FAQ
What is Mochi?
Mochi is a cross-chain, autonomously governed decentralized stable currency protocol fully backed by long-tail and yield-bearing assets. Mochi unlocks productivity in various collateral, enabling new value creation and accelerating innovation in DeFi.
What is USDM?
USDM is the native stablecoin to the Mochi protocol. It’s an overcollateralized stablecoins backed by other crypto assets.
What are the supported wallets at Mochi.fi?
The following wallets are supported: Metamask, Trezor, Ledger, WalletConnect, CoboVault, Lattice, Coinbase Wallet, Portis, Fortmatic, Torus, Opera, Liquality, Frame, and Authereum
When will this launch?
The token is not launched yet. However, the protocol is live. Please keep an eye on the announcement channels for news related to the upcoming launch of the Mochi token.
Do you have any whitepaper?
You can find the Mochi whitepaper here.
What do you mean by Long Tail Assets?
Long-tail assets are those outside the largest and most well-known assets such as BTC, eth, stablecoins, and some DeFi blue chips. Mochi has developed a way to safely provide yield-bearing and liquidity tokens fully backed by a wide variety of crypto assets.
This allows a wider variety of crypto assets, including long-tail and less liquid tokens, with otherwise healthy markets, to get listed, enable collateralization, and mint the USDM stablecoin.
Where can I find a list of vaults listed on Mochi?
The list of available vaults can be found here.
Are there any audits?
You can find the audits here.
Do you have a forum?
Can NFTs be used as collateral?
Yes with more/better functionality soon. You can find more information here.
In the event that my vault becomes undercollateralized and up for liquidation, is there a "grace period" in which I can add more collateral or pay back debt? In the event that it gets liquidated, do I lose the entirety of my collateral or only a % of it?
Right now there isn't a grace period, because when undercollateralized the priority is for the protocol to recover any debts without risking insolvency or shortfall, as for partial liquidations, that's a priority being worked on, not implemented yet
I am a complete Newbie to the crypto/Defi world. Any tips to learn more about DeFi?
This can be a good place to start.
How does USDM prevent depegging?
All USDM is fully backed by collateral in vaults and peg maintained via Curve pool.
Can you do anything with USDM?
Earn rewards by staking them on Convex.
Use our highly liquid pool to swap it into USDC/USDT/DAI to use it for any of the purposes those stablecoins have.
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