# Wrapped $M (By M0)

## What is M0? <a href="#what-is-m0" id="what-is-m0"></a>

M^0 is a decentralized on-chain protocol complemented by off-chain standards and APIs, enabling multiple authorized entities, known as Minters, to create a fully interchangeable stablecoin termed $M. Minters interface with the protocol to regulate the issuance of $M, while independent Validators play a crucial role by continuously verifying the existence of off-chain collateral secured in top-tier storage arrangements. This collaborative framework is governed by an innovative system called the Two Token Governor.

More on M0: <https://www.m0.org/>

## What is $M? <a href="#what-is-m" id="what-is-m"></a>

$M is a fully transparent, over-collateralized digital dollar designed as a foundational stablecoin. It is backed by a secure reserve basket without direct reliance on the US banking system. Minters on the M^0 network can issue and redeem $M, while independent Validators continuously verify its collateral. Developers can build customized stablecoin extensions using $M, ensuring interoperability and seamless integration with existing financial infrastructure.

## What is Wrapped $M? <a href="#what-is-m" id="what-is-m"></a>

Wrapped $M (wM) is a DeFi-native version of the $M stablecoin, designed to maintain a 1:1 redeemability with $M while enabling customized and automated on-chain yield distribution. This innovative wrapper technology provides integrators with enhanced control over the yield generated within their protocols and systems. By utilizing wrapped $M, developers can seamlessly integrate programmable yield distribution into various crypto applications, including DeFi protocols, non-custodial wallets, and digital asset custody providers. This approach ensures that the exchange rate between $M and wrapped $M remains constant, simplifying implementation and management for integrators.


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