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Normalised product comparison
Put products side by side. Issuers publish fees, yields and redemption terms in different formats, so every figure here has been converted to the same basis first. Rows are grouped into economics, liquidity, access and regulation, infrastructure, and how well sourced the data is.
Normalised comparison
As of 29 Aug 2026
Mountain Protocol USDM
USDM· Mountain Protocol
Identity
Ticker
USDM
Issuer
Asset class
Tokenized Treasury
Product structure
Tokenized Fund
Underlying asset
US Treasury Bills
Launched
01 Sept 2023
Economics
Yield
5.00%
Yield basis
30-day net
Expense ratio
0.30%
Yield net of fee
5.00%
AUM
$150.0M
19D AUM change
-
NAV per token
1.0000 USD
Base currency
USD
Weighted average maturity
28d
Liquidity
Redemption frequency
Daily
Dealing cut-off
14:00 EST for primary redemptions
Settlement
T+2 USD Wire or T+0 USDC
Redemption fee
None
Secondary venues
Curve, Uniswap
Access & regulation
Investor eligibility
ProfessionalInstitutional
Minimum investment
$0
Available in
Global
Prohibited
US
Issuer jurisdiction
Fund domicile
Bermuda
Legal structure
US Reg D / 3(c)(7) Fund
Allow-list required
Yes
Transfer restrictions
Transfers allowed; primary mint/redeem restricted to whitelisted accounts.
Infrastructure
Networks
5
Custodian
Administrator
Transfer agent
Tokenization platform
Oracle / attestation
chainlink
Highlighted cells mark the most favourable value on rows where a single direction is unambiguously better (higher yield, lower fee, lower minimum, faster redemption, shorter maturity, greater scale, better coverage). Rows marked * carry a caveat: hover the label. Yields quoted on different bases are not directly comparable; product structure changes what you legally own. This is data, not a recommendation.