Exploring promising projects in the DeFI landscape, I found myself researching mStable, and was impressed with everything I read about this.
mStable aims to unite stablecoins, lending and swapping into one standard to address what they see as the problems facing 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
At this point in time you are able to ‘mint’ the main USD stablecoins, into mUSD, on a 1:1 basis. Work is ongoing on other base asset minting to mAssets.
So, why should I jump on this bandwagon?
Well, let’s cut to the chase.. There are gains to be made…
The protocol token is now available on a number of exchanges.
MTA (Meta) is the underlying protocol token, which will be used for governance and staking rewards from phase 2 of the project, which will happen in Q4 2020, if all goes to plan.
While waiting for the governance and staking of MTA to go live, you can ‘mint’ your USD stablecoins, ‘swap’ between the underlying assets ate zero percent slippage, or ‘save’ and enjoy some generous returns.
All mStable assets will be able to earn a native interest rate. This is done by the lending of underlying bASSETS on decentralised lending markets such as Compound or AAVE, combined with mStable's swap fees.
To conduct your own research, or jump onboard, you can read more here..
https://app.mstable.org/
https://docs.mstable.org/
