00 · overview

Dollars with
the sound off.

A dollar on Robinhood Chain you can mute. Amount, sender and recipient never reach the ledger.

mUSD price

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collateral ratio

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reserve

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mUSD supply

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muted

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$MUTE CA

answers

Asked plainly.

What is mUSD?

A dollar you can make silent. mUSD is a fractional-algorithmic stablecoin on Robinhood Chain: each unit is minted from USDG, most of which is held as collateral while the remaining share buys and erases $MUTE. The protocol moves that ratio to hold the price at $1.

How does the peg hold?

Below $1 the collateral ratio rises, so more USDG backs each new mUSD and redeeming pays more hard collateral. Above $1 the ratio falls and more of each mint is the algorithmic share. Redemption is always open, so arbitrage pulls the price back to $1. The mechanism is public and the ratio is on the Overview at all times.

What does “mute” actually do?

It moves mUSD from your visible balance into the shielded pool and writes a note encrypted only to you (x25519) plus a commitment in the Merkle tree. Nothing else is recorded. Your balance is unreadable to everyone but you.

What can an observer see when I send muted?

One nullifier spent and one new commitment added. No amount, no sender, no recipient. The recipient decrypts their note with their own key; nobody else can.

Can I become visible again?

Yes. Unmute returns a private note to your visible balance at any time, and Redeem burns visible mUSD for your USDG collateral plus the $MUTE share. Silent when you choose, visible when you choose.

What is $MUTE for?

$MUTE is the share token. A slice of every mint buys $MUTE and erases it, every fee buys more and erases that too, and bonds and the Window pay out in it. Demand for private dollars flows into $MUTE. Holders govern the protocol parameters.

Is my USDG actually deposited?

Yes. A deposit is a real USDG transfer on Robinhood Chain to the treasury. The server reads the transaction receipt, checks that the Transfer log runs from your wallet to the treasury, and only then credits your vault. Every deposited dollar sits in a treasury address you can open on the explorer.

How do I get USDG back out?

Redeem mUSD for USDG in your vault, then Withdraw. Withdrawals enter a queue the treasury pays from a cold wallet, usually within 24 hours, and the payout transaction hash is written next to your request. There is deliberately no hot key on the server.

What is Silent Yield?

40% of every protocol fee, paid to muted mUSD holders. Each time anyone mutes, sends, unmutes, redeems or trades on the Blind Desk, 40% of the fee is split pro-rata across every muted balance and credited as mUSD, inside the mute, in the same instant. There is no staking, no lock and nothing to claim. It is paid from fees that are already collateral-backed mUSD, so nothing is printed and it has no end date. The remaining fee still buys $MUTE and erases it.

What is the Amplifier?

A boost on Silent Yield for $MUTE holders. Your muted balance is weighted by how much $MUTE you hold: 1.5x from 1M, 2x from 5M, 3x from 20M. It counts $MUTE in your connected wallet, read on-chain every few minutes, plus $MUTE in your vault. It splits the same 40% fee stream, so nothing extra is printed.

What is Sound Check?

A live proof of reserves for private money. Every balance is split into four random fragments and sealed into a Merkle-sum tree; only the root and the total are published, every minute. Press Verify my balance and your browser recomputes the path from your fragments to the published root with SHA-256. The reserve beside it is the USDG in the treasury, read from Robinhood Chain. No other wallet's balance is revealed.

What is a Drop?

A pay link. You lock muted mUSD behind a random secret and share the link. Whoever opens it connects a wallet and the mUSD lands in their muted balance. The secret lives only in the link fragment; the server stores a hash of it, and the ledger shows one nullifier and one commitment, indistinguishable from any muted send. One claim per drop.

What is a Mirror?

A view key: an HMAC over your address with a server salt, encoded together with your address so the mirror page can verify it. It reads your muted balance and history and has no spending power. This is the selective-disclosure model privacy coins use for audits: you choose who sees, and only they see.

How do Relays work?

When someone claims your Drop or connects through your link (mutemoneyrh.xyz/?ref=your-address) for the first time, they are bound to you. 20% of every fee they pay from then on is credited to your visible mUSD, forever. The rest is split between Silent Yield and Erase. One relay per wallet, set once, never changed.

What is the Blind Desk?

Private exposure to tokenized stocks. You commit muted mUSD to a long or short in HOOD, TSLA, NVDA, SPY and others at 1x, priced off the live exchange tape. When you close, P&L settles back into your muted balance. Nobody can see what you hold, how much, or which way. Positions are capped per wallet and protocol-wide, shorts stop out at a 95% loss, and orders fill only while the tape is fresh. The protocol is the counterparty; fees go to Erase.

What are Bonds?

The fastest way to grow the reserve. Deposit USDG and receive $MUTE at 20% below market, vesting linearly over 5 days, claimable as it vests and withdrawable to your wallet from the treasury. Your USDG goes into the mUSD reserve and mints nothing, so bonds push the collateral ratio up. Capacity is capped per day and the program closes with the Window.

What is Cryo?

A locked bond. Take $MUTE at 30% below market, held for 48 hours instead of vesting over 5 days. While locked it earns 80% APY, paid in $MUTE from the same fixed pool that funds the Window. At release you claim principal plus yield in one click. The USDG goes to the reserve and mints nothing.

What is the Window, and why does it close?

A limited staking period: stake mUSD and earn a fixed APY paid in $MUTE from a pool set aside in advance. It has a hard end date and a hard pool size. Permanent subsidised yield is what turned Anchor into the only reason to hold UST. A yield that ends cannot become load-bearing.

What is Erase?

The buyback. Every mute, muted send and unmute pays 30 bps, every redeem pays 50 bps. 40% streams to muted holders as Silent Yield; the rest collects in USDG and each cycle the protocol buys $MUTE at market and removes it from supply, publishing a receipt. Use of private money becomes permanent scarcity in the share token.

Which chain and which wallet?

Robinhood Chain (chainId 4663). Connect any EVM wallet such as MetaMask or Rabby; the site switches the network for you. USDG is the collateral asset.

How is risk handled?

The collateral ratio is published live, redemption is always open, yield programs have fixed pools and end dates, and Blind Desk exposure is capped per wallet and protocol-wide. Withdrawals are paid from a cold wallet, so no key on the server can move funds. A peg is a mechanism, and muted notes are encrypted to your keys alone, so keep your keys and size your position sensibly.

silent yield

Get paid to stay silent.LIVE

share of every fee

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paid to muted holders

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last 24h

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running APR · from fees

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payouts streamed

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wallets earning

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you have earned

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40% of every fee is split across muted balances the moment it is paid, as mUSD, inside the mute.

No staking, no lock, nothing to claim. Funded by usage, so nothing is printed.

The AmplifierNEW

Hold $MUTE and your muted balance earns a bigger share of the same fee stream.

Your tierconnect to see

01 · signal

What the ledger can see.

Everything an observer can see. A muted transfer is one nullifier and one commitment.

02 · blind desk

Stocks, unobserved.1X

positions open

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notional inside

000000

volume

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fees → erase

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Long or short tokenized stocks at 1x from your muted balance. Ticker, size and P&L stay private.

03 · bonds · cryo

$MUTE below market. Reserve above.−20% / −30%

bond price · $MUTE

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market price

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capacity today

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bonded so far

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cryo price · $MUTE

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in cryo

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Bonds: $MUTE at 20% off, vesting over 5 days. Your USDG goes to the reserve.

Cryo: 30% off, locked 48 hours, earning 80% APY while locked.

04 · the window

Yield with an end date.LIMITED

APY · paid in $MUTE

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mUSD staked

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reward pool left

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closes in

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stakers

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Stake mUSD, earn $MUTE from a fixed pool. When the pool or the clock runs out, it closes.

05 · erase

Every fee buys $MUTE and deletes it.

$MUTE erased

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bought back

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queued · next cycle

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cycles

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Fees fund Silent Yield. The rest buys $MUTE at market and removes it from supply.

06 · relays

Bring someone in. 20%, forever.

Wallets that join through your link or claim your Drop pay you 20% of their fees, forever.

wallets you relayed

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earned from their fees

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Top relays · addresses masked

07 · drops · mirror

DropPAY LINK

Send muted dollars as a link. Whoever opens it claims them. No recipient is ever named.

MirrorVIEW KEY

A read-only key to your muted balance. Share it with one person. It can never spend.

sound check · proof of reserves

Private balances. Public solvency.LIVE

Every balance is sealed into a Merkle-sum tree. Only the root and the total are published. The reserve is read from Robinhood Chain.

reserve · on-chain USDG

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liabilities · all balances

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coverage

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balances in tree

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tree rebuilt

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block

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ROOT—

Treasury on explorer

08 · protocol

Three moves. No names.

Mint mUSD

Deposit USDG and receive $1 mUSD. Redeem any time.

Mute it

Your mUSD becomes a note only you can read.

Send without a trace

Amount and both parties stay hidden. The ledger sees one nullifier, one commitment.

Phases

P1

The ledger & $MUTE

Real privacy primitives (commitments, nullifiers, encrypted notes), USDG deposits verified on Robinhood Chain, open mint and redeem.

Live

P2

Drops, Mirror, Blind Desk

Pay-by-link muted transfers, read-only view keys, muted stock positions, bonds, Cryo and the Window.