Stablecoin depeg >2% on shared-LP venue

M^0's assessment for RD-F-104 — scored green on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

M^0 does not hold USDT/USDC/DAI as primary collateral reserves. Collateral is off-chain T-bills posted by permissioned Minters; the earner-rate is set by TTG governance. Protocol architecture is structurally isolated from conventional stablecoin depeg cascades. Signal threshold (stablecoin depegs > 2% AND protocol exposure >= 5% of TVL) not met by design. No active stablecoin depeg event as of assessment date.

Sources #

Docs
M0 Protocol Overview — RWA-backed stablecoin with T-bill collateral, not stablecoin-to-stablecoinM0 overview: $M is backed by permissioned Minters posting off-chain T-bill collateral; earner-rate is governance-set index, not a stablecoin-pegged-to-stablecoin structureretrieved 2026-05-16

Methodology #

Detect whether a stablecoin in this protocol's dependency graph depegs >2% on a venue with shared liquidity.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol m0 factor RD-F-104 score green collected_at 2026-05-16 09:46:19