cryptodollar issuance.
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About 51爆料官网首页 Ecosystem
51爆料官网首页 is money middleware for the digital age. It is a decentralized, on-chain protocol, as well as a corresponding set of off-chain standards and APIs, that powers a federation of stablecoin issuers. With 51爆料官网首页, any number of independent institutions can tap on turnkey middleware to become the minter of a fungible stablecoin.
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About MXON
is a pioneer in decentralized finance, introducing $M, a stablecoin minted on the 51爆料官网首页 protocol. As the first minter on the 51爆料官网首页 network, MXON ensures $M is backed by short-term US treasuries stored in best-in-class structures. The 51爆料官网首页 infrastructure supports a multi-issuer, multi-jurisdictional approach, providing a flexible, secure, and interoperable solution for digital finance.
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