Guide: How to obtain mUSD

mStable guide series. This will be the first in a series of “how to guides” that will cover the basic mStable product suite, before getting into more advanced topics.

mUSD is mStable’s first mASSET, backed on-chain by a basket of USDT, USDC, DAI, and TUSD and over-collateralized by its governance token Meta, minimizing the risks over holding an individual stablecoin.

Tokenised assets display concentrated counterparty risk, and fragmentation. mStable unites assets into one optimised asset per peg.

In this article, we will walk through several ways users can obtain mUSD.

Mint new mUSD using the mStable App

Users can mint new mUSD tokens permissionlessly on-chain by depositing whitelisted collateral.

  • Head over to MINT on the mStable App
  • Under Send assets, select the asset(s) you’d like to deposit to mint mUSD

mStable’s minting interface

  • The UI will show you the corresponding amount of mUSD that will be minted (at a 1:1 ratio with zero slippage)
  • Confirm the transaction by pressing MINT
  • Ensure you have enough Ether in your wallet for network fees and proceed to sign the transaction

Swap your asset for mUSD on DEXes

Users can also obtain mUSD from decentralized exchanges such as Uniswap and Balancer.

On Uniswap

  • Head over to Uniswap to exchange your ERC-20 asset to mUSD

Uniswap DEX interface

  • Uniswap will exchange your asset to mUSD using the most efficient routing available on their platform

On Balancer

  • Head over to Balancer Exchange
  • Use the interface to swap between your input currency to mUSD
  • Balancer will route across multiple liquidity pools to find the lowest slippage for the trade

Balancer DEX interface

On Matcha

  • Head over to Matcha which handles routing through multiple exchanges
  • Enter mUSD as the search criteria and search for a relevant mUSD market
  • Make the trade with your input currency (ensure you have sufficient ETH for fees)

Swap your stablecoins for mUSD on Curve

Users can efficiently swap stablecoins in the 3POOL for mUSD on Curve

Curve now supports users to swap between supported stablecoins (DAI/USDC/USDT) in the 3POOL and mUSD in their new mUSD/3Pool metapool.

  • To get started, make sure you’re on the mUSD/3POOL metapool page
  • Under the From section, select the stablecoin you wish to swap for mUSD
  • Make sure that the output in the To section is mUSD
  • Approve the contract and click Sell
  • You can configure maximum slippage and gas price in the advanced options


mUSD is a flexible and powerful tokenized version of the USD that not only increases security and stability through mStable’s diversification of collateral but provides a radically simple user experience for the end-user.