---
title: "Main Street USD (MSUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/msusd-main-street/"
description: "Build-time stablecoin profile for Main Street USD (MSUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Main Street USD (MSUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Main Street's USDC-backed dollar layer mintable and redeemable 1:1 by verified users; strategy risk lives in the separate msY staking token, not here. Main Street USD is the liquid stablecoin in Main Street's two-token design: unstaked msUSD is described by the issuer as 1:1 backed by USDC and directly mintable or redeemable by verified users via {{term:redemption}}redemption{{/term}} flows. The options-box strategy risk belongs to the separate msY staking token, where users opt into NAV-accreting {{term:yield-bearing}}yield{{/term}} after depositing msUSD. That distinction keeps msUSD as the USDC-backed redemption asset, while msY carries the strategy exposure.

## Collateral

USDC reserves backing unstaked msUSD 1:1; delta-neutral options-box yield accrues to the separate msY strategy token after users stake msUSD

## Peg Mechanism

KYC-verified users mint and redeem msUSD 1:1 against USDC through Main Street contracts, while staking msUSD into msY is a separate NAV-appreciating yield path

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x4ba01f22827018b4772cd326c7627fb4956a7c00` | 18 |
| sonic | `0xe5fb2ed6832def99dde57c0b9d9a56537c89121d` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/msusd-main-street.