Advancements in CMOS technology have enabled exponential growth of computational power. However, data processing efficiency also relies on sufficient data communication bandwidth between different units of a computing system. Memory systems typically apply dual in-line memory modules (DIMMs) because of their high capacity and low cost. However, the multi-drop bus (MDB) interface between these units and the controller is challenging for bandwidth and power reasons. Multi-tone signaling has promising characteristics for this type of interface. To keep up with the ever growing demand for higher bandwidth in multi-drop buses, we develop a 7.5Gb/s (3.75Gb/s/pin) NRZ/multi-tone (NRZ/MT) transceiver with a total link power efficiency of 1mW/Gb/s.