Educational post by NBX. This article is for informational purposes only. NBX is not affiliated with Danogo or any third party platforms mentioned except Moneta Digital LLC.
⚠️ Risk Notice
Using DeFi involves significant risk. Smart contracts can fail, be exploited, or operate in unforeseen ways—even if audited. Market conditions can change quickly: rates and yields are variable, collateral can be liquidated if values drop, and liquidity shocks may cause withdrawal delays or slippage. Stablecoins can deviate from their peg. Network issues (congestion, forks), oracle failures, phishing, counterfeit tokens, and bridge/wrapper risks can result in partial or total loss of funds. When you use third-party platforms (e.g., Danogo), you interact directly with those platforms; NBX does not control their contracts, interfaces, or operations. Always do your own research, start with small amounts, verify contract addresses, and use a hardware wallet.
Disclaimer
For the purpose of this guide, we use Eternl wallet as the example setup. It supports hardware wallets like Ledger and Trezor and is compatible with NBX and Cardano DeFi tools. The USDM you mint will first appear in your NBX account, and you can later withdraw it to your wallet of choice, such as Eternl. Eternl is also supported by NBX for non-custodial wallet ownership signing for when withdrawing, which makes it a practical option for most users.
Already got USDM on NBX or in your Cardano wallet? Skip down to this section
If not, here’s how to get started:
· Have a Cardano wallet ready (Eternl works well and supports Ledger and Trezor)
· Ensure your NBX account is verified and onboarded for minting
· If minting: log in to NBX and use the USDM Mint & Burn section
· If buying: trade USDC-USDM on NBX
· Keep fees and on-chain confirmations in mind
USDM is a fully collateralized stablecoin on Cardano designed to track 1:1 with the US dollar. It is issued by Moneta and NBX, with reserves fully held 1:1 in safeguarded accounts with regulated financial institutions. NBX acts as the EEA issuer and distributor of USDM, ensuring full compliance with local regulatory requirements. The goal is simple: give Cardano users a reliable, on chain dollar unit to trade, pay, and build with.
You can either mint USDM directly on NBX or buy it through our market pairs like USDM/USDC.
Any approved and onboarded NBX customer can mint USDM directly on our platform. The mint and burn functions are built into the NBX interface, giving users a clear overview of the issuance process.
How to mint USDM:
The newly minted USDM will appear in your NBX account and can later be withdrawn to your wallet of choice (Eternl is used in this guide). Remember that you will need a small amount of ADA in your Cardano wallet to cover on chain transaction fees when interacting with Cardano DeFi or transferring USDM. You can also buy ADA directly on NBX and withdraw it to your wallet for this purpose.
USDM is available across several markets on NBX, including:
· USDM EUR: https://app.nbx.com/markets/USDM-EUR
· Other USDM pairs: Check the full market list in the NBX app
Buying on NBX is simple and familiar. You trade USDM like any listed asset and can withdraw to your Cardano wallet when ready.
After minting or buying USDM and withdrawing it to your wallet, you can put it to work on Danogo by supplying it to a lending pool. This allows you to earn variable yields based on market demand for borrowing.
How to supply USDM:
When you supply USDM, your assets are added to a shared pool that borrowers draw from. In return, you earn interest that fluctuates depending on how much of the pool is borrowed. Higher borrowing activity generally means higher yields for suppliers.
Borrowers can be liquidated if their collateral value falls below safe levels, but suppliers typically retain their deposited funds. Still, temporary withdrawal delays can occur during periods of high utilization.
A stable and transparent dollar unit is essential for trading, treasury management, and payments in DeFi. USDM can be used to reduce exposure to ADA price swings while keeping users inside the Cardano ecosystem. NBX supports USDM with multiple trading pairs and straightforward on and off ramps.
For more information about the token and its mechanisms, visit the USDM FAQ by Moneta.
NBX is the Official Operating Partner of Moneta Digital LLC in the EU and EEA, responsible for distribution and market access of USDM. Below is the on-chain identification of the official USDM asset:
· Ticker: USDM
· Policy ID: c48cbb3d5e57ed56e276bc45f99ab39abe94e6cd7ac39fb402da47ad
· Asset Name: 0014df105553444d
· Official Asset Name: 0014df105553444d
· Asset Fingerprint: asset12ffdj8kk2w485sr7a5ekmjjdyecz8ps2cm5zed
These details can be used to verify the authenticity of the USDM token on the Cardano blockchain.
· USDM on NBX (EUR pair): https://app.nbx.com/markets/USDM-EUR
· Danogo Lending Pools: https://app.danogo.io/market
· Eternl Wallet: https://eternl.io/
· NBX mint: https://app.nbx.com/
· USDM FAQ: https://moneta.global/resources/faq/
