This is the same steel as M390, but the steel is produced by a different manufacturer.  The knife is brand new in the box, only opened for photo.  The last picture is of my own that I did a paracord wrap on the handle.  If you would like, I will include the paracord wrap for free. If you do not want the wrap, please make sure to let me know.  If you have any questions, don't hesitate to ask.

From Spyderco:

Spyderco's twenty-third Mule Team installment features CPM 20CV steel, a highly wear resistant, powder metallurgy stainless tool steel. CPM 20CV is unique in that it contains a high volume of vanadium carbides and the highest amount of chromium of any high-vanadium stainless steel currently available. This potent combination of elements gives it a remarkable combination of high wear resistance, superior corrosion resistance, good impact toughness, and excellent polishability. These properties are maximized by the powder metallurgy process, which ensures an extremely clean steel with small carbides and a very fine grain size.

CPM 20CV excels in industrial applications that demand high wear resistance and high corrosion resistance, such as plastic injection feed screws, barrel liners, screw tips, and mold cavities. It is also used in food processing equipment and pelletizer knives and is an extremely popular blade steel in high-performance custom knives.

CPM 20CV's alloy composition is as follows: Carbon: 1.90%, Manganese: 0.30%, Silicon: 0.30%, Chromium: 20.0%, Tungsten: 0.60%, Molybdenum: 1.00%, and Vanadium: 4.00%. An advanced alloy that offers outstanding potential in high-performance cutlery applications, CPM 20CV is a truly unique blade material and we are proud to feature it on the MT23 Mule Team blade.