# 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**](https://hackmd.io/@mochifoundation/mochi-whitepaper). 

**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**](https://mochi.fi/vaults). 

**Are there any audits?**

You can find the [**audits here**](https://docs.mochi.fi/audits). 

**Do you have a forum?**

[**https://forum.mochi.fi/**](https://forum.mochi.fi/)

**Can NFTs be used as collateral?**

Yes with more/better functionality soon. You can find more [**information here**](https://medium.com/@MochiDeFi?p=ae451a7b6a0f). 

**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**](https://newsletter.banklesshq.com/p/-guide-1-starting-with-bankless).

**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.