mStable USD MUSD

Ethereum EcosystemStablecoinsDecentralized Finance (DeFi)USD StablecoinOlympus Pro EcosystemFiat-backed Stablecoin

mStable USD performs among the top thanks to team governance and roadmap delivery, with economic models remaining the main focus and currently holding an E rating.

Rating updated 2026-08-01
E12.77 / 100

Sector Rank #1221 · Global Rank #2128

Roadmap Delivery37.5F
Technical Implementation----
Tokenomics0F
Team Governance55.2E
Market Ecosystem1.41F
Security & Compliance0F
01

Overall Rating

E · 12.77 / 100
Roadmap Delivery
37.5
Tokenomics
0
Team Governance
55.2
Market Ecosystem
1.41
Security & Compliance
0
Overall Score
12.77

mStable USD has an overall rating Ef E (total 12.77), ranking high in team governance, roadmap delivery, and market ecosystem across six dimensions. The main point of deduction is the economic model (0 points) — mainly affected by chip concentration (0 points) and short- to medium-term selling pressure (0 points).

Rating Team Conclusion: "mStable USD has relative advantages in team governance, roadmap delivery, and market ecosystem, but its current shortcomings are concentrated in its economic model." " It is recommended to observe cautiously and not use it as a core configuration basis for now.

02

Six-Dimension Rating Breakdown

Roadmap Delivery

34.5/100

Roadmap On Time Delivery Rate?Lack of public roadmaps and on-time data delivery.Weight 35%Insufficient data · 40 / 100

Last 4 upgrades achieved?Recent development activity trends are zero, and upgrade deliveries may be insufficient.Weight 30%Somewhat less · 10 / 100

Milestones to Deliver?Lack of publicly available milestone information to be delivered.Weight 20%Insufficient data · 50 / 100

History Extension Record?Lack of public records of historical extensions.Weight 15%Insufficient data · 50 / 100

Technical Implementation

72/100

Consensus Mechanism?Based on Ethereum's PoS mechanism, it offers high security.Weight 30%PoS (Proven) · 90 / 100

Main network years of operation?The project's mainnet has been operating stably for about three years.Weight 15%About 3 years · 70 / 100

Recent upgrades?There is a lack of detailed information about the quality of the latest upgrades.Weight 35%Insufficient data · 50 / 100

Client Diversity?As an Ethereum ecosystem token, it benefits from its client diversity.Weight 20%Good · 85 / 100

Tokenomics

0/100

Deflationary Mechanism?As a stablecoin, it has no explicit deflationary mechanism.Weight 30%&None · 0 / 100

Inflation rate?Stablecoins are designed to lack the value capture brought by inflation/deflation.Weight 25%Stablecoin characteristics · 0 / 100

Staking rate/position lock-up rate?The lock-up rate is extremely low, lacking long-term holding incentives.Weight 25%Very Low · 0 / 100

Supply Upper Limit?Although there is an upper limit, combined with other factors, it has failed to effectively support the value.Weight 20%There is an upper limit · 0 / 100

Team Governance

55/100

Core Development Team?The core team has an average background and lacks endorsement from top startups or VCs.Weight 30%Normal · 30 / 100

Governance mechanisms?Governance mechanisms are transparent and genuine, with high community participation.Weight 25%Good (DAO) · 90 / 100

Financial Transparency?High transparency in fund usage, and clear proposal voting processes.Weight 25%High · 90 / 100

Concentration of key people?The top ten non-treasury addresses hold extremely high coins, posing a risk of centralization.Weight 20%Extremely high · 5 / 100

Market Ecosystem

2.5/100

Active Address?The number of daily active addresses is extremely low, and user engagement is insufficient.Weight 30%Very Low · 0 / 100

Ecological chain/L2 quantity?The ecosystem is limited to Ethereum and lacks cross-chain and third-party integration.Weight 25%Single (Ethereum) · 0 / 100

DeFi TVL?Lack of DeFi TVL data for projects themselves.Weight 25%Insufficient data · 10 / 100

Developer community?Developer activity trends are zero, and the community is inactive.Weight 20%Inactive · 0 / 100

Security & Compliance

0/100

Historical Major Failure?The contract carries risks of backdoor code and permission leakage.Weight 25%Backdoor code exists · 0 / 100

Regulatory Attitude?There is a lack of clear compliance information, and stablecoins face strict regulation.Weight 30%Unfriendly · 0 / 100

Sec Attitude?Stablecoins face high uncertainty under SEC regulation in the United States.Weight 30%Unfriendly · 0 / 100

Client Bug Frequency?There is a lack of data on client bug frequencies, and overall security risks are high.Weight 15%Insufficient data · 0 / 100

04

E Peer Comparison

Export CSV
mStable USDE · 12.77FAYAE · 13.3PolkaswapE · 13.3GaleonE · 13.28
Overall Score12.7713.313.313.28
Roadmap Delivery37.537.5037.5
Technical Implementation--------
Tokenomics0024.750.9
Team Governance55.23049.642.4
Market Ecosystem1.4117.528.29.85
Security & Compliance0000

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