mStable combines stablecoins, lending and exchange into one standard. By reducing complexity and fragmentation, mStable is a step forward in usability of stablecoins.
Contents:
- Brief description of the mstablе project
- How to get income on the balance?
- Using mStable to exchange stablecoins
- Additional information
Brief description of the mstablе project
Anyone can use one or a combination of accepted USD stablecoins (currently DAI, TUSD, USDT and USDC) to mint mUSD. Simply log into the mStable app with your Web3 wallet, approve the stablecoins you want to use (this is a one-time transaction) and enter the mUSD amount you want to create. Make sure that you have the correct balance of stablecoins you want to use.
What you can do with the mStable application:
| Firstly | Using the mUSD mint with its stablecoins.. |
| Secondly | Save your millions of dollars to earn your own interest rate. |
| Thirdly | Zero slippage pf the stablecoin exchange. |
To use the project, you need an Ethereum wallet (for example, MetaMask and some stablecoins, for example DAI or USDC).
How to get income on the balance?
Anyone who wishes to earn APY on their mUSD balance can do so by fixing their mUSD in the mStable savings agreement. To do this, go to the "Save" section, using the Web3 browser, unblock deposits (one-time transaction), indicate the amount of mUSD that you want to save and forward. You will be able to see the interest, accrued to your balance in a real time. Once this is done, interest is automatically accrued and distributed between you and is available for withdrawal at any time.
Using mStable to exchange stablecoins
Anyone who wishes to exchange one of the underlying stablecoins for another can do so without any slippage in their order. Go to the Swap section of the app, select the amount and USD stablecoins you want to exchange.
There are certain temporary cases where swaps will be limited on mStabe. This will only happen when any swap attempt pushes the underlying stablecoin towards the set "maximum weight". In these cases, the user has to wait for the system to change or swap another available pair.
You can exchange your mUSD at any time for a basket of basic stablecoins that they represent. All you need to do - to go to the "Redemption" section, select the mUSD amount you want to exchange and go. The amounts of underlying stablecoins you receive will be automatically paid out, according to the current ratio of the basket weight minus the commission. This fee is charged to avoid the use of the SWAP mechanism, which benefits all savers.
Additional information
The site has White Paper. Also, the developers provide a section with answers to questions. With its help, you can learn more about the features of the project. If you have any questions, please contact the community via discord or email.
To stay up to date with all innovations, subscribe to social networks:
- twitter;
- blog;
- GitHub.
The smart contract has not been audited.