mStable — a self-contained and stable infrastructure. By reducing complexity and fragmentation, this project is a step forward in the usability of stablecoins.
Contents:
Description of the mStable project
mStаble is a collection of stand-alone and decentralized smart contracts. It is built on the Ethereum blockchain. 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 in the app, select the amount and USD stablecoins you want to exchange.
mStаble was created to address three main problems that stablecoin users face:
- significant fragmentation in the same peg stablecoins;
- lack of profitability in fiat currencies and stable coins;
- lack of protection against constant capital losses in stablecoins.
MStаble assets are some kind of pegged to value and are minted/redeemed along the chain, using smart contracts.
Each mAsset receives an above average interest rate. This rate is derived from the mStable contracts autonomously and programmatically by third party credit protocols, generating interest income. MStable contracts concurrently allow the swap or "swap" of bassets for a fee.
Main advantages:
| Firstly | Swap of USD stablecoins with zero slippage. |
| Secondly | A USD savings account for anyone, anywhere. |
| Thirdly | All members can earn an MTA to manage the protocol. |
Anyone can use one or a combination of accepted USD stablecoins (currently DAI, TUSD, USDT and USDC) to mint mUSD. Just log into the mStable app with your Web3 wallet, approve the stablecoins you want to use and enter the mUSD amount you want to create. Be sure to make sure you have the correct balance of stablecoins you want to use.
Additional information
The site has a 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.
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The smart contract doesn’t have an audit.