Building on Base

Hold dollars.
Keep them private.

Privacy stablecoin infrastructure on Base. 1:1 USDC-backed $USDM, shielded by dZK Proof.

Launch AppContract Address
How it works

Private dollars, in three steps.

Deposit, go private, redeem. The same dollar you put in, with a balance only you can see.

Step 01

Deposit USDC,
mint $USDM.

Send native USDC on Base and receive $USDM 1:1. Your dollars stay fully backed — one $USDM for every USDC held in reserve.

9:41
MaskedUSD
Base

Deposit & mint

Mint $USDM

You deposit

$

USDC

Native · Base

1,000.00

USDC

You receive

$USDM

Backed 1:1 by USDC

1,000.00

$USDM

Rate 1 USDC = 1 $USDMNetwork fee —

1:1 redeemable anytime

Step 02

Shielded by
dZK Proof.

Once minted, your $USDM balance and transfers are shielded by dZK (delegated zero-knowledge) Proof. Private by default — amounts and counterparties stay off the public ledger, while the math still proves every transfer is valid.

9:41
MaskedUSD
Base

Shielded balance

$USDM · Private

Hidden by dZK Proof

Private by default
Shielded by dZK Proof

Recent activity

Sent

To ••••

•••• $USDM

Received

From ••••

•••• $USDM

Private, not hidden from math

Step 03

Redeem back
to USDC, anytime.

Burn $USDM and withdraw native USDC 1:1, minus fees, whenever you want. No lockups, no waiting on permission — your exit is always open.

9:41
MaskedUSD
Base

Redeem

Redeem to USDC

You redeem

$USDM

Available ••••

500.00

$USDM

You receive

$

USDC

Native · Base

499.50

USDC

Rate 1 $USDM = 1 USDCRedemption fee 0.10%

No lockups · Redeem anytime

Private by design

Dollars that mind their own business.

On most chains, your balance and every payment you make are public by default. MaskedUSD keeps the dollar — and makes the amounts your business.

Private by default

Balances and transfers are shielded by dZK Proof from the moment you mint. Privacy isn't a toggle you remember to flip.

Fully backed

Every $USDM is backed 1:1 by native USDC held in reserve. Private doesn't mean unbacked.

Redeem anytime

Burn $USDM for native USDC 1:1, minus fees. No lockups, no permission, no waiting.

Built on Base

Native USDC and low fees, secured by an Ethereum Layer 2. Familiar rails, quieter ledger.

How the privacy works

Shielded by dZK Proof.

MaskedUSD uses delegated zero-knowledge (dZK) proofs. Your balance and the amounts you send stay off the public ledger — yet the math still proves, to anyone, that every transfer is valid and fully backed.

It's privacy for normal people — payroll, savings, a quiet treasury — not a way to hide where money came from.

  • Amounts & counterparties stay off the public ledger
  • Validity is still provable to anyone — no trust required
  • No mixer, no middleman holding your funds
dZK Proof
Shielded transferBase
From0x9f4c…2e1a
To••••••••••
Amount•••••• USDM
Proof valid· fully backed, amounts hidden
Two tokens, one protocol

$USDM & $MUSD, side by side.

They're complementary, not competitors. $USDM is the private dollar you hold; $MUSD is the access and utility layer that plugs you into it — two roles in one protocol.

$USDM

The product

The private dollar you hold and spend.

1:1 native-USDC-backed on Base, with balances and transfers shielded by dZK Proof.

  • 1:1 native-USDC-backed on Base
  • Balances & transfers shielded by dZK Proof
  • Redeemable to USDC, anytime
Contract · Base
Backed · Shielded · Redeemable

$MUSD

Access & utility

The ecosystem and access layer for the protocol.

Launching on Clanker. A volatile, unbacked ecosystem token — not a second stablecoin. It plugs you into the protocol's utility and community.

  • Ecosystem & access layer
  • Capped fee discount on the ramp (planned)
  • Volatile · not backed · can go to zero
Contract · Base0xTBA
Volatile · Not backed

$MUSD is a separate, volatile, unbacked token — not $USDM, not a stablecoin

Roadmap

Where we're headed.

A privacy stablecoin is infrastructure — so we're building it in the open, one deliberate phase at a time.

01Shipped

Foundations

Protocol architecture, dZK circuit design, and the brand & community taking shape.

02Shipped

Public testnet

The full flow — mint, shield, private transfers, and redeem — live end to end on Base Sepolia.

03Shipped

Mainnet on Base

$USDM is live: hold, shield, and redeem private dollars backed 1:1 by native USDC.

04In progress

$MUSD & ecosystem

$MUSD launches on Clanker as the access layer, with integrations and utility expanding.

05Planned

Compliant privacy

Association sets go live with selective disclosure — prove your funds are clean without exposing anyone else. Privacy regulators can live with.

06Planned

Private payments

Payment links, requests, and recurring transfers — so USDM is something you spend, not just hold.

07Planned

Build on USDM

An SDK and docs so any Base app can embed shielded USDM in a few lines. Privacy as a primitive.

08Planned

Progressive decentralization

The guardian moves to a multisig, then a timelock — narrowing trust toward the immutable core the contracts already guarantee.

FAQ

Questions,
answered.

The honest version — what MaskedUSD is, what it isn't, and where it stands today.

Still curious? Ask in the Telegram

No. MaskedUSD is privacy infrastructure for everyday dollars — balances and transfers are shielded by zero-knowledge proofs that still prove every transfer is valid and fully backed. It's privacy for normal people, not a tool to obscure where funds came from.

Support

Need a hand?

Questions, stuck, or just want to dig deeper? The support hub and community have you covered.

Get support