What is mStable? —— DeFi Popular Science SeriessteemCreated with Sketch.

in CryptoDog • 5 years ago

What is mStable?

mStable is an asset aggregation protocol that can merge a basket of similar assets into a more powerful synthetic asset.

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What's the use of mStable?

The newly generated synthetic assets have functions such as interest-generating and anchoring insurance with the help of a basket of mortgage assets. mStable plans to provide a new US dollar stable currency (mUSD), a new gold anchor currency (mGLD) and a new bitcoin anchor currency (mBTC). Currently, mStable has provided a 1:1 stable currency exchange with zero slippage. You can mint mUSD by depositing TUSD, DAI, USDC, USDT.

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mStable's original plan (postponed)[1] At 14:00 (UTC) on July 15th, it will issue Meta(MTA) tokens on Balancer as its protocol tokens for the insurance protection of drag anchors and coordinate decentralized governance And to stimulate the liquidity of mStable assets.

Is mStable safe?

mStable has a bug reward program[2] program. The latest public audit report [3] is provided by Bramah.

References

[1] MTA launch plan: https://medium.com/mstable/meta-mta-genesis-update-8f50862bbcfc
[2] Vulnerability reward program: https://docs.mstable.org/protocol/security/mstable-bug-bounty
[3] Audit report: https://docs.mstable.org/protocol/security#auditing

5 years ago in CryptoDog by
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