Accessing Liquidity
A key benefit of the M0 infrastructure is the shared liquidity among all stablecoin extensions. Rather than relying on fragmented third-party aggregators or static onchain liquidity pools, M0 provides a unified liquidity layer that gives your stablecoin extension the most flexible and lowest friction access to liquidity from day one.
What is the Onchain Orchestration service?
Onchain Orchestration is M0's infrastructure for facilitating swaps and cross-chain transfers between M0 stablecoin extensions and other instruments. It enables users to move between desired quote tokens (such as USDC and USDT) and any M0-powered stablecoin via deterministic 1:1 swaps through a unified integration surface.
The product:
- Aggregates multiple liquidity sources built specifically for M0-powered stablecoins behind a single API.
- Supports cross-chain transfers between any configured chains and across any M0-powered stablecoin extension.
- Enables any transaction size through partial fills and solver inventory cycling.
- Leverages M0's balance sheet so customers are able to partially bootstrap liquidity.
How It Works
The liquidity flow works in four stages:
- Client creates an order through the Orchestration API.
- Market Maker fills the order using their onchain balance.
- Market Maker rebalances with the Issuer as needed.
- Issuer balances their backbook to replenish inventory.
Onchain Orchestration Key Components
Orchestration API
The Orchestration API is the primary integration point for customers. It provides a single endpoint that:
- Returns quotes for moving between M0 stablecoin extensions and other stablecoins such as USDC or USDT.
- Aggregates routes from multiple providers (M0 Portals, M0 Swap Facility, Limit Order Protocol, third-party bridges and DEXs).
- Generates executable transaction payloads for both EVM and Solana.
- Abstracts away the complexity of multi-chain routing.
Limit Order Protocol
The Limit Order Protocol is the core settlement layer for moving in and out of stablecoins powered by M0 from other major stablecoins. It allows users to submit same-chain or cross-chain limit orders that are filled by approved solvers.
Key features:
- Deterministic pricing - client specify exact input and output amounts upfront.
- Partial fills - solvers can cycle inventory for large orders.
- Cross-chain support - orders created on the source chain, filled on any destination.
- Gasless orders - client can sign orders without paying gas.
- Multi-chain support across major EVM chains and Solana.
M0 Swap Facility (MSF)
M0 smart contracts that handle interoperability between M0 stablecoin extensions, enabling direct conversions between any two approved M0 stablecoin extensions.
Key features:
- Direct 1:1 conversions between any two M0 stablecoin extensions, with no slippage, trading fees, or AMM pools required.
- Permissionless for end users to swap between standard stablecoin extensions.
- Restricted to approved extensions on the M0 earner list, with configuration managed by M0.
- Atomic conversions - they either complete fully or revert.
Portal V2
Portal V2 is M0's cross-chain bridge and messaging system. It underpins all cross-chain transfers of M0 stablecoin extension and serves as the trusted message relay that the Limit Order Protocol depends on to deliver fill and cancel reports between chains.
Portal V2 uses a modular bridge adapter design - each adapter implements a standard interface and handles message delivery via a specific cross-chain messaging protocol. It currently supports adapters for Wormhole, Hyperlane, and LayerZero.
Primary Market Liquidity (Direct with Issuers)
For large-scale minting/redeeming of your stablecoin extension directly against supported stablecoins or USD. This involves an onboarding process with the Issuer of the desired stablecoin. Suitable for centralized businesses and zero-slippage constraints.
Onchain Liquidity (DEXs)
Through deep liquidity pools on major chains like Ethereum, Solana, and various L2s. These pools are typically against USDC and aim for efficient pricing. Ideal for decentralized applications and 24/7 access.
| DEX Name | Pool Link |
|---|---|
| Uniswap | ethereum/0x970A7749EcAA4394C8B2Bf5F2471F41FD6b79288 |
| Raydium | pool_id=CsMzKUUJNoAoU7N4zh3hAS6qcByU81TcQMPJqCdmmcEF |
Supported Routes
The Orchestration API supports both same-chain swaps and cross-chain transfers between M0 stablecoin extensions and external stablecoins (USDC, USDT).
The system currently operates across Ethereum, Base, Arbitrum, Optimism, Solana, Plasma, Mantra, and Soneium. Same-chain limit orders are live on Base, Solana, and Ethereum, with cross-chain routes and additional features actively expanding.
Use the /supported-assets endpoint to get the current list of supported tokens and chains.
Use Cases for Stablecoin Builders
Inflows: Converting USDC/USDT to Your Stablecoin Extension
Users can convert USDC or USDT into your M0 stablecoin extension 1:1 through the Orchestration API. The system handles routing through the optimal path - whether that's direct swaps, cross-chain bridges, or the limit order system.
Outflows: Converting Your Stablecoin Extension to USDC/USDT
Users can exit your extension back to USDC or USDT 1:1. The solver network ensures liquidity is available even for large redemptions, with the minter backbook providing additional depth.
Converting Between M0 Stablecoin Extensions
The Orchestration API can be used to convert your stablecoin directly into any other M0 stablecoin extension 1:1 via the M0 Swap Facility.
Cross-Chain Transfers
Move your stablecoin extension between supported chains. The system automatically handles bridging through M0's Portal infrastructure and third-party bridges as needed.