digital mobile money

The DMM (Digital Mobile Money) Foundation launched a decentralized protocol and a Decentralized Autonomous Organization (DAO) to connect real-world, interest-generating assets with the Ethereum blockchain. Its primary service was to allow users to deposit stablecoins (like DAI, USDC, USDT) into smart contracts to earn a consistent interest rate, backed by tokenized real-world assets. The ecosystem was governed by holders of the DMM Governance Token (DMG). The project gained initial traction but suffered a major security exploit in 2021, leading to the loss of millions in user funds and the subsequent abandonment of the project.