M^0 Ecosystem Spotlight: October Governance Approvals

In October, M^0 governance approved several significant proposals, marking another month of continuous progress for the network. Notable integrations were confirmed with leading participants including Zivoe Labs, DYAD, Level and Jigsaw Finance.

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You can always view the currently active governance proposals here.

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Zivoe Protocol becomes an Earner

Zivoe Labs, a Real World Asset (RWA) protocol, has joined the M^0 ecosystem as an Earner. By leveraging the yield opportunities offered by $M, which will be held as reserve within the Zivoe DAO, the protocol aims to enhance returns across its tranches and drive broader adoption of $M. Zivoe plans to denominate corporate and consumer debt in $M, expanding M^0 protocol’s utility.

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Jigsaw Finance becomes an Approved Earner

Jigsaw Finance, a DeFi-native protocol, has been approved as an Earner in the M^0 ecosystem. Jigsaw introduces a dynamic collateral system that enables users to adjust their positions in real-time, optimizing yield and managing risk more effectively than traditional static models. As an approved Earner, Jigsaw will integrate $M’s yield opportunities into its dynamic collateral pools, enhancing liquidity and adding a new layer of yield optimization for users. This partnership will also expand $M’s utility within Jigsaw’s ecosystem, driving broader adoption across DeFi markets and contributing to the stability and growth of $M through diversified use cases.

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DYAD Stablecoin Protocol becomes an Earner

The DYAD stablecoin protocol has been approved as an Earner within the M^0 ecosystem. DYAD leverages shared collateral pools and DYAD NFTs (dNFTs) that compete to minimize minting costs, optimizing for unit economics. As an Approved Earner, DYAD will use yield earned to fuel growth in DYAD/M liquidity pools and provide additional liquidity incentives through its Kerosene token. This collaboration also opens opportunities to integrate $M into DYAD's diversified collateral framework, expanding both ecosystems.

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DYAD Treasury becomes Claimant for DYAD/Smart $M Curve Pool

The DYAD treasury has been designated as the Claimant for the DYAD/Smart $M Curve Pool. With this approval, the yield generated from Smart $M in the pool will be directed to the DYAD Treasury, supporting its financial operations and strategic initiatives.

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DYAD/M Curve Liquidity Pool becomes an Earner

The DYAD/M Curve liquidity pool has been approved as an Earner within the M^0 ecosystem. With this approval, yield generated from the pool will be directed to their designated wallet. DYAD will integrate the pool into its frontend, incentivizing liquidity providers (LPs) through rewards distributed via the Kerosene token.

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Level Stablecoin Protocol becomes an Earner

The Level stablecoin protocol has been approved as an Earner within the M^0 ecosystem. Level's StakingPool contract enables users to restake dollar-denominated tokens, offering Actively Validated Services (AVSs) with economic security without volatility.

With this approval, users can deposit Smart $M into the Earner contract to earn Level XP, creating additional value for Smart $M holders while supporting sustainable rewards through Level’s restaking model.

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Level Treasury becomes Claimant for Level StakingPool Contract

The Level Treasury has been designated as the Claimant for the Level StakingPool contract. With this approval, the yield earned on Smart $M within the StakingPool will be directed to Level’s treasury.

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Morpho Blue's Singleton Contract as an Approved Earner

The Morpho Blue singleton contract has been approved as an Earner in the M^0 ecosystem. In partnership with Usual protocol, this integration will create a M/USD0++ lending market to enable low-cost borrowing and looping strategies, driving capital efficiency. 

Usual becomes Yield Claimant for Morpho Blue Singleton Contract

Usual protocol has been designated as the yield Claimant for the Morpho Blue singleton contract. This will incentivize the first lending market utilizing Morpho Blue, with a focus on enabling cheap and efficient borrowing and looping strategies.

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M^0 Foundation becomes Yield Claimant for wM/USDC Pool

The M^0 Foundation has become a yield Claimant for wM in the UniV3 wM/USDC Pool. Until a more advanced yield distribution mechanism is established, the yield generated from the pool will be administered by the M^0 Foundation.

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Uniswap V3 wM/USDC Pool Becomes an Earner
The Uniswap V3 wM/USDC pool has been approved as an Earner within the M^0 ecosystem. This will allow Smart $M within the pool to begin earning yield, with the generated yield administered by the M^0 Foundation until a more advanced distribution mechanism is implemented.

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Governed Smart $M Vault on Euler becomes an Approved Earner

The Governed Smart $M Vault has been approved as an Earner within the M^0 ecosystem. Governed by Euler DAO, this vault will allow depositors to supply Smart $M against various collateral assets and use Smart $M as collateral to borrow other assets. A portion of the $M earnings will be redirected to vault depositors to bootstrap supply and borrow activity, fostering liquidity and adoption. 

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Euler DAO becomes Claimant for Euler-Governed Smart $M Vault

Euler DAO has been designated as the yield Claimant for the Smart $M Vault. With this approval, the yield generated from Smart $M within the vault will be directed to Euler DAO.

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Euler DAO becomes Claimant for Euler Escrow Smart $M Vault

Euler DAO has been designated as the yield Claimant for the Euler Escrow Smart $M Vault. With this, the yield generated from Smart $M within the vault will be routed to Euler DAO.

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Escrow Smart $M Vault on Euler becomes an Approved Earner

The Escrow Smart $M Vault, governed by the Euler DAO, has been approved as an Earner within the M^0 ecosystem. This will allow Smart $M to be used as collateral to borrow other assets, expanding its utility in the DeFi lending space.

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Euler DAO Address becomes an Approved Earner

The Euler DAO multisig address has been approved as an Earner within the M^0 ecosystem. This will allow Euler DAO to earn yield on its Smart $M holdings while awaiting distribution as rewards.

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About The M^0 Ecosystem

M^0 is money middleware for the internet age. It is a decentralized, on-chain protocol, as well as a corresponding set of off-chain standards and APIs, that powers a federation of stablecoin issuers. With M^0, any number of independent institutions can tap on turnkey middleware to become the minter of a fungible stablecoins.