M0

• Name: M0
• URL: https://www.m0.org/
• Category: Stablecoin issuance protocol / programmable stablecoin platform
• Tags: ethereum-ecosystem solana-ecosystem
• Summary: M0 is a permissioned issuer framework for admitted operators, not a neutral dollar layer. What matters is minter admission, collateral policy, extension inheritance, and who gets to define canonical movement inside the stack.
• What it does:
  • Runs an onchain protocol for minting and burning $M via permissioned actors that lock eligible collateral
  • Uses governance, validators, and adopted offchain guidance to standardize issuance rules and collateral requirements
  • Lets builders create application-specific stablecoins (“M0 Extensions”) that inherit the underlying platform’s collateral and yield properties
  • Provides shared-liquidity and conversion infrastructure through SwapFacility, enabling approved extensions to convert 1:1 within the ecosystem
  • Maintains supporting components such as Wrapped $M, TTG (Two Token Governance), portal contracts for cross-chain movement, and reference repos for Ethereum and Solana implementations
• Key claims:
  • The site and docs describe M0 as the “universal stablecoin platform” and emphasize that builders can create their own application-specific stablecoins rather than rely only on one-size-fits-all issuer products
  • The whitepaper abstract describes the core M0 protocol as a coordination layer for permissioned institutional actors to generate $M
  • Platform-mechanics docs emphasize eligible collateral standards, a mint ratio, a minter rate, an earner rate, and automatic onchain fee/reward distribution rather than manual offchain settlement flows
  • Extension docs present M0 Extensions as the application layer, with customization over yield routing, access controls, branding, and fee models while inheriting the base platform’s collateral framework
  • Deployment docs state that the M0 protocol and TTG were deployed to Ethereum mainnet on 2024-05-07 and Wrapped $M on 2024-08-14; these dates come from official docs and are useful anchor points for the project’s live footprint
• Whitepaper: An official whitepaper exists in M0’s docs as HTML pages rather than a standalone PDF in this pass; see ../whitepapers/m0-primary-sources-2026-04-23.md for the local snapshot and source links.
• Sources:
  • https://www.m0.org/
  • https://docs.m0.org/get-started/overview/
  • https://docs.m0.org/home/fundamentals/whitepaper/abstract/
  • https://docs.m0.org/get-started/protocol-mechanics/
  • https://docs.m0.org/home/technical-documentations/extensions/
  • https://docs.m0.org/get-started/resources/addresses/
  • https://docs.m0.org/llms.txt
  • https://github.com/m0-foundation

Internal linkages

• Best anchors: circle-usdc, paxos, and cctp.

Control surface

• Practical authority sits in minter admission, collateral eligibility, governance and validator policy, extension approval, and crosschain canonicality.

• M0 is more protocolized than a plain issuer, but it still concentrates power in the institutions allowed inside the minting perimeter.

• Read it as an issuance framework for approved operators, not as an unowned stablecoin base layer.

• Last reviewed: 2026-06-03 UTC