USDM1 isn't completely live yet - still seeding liquidity and GTM, but I'd recommend the following articles to get a sense of what we're building and what we're trying to fix. Stablecoin Narrow Banking (Matt Levine): https://archive.ph/xab6K Structural Instability in Yield-Bearing Settlement Instruments (Borja Neira): https://x.com/borjaneira_/status/2016212390325706929?s=20 The Case for a New Floating Rate Treasury Note (Darrell Duffie and Don Wilson): https://www.brookings.edu/articles/the-case-for-a-new-floating-rate-treasury-note/