Thread by @defipulse

1/ #DeFi meet @mstable_ and its meta-assets

mUSD is a USD-pegged token backed by a basket of popular stablecoins. Like all mAssets, mUSD generates a native yield and enables 0-slippage swaps between its underlying collateral.

Learn more about mStable defipulse.com/blog/introduci…

2/ mUSD solves the hassle of owning multiple stablecoins by instead creating a productive first-class meta-asset that minimizes the risks posed by individual stablecoins and enhances their functionality.

Anyone can deposit DAI, USDC, USDT, and/or TUSD to mint mUSD at a 1:1 rate.

3/ After minting your first mUSD, you can deposit it into mStable's SAVE contract and start earning.

mUSD deposited into SAVE earns a native yield generated from a combination of lending its collateral on @compoundfinance and @AaveAave and fees earned from mStable SWAP.

4/ mStable SWAP allows anyone to swap USDT, DAI, USDC, and TUSD with zero-slippage.

0-slippage swaps are possible because prices are not dependent on liquidity thanks to SWAP's constant sum bonding curve.

SWAP's fixed bps fees are paid to mUSD deposited into SAVE.

5/ mStable is distributing Meta (MTA) tokens to a wide community of Meta Governors through ecosystem rewards and sales.

MTA tokens have 3 functions:
🛡️ protect and also insures / re-collateralizes the system in emergencies
⚖️ governance of mStable
🌊 bootstrap mAsset liquidity

6/ Users will be able to stake their MTA tokens, becoming Meta Governors, to earn a portion of mStable's total revenue and to propose and vote on protocol changes such as

- add/remove mAssets
- adjust basket assets and max weights
- change SWAP fees
- change MTA revenue

7/ mStable is launching its protocol token Meta (MTA) on Balancer at approximately 14:00 UTC on Wednesday, July 15th 2020.

Learn more about mStable's design and how you can get your hands on tokens via ecosystem rewards in the mean time defipulse.com/blog/introduci…