Launch of USDMAU and MAU Tokens

Local community accounting units are a quality alternative to the financial system, a new approach to cooperation, exchange, and savings.

Let us tell you more about them.

Why Is This Needed?

Historically, money has performed several essential functions: measuring value, serving as a medium of exchange, and acting as a store of value. Money is not an end in itself, but often a necessary means without which neither security, nor development, nor freedom is possible.

In today’s rapidly changing world, familiar forms of money are actually disappearing, losing their functions. Money in the bank does not really belong to you — it can be subject to restrictions, confiscation, forced exchange, or withholding at any time. In different countries and jurisdictions, sanctions of questionable legality but undeniable effectiveness may be applied — often indiscriminately, simply based on passport or nationality.

The aggressive introduction of so-called “central bank digital currencies” (CBDC) threatens us all with the effective abolition of cash and other forms of money and their replacement with a surrogate in the form of “programmable (or managed) money” that is not really money, since every step of its conditional “owner” will be controlled by the issuer, making neither reliable savings nor free exchange possible. Thus, CBDC is not money, but merely a rationing system introduced under the guise of money, with an attractive interface in the form of a central bank application.

Obviously, solutions must be found. What money will we use today and tomorrow?

It would seem that “top” stablecoins with multi-billion-dollar capitalization (such as USDT, USDC, DAI, etc.) solve many problems. Alas, the events of 2022 (the attack that led to the collapse of one of the largest stablecoins UST (Terra), threats and blocks in other stablecoins) showed that their reliability and security are very much in question. Big ones are subject to a whole range of threats from all sides — from politicians and populists to fraudsters. In fact, today stablecoins like USDT are fine as a medium of exchange — but by no means for storing value.

Regular cryptocurrencies (Bitcoin, Monero, Dogecoin) are suitable for long-term savings, but volatility, often high transaction fees, and delays make them not the most convenient medium for everyday exchange, medium-term savings, and a number of other applications.

A beneficial and convenient medium that covers many of these needs is the accounting units of local communities. Issued by local communities and circulating primarily among their participants, they do not claim to be global money, but primarily serve the specific purpose of accounting for mutual obligations among their users. Thus, they are tied to real people who carry out real economic activity in the process of their life activities, rather than quasi-money from banks or “global” stablecoins. At the same time, freedom to use such accounting systems is not limited in fact — anyone can buy, sell, or exchange such units without being a member or participant in such a community. Nevertheless, the more actively a person interacts with the participants of the issuing community, the more beneficial and interesting it is for them to buy, sell, and exchange obligations using the accounting units of their community. This is tangible savings on interest and fees that do not go to third-party bankers and financiers. This is an understandable savings function — the participant understands WHAT exactly backs the stability of such a “currency” by seeing the economic life of the community. This is, finally, a market for promoting one’s services and goods, a field for activity and collaboration for those who are interested.

Such units are the USDMAU and MAU tokens we offer, whose circulation and technical functioning is provided by the decentralized organization MAU Accounts DAO.

The value of the USDMAU token is set equal to one US dollar (USD) and is maintained on decentralized exchanges (DEX) and during exchange according to this equivalent. The value of the MAU token is floating. Today we offer it at a notional benchmark of 1 gram of gold (about 70 USD).

We invite you to start using our convenient and reliable coins now! Just install a wallet (or use a web wallet in your browser), deposit a small amount, and try using it — buying, accepting payments, and keeping a small supply of funds. We are confident that our coins will become one of the convenient and useful tools for you, solving at least some of your “money” problems in the challenging year of 2023.