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



# Metronome Synth USD (MSUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Pre-yield-farming overcollateralized synth dollar minted against USDC, Vesper yield tokens, DAI, and ETH/BTC; no direct redemption, only debt repayment, with a recent supply spike that breaks years of stasis. Metronome's msUSD is a synthetic dollar from the pre-yield-farming era that somehow kept its users — minted against 30% USDC, 25% Vesper yield tokens, 20% DAI, and 20% ETH/WBTC/sfrxETH via {{term:overcollateralization}}overcollateralization{{/term}}, with no direct {{term:redemption}}redemption{{/term}} mechanism, only debt repayment. The C+ safety grade at 62 with balanced B+ scores across peg stability, liquidity, and resilience is remarkably consistent for a product this niche, though the B- in dependency risk reflects exposure to DAI, USDC, and the legacy FRAX in its collateral basket. Supply has spiked over 40% in a single week — an unusual surge for a synthetic asset that most of DeFi has forgotten about, suggesting renewed interest or a single large minter. The zero-slippage intra-protocol synth swaps remain a neat trick in a market where synthetic assets have largely fallen out of fashion, and the 63-day peg streak shows the collateral-provider buyback mechanism is doing its job.

## Collateral

USDC, DAI, ETH, WBTC, sfrxETH, and Vesper Finance yield-bearing tokens (vaUSDC, vaETH, vaSTETH, vaRETH, vaCBETH); FRAX and vaFRAX accepted but currently inactive; collateral factors range 75–85%

## Peg Mechanism

Overcollateralized CDP: users deposit crypto collateral (CF 75–85%) to mint msUSD at a fixed 1% annual fee; no direct redemption — only debt repayment to reclaim collateral. Peg maintained by zero-slippage intra-protocol synth swaps (Synth Marketplace) that arbitrageurs exploit when msUSD trades below par, plus collateral-provider buybacks of discounted msUSD

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xab5eb14c09d416f0ac63661e57edb7aecdb9befa` | 18 |
| optimism | `0x9dabae7274d28a45f0b65bf8ed201a5731492ca0` | 18 |
| base | `0x526728dbc96689597f85ae4cd716d4f7fccbae9d` | 18 |
| plasma | `0x29ad7fe4516909b9e498b5a65339e54791293234` | 18 |

## Live Data

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