Released in May 2020, mStable is a protocol that builds autonomous and non-custodial stablecoin infrastructure. Three major problems confront stablecoin users: significant fragmentation in same-peg assets; lack of native yield when it is being increasingly demanded by users; lack of insurance against permanent capital loss. mStable's products (SWAP, SAVE and EARN) are built specifically to address these pain-points.
mStable assets represent some underlying value peg and are minted/redeemed on-chain via smart contracts. mStable assets are backed 1:1 by a basket of existing tokenised same-base assets. Each mStable asset has an outsized native interest rate that is derived from lending basket assets on third party lending protocols combined with fees collected from the platform and liquidated tokens farmed by the underlying basket assets.
Meta (MTA) is mStable’s protocol token, and has three core functions:
- To coordinate decentralised governance.
- To incentivise bootstrapping of mAsset liquidity, utility and a decentralised community of Governors.
- To act as the source of re-collateralisation if it is implemented in future after being approved by governors.
How to use mStable?
Navigate to the [mStable App, https://app.mstable.org/#/] where you can MINT, SWAP, SAVE and EARN using mStable assets, or simply purchase or utilise mASSETs across the DeFi ecosystem, in protocols like Balancer and Uniswap.
Those who want to participate in Governance or stake their MTA should navigate to the [governance portal, https://governance.mstable.org/#/govern]