> For the complete documentation index, see [llms.txt](https://docs.mudigital.net/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.mudigital.net/technical-reference/smart-contract-architecture/erc-20-contracts.md).

# ERC-20 Contracts

#### **Overview**

| **Token**  | **Type**     | **Purpose**                                                                                                                    | **Standard** |
| ---------- | ------------ | ------------------------------------------------------------------------------------------------------------------------------ | ------------ |
| **AZND**   | Stable Asset | Marked 1:1 to USDC/USDT, non-yield bearing. Mint/redeem restricted to KYC-verified users via PrimaryMarket.                    | ERC-20       |
| **loAZND** | Yield Token  | Minted by depositing AZND into an ERC-4626 vault, accrues yield via repricing.                                                 | ERC-4626     |
| **muBOND** | Yield Token  | Collateralized by an underlying pool of real-world assets; yield is reflected through price appreciation rather than rebasing. | ERC-20       |

#### **Key Mechanics**

* **Core Functions** – `mint`, `redeem`, `transfer`, `approve`, plus role-gated administrative functions.
* **Access Control** – Role-based permissions for Minter, Burner, and Admin functions, with timelocked execution for critical changes.
* **Standards Compliance** – ERC-20 for token logic, ERC-4626 for vault mechanics, and selected EIP extensions for enhanced interoperability.
* **Security & Upgradeability** – Audited contracts with defined upgrade paths, pausable operations, and restricted role assignments to protect protocol integrity.