Stablecoins, lending and swapping into one standard

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mStable unites stablecoins, lending and swapping into one standard.

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

Our 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. mASSETS are backed 1:1 by a basket of existing tokenised same-base assets (hereafter bASSETS).

Each mASSET is a liquidity share for its asset pool as well as a medium of exchange, unit of account and store of value in its own right.

Each mASSET has an outsized native interest rate that is derived from lending bASSETS on third party lending protocols combined with fees collected from mStable’s SWAP product.

Users can swap between bASSETS with zero price slippage, regardless of order size. For example, in mUSD, uses are able to swap 1 DAI for 1 USDC at no cost, except gas and a small fee.

The protocol token Meta (MTA) serves as insurance against permanent loss for all mASSETS. Those who hold Meta can stake their tokens to become governors, allowing them to participate in the governance of the system. In order to achieve the long-term value of Meta, these governors are motivated to seek stability through the diversification and growth of mStable.

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