Dollars with the sound off.

mUSD is a dollar on Robinhood Chain that you can mute. Mint it against USDG, mute it, and the amount and both parties never reach the ledger. Observers see that something moved. They never see who, to whom, or how much. $MUTE is the share token that absorbs every fee.

01Quickstart

1. Connect. Open mutemoneyrh.xyz and press Connect. MetaMask, Rabby or any EVM wallet works; the site adds and switches to Robinhood Chain (chainId 4663) for you.
2. Deposit USDG. In the vault, open Deposit, enter an amount (minimum 50 USDG) and confirm the transfer in your wallet. Your vault is credited once the server has read the receipt on-chain.
3. Mint mUSD. Open Mint and convert USDG into $1-pegged mUSD.
4. Mute it. Open Mute. Your muted balance shows as frosted glass to everyone but you, and starts earning Silent Yield immediately.
5. Send or Drop. Open Send to pay any address muted, or create a Drop link to pay someone who has not connected yet.

02Core concepts

03mUSD & the peg

mUSD is a fractional-algorithmic stablecoin. Each unit is minted from USDG: most of it is held as collateral, and the remaining algorithmic share buys $MUTE at market and erases it from supply.

• Below $1: the collateral ratio rises, so more USDG backs each new mUSD and redeeming pays out 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 from either side.

The mUSD price, collateral ratio, reserve, total supply and the muted share of supply are shown live on the Overview channel.

04Deposits & withdrawals

Deposit

A deposit is a real USDG transfer on Robinhood Chain from your wallet to the MUTE treasury. After you sign, the site posts the transaction hash to the server, which reads the receipt over RPC and checks that the USDG Transfer log runs from your connected wallet to the treasury for at least 50 USDG. Only then is your vault credited. A transaction hash can be credited once.

Withdraw

Redeem mUSD back to USDG in your vault, then press Withdraw. The request enters a queue that 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, so nothing on the web host can move funds.

05Mint & redeem

Mint converts USDG in your vault into mUSD at $1. The collateral portion goes into the reserve; the algorithmic portion buys $MUTE and erases it.

Redeem burns visible mUSD and returns USDG collateral plus the $MUTE share at the current ratio. Redeem pays 50 bps. To redeem muted mUSD, unmute it first.

06Mute & unmute

Mute moves mUSD from your visible balance into the shielded pool. The protocol writes a note encrypted only to you and adds its commitment to the Merkle tree. Nothing else is recorded, so your balance is unreadable to everyone but you.

Unmute spends a note (publishing its nullifier) and returns the value to your visible balance. You can do it at any time and keep any Silent Yield you earned. Both directions pay 30 bps.

07Muted sends

A muted send spends your note and creates a new note encrypted to the recipient. The public footprint is exactly one nullifier spent and one commitment added: no amount, no sender, no recipient. The recipient decrypts their note with their own key. A send pays 30 bps and can carry a private memo that only the recipient can read.

08Drops

A Drop is a pay link. You lock muted mUSD behind a random secret and share the link by text, DM or QR. Whoever opens it connects a wallet and the mUSD lands in their muted balance.

• The secret lives only in the link's #fragment, which browsers never send to a server. The server stores a hash of it.
• On the ledger a claim is one nullifier and one commitment, identical to any muted send.
• One claim per Drop. Claiming a Drop also binds the claimer to you as a Relay (see Relays).

Create one from the Send tab in the vault.

09Mirror

A Mirror is a view key: an HMAC over your address with a server salt, encoded together with your address so the mirror page at /view (the key travels in the link fragment) can verify it. Whoever holds it can read your muted balance and history. It has no spending power. This is the selective-disclosure model privacy coins use for audits: you choose who sees, and only they see. Generate one with mirror next to your muted balance.

10Signal

The Signal channel is the public ledger feed: everything an outside observer can see. Visible mints, redeems and Erase receipts appear with amounts. Muted activity appears only as nullifiers and commitments. Signal is the proof that the footprint is what this page says it is.

✓Sound Check

A live proof of reserves that keeps balances private.

• Liabilities: each wallet's USD balance (USDG, visible and muted mUSD, Window stake, Blind Desk marks, queued withdrawals) is split into 4 random fragments. All fragments are shuffled into a Merkle-sum tree, rebuilt every minute.
• Published: only the root hash, the total and the number of balances.
• Reserve: USDG held by the treasury, read on-chain, with coverage = reserve ÷ liabilities.
• Verify: your browser recomputes every fragment's path to the root with SHA-256 and checks the fragments add up to your balance. Siblings in a path are random pieces of unknown balances.

leaf = sha256("leaf|" + wallet + "|" + salt + "|" + nonce + "|" + cents)
node = sha256("node|" + left + "|" + right + "|" + (sumL + sumR))

Public endpoint: GET /api/soundcheck. Your proof: POST /api/soundcheck/proof with your signed session.

11Silent Yield

40% of every protocol fee is 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.

• No staking, no lock, no claim button. Mute and your balance grows with usage.
• Paid from fees that are already collateral-backed mUSD, so nothing is printed.
• No pool to run dry and no end date: it is funded by usage.

your_share = fee × (1 − relay_cut) × 0.40 × (your_muted / total_muted)

The Amplifier

Hold $MUTE and your muted balance gets a bigger share of the same 40% stream. Your tier counts $MUTE in your connected wallet (read on-chain) plus $MUTE in your vault.

your_share = pool × (your_muted × your_mult) / Σ(muted × mult)

The Silent Yield channel shows the running 24h APR (computed from real fees), total paid, wallets earning, and what you have earned.

12Blind Desk

Private exposure to tokenized stocks. Commit muted mUSD to a long or short at 1x in HOOD, TSLA, NVDA, SPY and others, priced off the live exchange tape. Ticker, size, side and P&L all stay muted; the ledger records one nullifier and one commitment.

• 30 bps to open and 30 bps to close; fees feed Silent Yield and Erase.
• Max 1,000 mUSD per position and 25,000 mUSD open interest protocol-wide.
• Orders fill only while the tape is fresh (updated within 15 minutes). Shorts stop out at a 95% loss.
• The protocol is the counterparty. On close, P&L settles back into your muted balance.

13Bonds & Cryo

Bonds

Deposit USDG and receive $MUTE at 20% below market, vesting linearly over 5 days, claimable as it vests and withdrawable to your wallet. Your USDG goes into the mUSD reserve and mints nothing, so every bond pushes the collateral ratio up. Capacity is 5,000 USDG per day, first come first served; minimum 50 USDG.

Cryo

A locked bond: $MUTE at 30% below market, held for 48 hours instead of vesting. While locked it earns 80% APY in $MUTE, paid from the Window's fixed pool. At release you claim principal plus yield in one click.

Bonds and Cryo close together with the Window.

14The Window

A limited staking period. Stake mUSD and earn a fixed APY (currently 40%) paid in $MUTE from a pool the treasury set aside in advance (5,000,000 MUTE), up to 250,000 mUSD staked protocol-wide. The Window closes on 25 October 2026, 00:00 UTC or when the pool runs out, whichever comes first.

15Relays

Anyone who claims your Drop, or connects through your relay link for the first time, is bound to you:

https://mutemoneyrh.xyz/?ref=0xYourAddress

From then on 20% of every fee they pay (mute, send, unmute, redeem) is credited to your visible mUSD, every time. One relay per wallet, set once, never changed. The Relays channel shows wallets you brought in and what you have earned; the leaderboard masks addresses.

16$MUTE

$MUTE is the share token on Robinhood Chain. It is bought and erased by every mint's algorithmic share and by every Erase cycle; it is what Bonds, Cryo and the Window pay out; and holders govern the protocol parameters. Demand for private dollars flows into $MUTE.

The contract address is shown on the Overview with a copy button once $MUTE is live, and the market price is read from DexScreener.

17Erase

The buyback. After the Relay cut and Silent Yield, the rest of every fee collects in USDG. Each cycle the protocol buys $MUTE at market and removes it from supply, publishing an Erase receipt on the Signal feed. The receipt is public. The payer never is.

18Fees

Where a fee goes

fee
 ├─ 20%  → the payer's Relay (if any), as visible mUSD
 └─ rest
     ├─ 40%  → Silent Yield, pro-rata to muted holders
     └─ 60%  → Erase: buy $MUTE at market, remove from supply

19Parameters

20Addresses

Every deposited dollar sits at the treasury address above; open it on the explorer at any time.

21API

The public read endpoints return JSON and need no key.

curl https://mutemoneyrh.xyz/api/metrics

22Risk

• Peg. A peg is a mechanism. The collateral ratio is published live and redemption is always open.
• Yield. The Window and Cryo have fixed pools and end dates. Silent Yield moves with protocol usage.
• Blind Desk. 1x exposure to equities can lose value; exposure is capped per wallet and protocol-wide.
• Custody. Withdrawals are paid from a cold wallet; no key on the server can move funds.
• Keys. Muted notes are encrypted to your keys alone. Keep your keys, and size your position sensibly.

23Roadmap