Cosmos: Noble launches the first stablecoin that leverages the M^0 protocol

The Cosmos ecosystem is ready to welcome a new customized stablecoin developed on the Noble blockchain using the M^0 protocol. USDN becomes the first digital dollar that uses $M (the canonical stablecoin of M^0) as the best building block for base applications. 

Cosmos and the new customized stablecoin USDN of Noble with M^0

The Cosmos ecosystem has a new development, and it is the new customized stablecoin developed on Noble’s Blockchain, which leverages the M^0 protocol. Here is Noble’s announcement of the launch of USDN: 

“We are proud to announce that Noble is the first partner for the launch of a stablecoin of the M^0 protocol. @m0foundation. Introduction of the Noble Dollar: $USDN”

In other posts on X, Noble continues by stating that USDN is a stablecoin pegged to the dollar that programmatically directs yields to onchain distribution partners. USDN will be available throughout the borderless modular ecosystem and appchain of Cosmos, Initia, and Celestia, as well as the Ethereum Virtual Machine (EVM) appchains. 

The new stablecoin is powered by the building blocks of M^0 stablecoin (which is pronounced M Zero). 

Specifically, with $M as the basic primitive, developers using USDN can customize the branding, regulatory compliance, convertibility features, yield distribution, etc.

Cosmos and the new stablecoin USDN by Noble: how does the M^0 protocol work?

The peculiarity of the new digital dollar by Noble for the Cosmos ecosystem and beyond, are the characteristics of the M^0 protocol that is leveraged. 

In fact, at the beginning of the year, the M^0 protocol saw its launch on Ethereum and began to be the first stablecoin issuer in its federation. 

In practice, M^0 has launched a stablecoin extension engine that allows builders to start with $M (the canonical stablecoin of M^0) and to customize various attributes to create their own branded dollar digital asset.

Its modular design makes all extensions based on $M completely interchangeable, allowing easy integration within the ecosystem. Not only that, builders creating custom digital dollar assets with $M have access to shared liquidity and a growing range of use cases within the M^0 network.

As the main liquidity infrastructure for asset issuers in the Cosmos ecosystem, and beyond, Noble leverages $M as a fundamental element underlying $USDN. 

In the wake of the 15 million dollar Series A funding, USDN offers the broader Interchain ecosystem a credibly neutral digital dollar, native to its chain and interoperable with $M and other third-party stablecoin extensions. 

In this regard, Jelena Djuric, co-founder and CEO of Noble, commented:

“The use of $M and the M^0 infrastructure in the $USDN project represents a breakthrough for the ecosystem, allowing greater liquidity and broader interoperability between different ecosystems and applications. This collaboration not only advances the adoption of Cosmos native stablecoins but sets a new precedent for stablecoin design, focusing on security, programmability, and interoperability. We are excited to redefine what stablecoin infrastructure can achieve in the realm of decentralized finance.”

The price of ATOM above $10

And as we proceed embracing the new entries in the ecosystem, the crypto Cosmos (ATOM) continues to ride the bull moment. 

At the time of writing, ATOM is worth $10.03 and is in a pump of +23% in just the last 7 days and +125% in the last 30 days. 

In reality, such a price is not really from “highs,” also because in March of this year the price of ATOM had reached 14.20$.

Certainly, however, the general bullish is helping the crypto to resurface, after its bear market period began in April, with the price dropping to $3.91 just before the US presidential elections.

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Beyond the general bullish, then, in this month of ATOM price recovery there was also the new announcement by Ethan Buchman, founder of Cosmos, for the launch of the revolutionary P2P system for debt settlement and regulation. It is Cycles, a blockchain that simplifies the management of liabilities around a community, improving liquidity flows and limiting stalls.
In any case, ATOM is still far from its ATH price recorded in November 2021 above $40.

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