ID: #1000189 | Status:
In progress

Last updated 45 days ago

USDM: Fiat-Backed STABLECOIN - by Mehen: Cardano's Premiere Fiat-backed Stablecoin


Cardano URGENTLY needs a NATIVE FIAT-BACKED STABLECOIN to accelerate its decentralized finance ecosystem, enable payments, and bridge capital into the Cardano DeFi ecosystem.


Mehen is actively building USDM - A 1:1 USD licensed fiat-backed stablecoin with oversight, & decentralized reserves verification; prioritizing integrity, transparency, and reinvestment into Cardano.

Total to date

This is the total amount allocated to USDM: Fiat-Backed STABLECOIN - by Mehen: Cardano's Premiere Fiat-backed Stablecoin. 2 out of 6 milestones are complete

Total funds requested
Distributed: ₳475,000
Remaining: ₳325,000
In Progress
To be completed
Total Votes
Votes Yes
Votes No

About this idea

NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here


Steven Fisher

Steven has been in the software field for over 23 years. In addition to developing and fielding full stack solutions, he’s led teams though multiple system, preliminary, and critical design reviews. He has been involved in customer training for the products and services he has delivered and he’s used that time to push added value back into those projects.

He created a small LLC named Swift Crypto LLC ( to mine Ethereum in 2021. Looking to the future, he became a Cardano enthusiast and single stake pool operator for ADA for Warriors ( He is a core member of the FreeLoaderz Cardano group as well as a member of the Cardano SPA and xSPO alliances.

With FreeLoaderz, he is the lead web developer for SmartClaimz. The testnet version can be found here: and the repo for the front end can be found on FreeLoaderz’ Github here:

Additional information can be found on Steve’s LinkedIn page:

Matt Tristan

Matthew Tristan is currently pursuing his Master’s in Computer Science at Georgia Tech and is a talented software engineer with an outstanding background of exceeding performance and community engagement. He is second cohort Plutus Pioneer Graduate, a former Meld Finance ambassador, and a Testing Solutions Engineer from 2017 to 2023. 

Matt currently has two patents pending for:

Smart Contracts for Global State Control in a eUTXO environment

Modifiable input validators and implementation in eUTXO environment

Additional information can be found on Matt’s LinkedIn page:

Matt Plomin

Matthew is responsible for regulatory compliance, internal process controls, and business management. He has worked in fiduciary TradFi roles for nearly 15 years, most recently as global head of ABCP and US head of Money Market Credit for a large global asset manager. He is on the steering committee for ESG matters with the Structure Finance Association, and is a FreeLoaderz Core Contributor.

Previously, he held roles in institutional relationship management, client onboarding, KYC/AML, and regulatory reporting. 

Additional information can be found on Matt’s LinkedIn page:

Eddie D’Amore

Eddie has a B.S. in Finance and Operations Management from the University of Delaware and has been consulting startups since 2018. He is a process improvement professional currently leading a team of four tax reclamation specialists recovering foreign withholding tax. Eddie also has extensive marketing experience. He brings his diligent, lean six sigma approach to the team.

Additional information can be found on Eddie’s LinkedIn page:

Sean Kelly

Sean has a PhD in Chemical Engineering from Iowa State University and has been a stake pool operator on the Cardano blockchain for the past two years. He is a core member of FreeLoaderz and he runs ENVY Stake Pool. He maintains the FreeLoaderz load balancers and also a distributed DBSync backend system for FreeLoaderz.

Additional information can be found on Sean’s Linktreepage:

Alex Schwartz

Alexander Schwartz is an educator, entrepreneur, and project manager. He works as a behavioral therapist for autistic children while working as a Community Manager for Mehen. Alexander has over a decade of eCommerce and project management experience. Alex previously managed elite eSports players of Starcraft and Dota 2 participating in tournaments such as ESL and MLG. He also cultivated strong sponsorships that helped the teams follow their dreams. Cryptocurrency (particularly Cardano) and Web3 have been a passion for Alexander since 2019. He believes in building a brighter future through DeFi because cryptocurrency is more than just money, it is a goal for long-term peace and fairness of trade.

Additional information can be found on Alex’s LinkedIn page:

James Meidinger

James (‘Blockjock’) has over 23 years experience running his own business, performing all aspects of operations/route management/sales/customer service/client relations. James is a co-host of Cardano over Coffee, a community manager at Freeloaderz, and a contributor to the Twitter show Crypto War Room. 

Additional information can be found on James’ LinkedIn page:

Jillian Plomin

Jillian is a former Sergeant in the U.S. Army Reserves, worked for the Domestic Nuclear Detection Office in Washington D.C., and holds a Masters in Public Relations from The GW School of Political Management. She has extensive experience in Communications, Marketing, and Public Relations, and has been leading dynamic teams for decades.

Jillian is also a talented writer. She is publishing her first novel, Blade of Baz, on the Cardano blockchain with Project Bookworm.

Additional information can be found on Jillian’s LinkedIn page:

Matthew Plomin
Matthew Plomin
James Meidinger
James Meidinger
Steven Fisher
Steven Fisher