Glossary
M^0
An institutional stablecoin issuance infrastructure — M is a permissioned-issuance, decentralized-validator USD stablecoin minted against tokenized Treasury collateral.
M^0 is a stablecoin issuance protocol where a curated set of approved minters (banks, exchanges, payment processors) mint the M stablecoin against on-chain tokenized Treasury collateral. Off-chain oversight uses a "TTG" (Two-Token Governance) system where validators and stakers separately police protocol decisions.
The model is closer to a regulated-issuance backbone than to a single-issuer stablecoin like USDC. M^0 targets institutional and B2B usage as a programmable, transparent USD primitive.