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M0 Adopts Chainlink SmartData To Bring NAV Data Onchain for $M Stablecoin

January 9, 2025
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Ecosystem
M0 Foundation

We’re excited to announce that M0 has adopted Chainlink infrastructure to deliver net asset value (NAV) data on Ethereum for our decentralized stablecoin, $M. ​​By leveraging Chainlink’s SmartData suite of asset servicing solutions, we are improving the transparency of $M. The on-chain NAV feed for $M is available f.

The core M0 protocol is a coordination layer for permissioned institutional actors to generate $M. $M is a fungible token that can be generated by locking Eligible Collateral in a secure offchain facility. The protocol enforces a common set of rules and safety procedures for the management of $M. 

$M is designed to be a foundational stablecoin building block , offering unparalleled composability and reliability for developers, stablecoin builders, crypto builders and more. $M enables the creation of innovative financial products while maintaining a strong emphasis on safety, transparency, and interoperability. By leveraging $M, builders gain access to the shared liquidity of the M0 network and an expanding range of use cases. Builders also have full control over how reserve collateral yield is utilized and can integrate custom functionality, starting with $M as their stablecoin block.

Enhancing Stablecoins With Chainlink SmartData

By integrating Chainlink SmartData, integrators of $M can now access NAV data on-chain with unparalleled accuracy and security. Here’s how Chainlink’s infrastructure enhances $M:

  • Secure and Reliable Data: Chainlink’s decentralized oracle networks play a pivotal role in ensuring that NAV data is made available on-chain in a timely and accurate manner. Chainlink securely fetches and validates this data through M0’s standard Minter APIs, which directly access the custodian bank layer, ensuring that the information used for $M is consistent and up-to-date.
  • Enhanced Transparency: One of Chainlink’s key strengths is its ability to provide an immutable and transparent audit trail for NAV data that is tamper-proof and easily verifiable. NAV complements the daily on-chain collateral updates that individual Minters have to do and provides a holistic, aggregate depiction of the ecosystem's net asset value and $M's overall financial health.

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“We’re excited to leverage the Chainlink network to bring NAV data on-chain for the M0 protocol. By adopting Chainlink’s SmartData suite of asset servicing solutions, we can make it significantly easier for integrators to get a real time NAV value for $M.”—Greg Di Prisco, Chief Architect & Co-Founder at M0.

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About M0 

M0 is the universal platform powering builders of application-specific stablecoins. With M0, developers can build safe, programmable and interoperable digital dollars.

About Chainlink

Chainlink is the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $17 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors. Learn more by visiting chain.link.