Mochi Protocol is a cross-chain, autonomously governed decentralized stable currency protocol fully backed by a wide variety of crypto assets, including long-tail and yield-bearing assets. Mochi offers governance-free listing and condition-based stable currency minting capacity. Mochi adjusts collateral specific vault parameters such as collateral factor, liquidation factor, credit cap, and stability fees automatically based on liquidity depth (calculated using a variety of reliable and stress-tested data sources) and credit utilization to provide the most capital efficient overcollateralized loans to users while minimizing the risk of the shortfall for the protocol to protect and maintain solvency. Mochi unlocks productivity in a diverse variety of collateral, including long-tail, staked, wrapped, and yield-bearing assets, to unlock new value and accelerate DeFi innovation.

The USDM stablecoin is soft pegged to the USD and Mochi helps maintain the peg with dedicated, highly capital efficient stable pegged-asset pools. This value is fully backed by overcollateralized vaults with credit parameters assigned based on total on-chain liquidity and credit utilization.