mStable is controlled not by a single entity but by a decentralised community. Staking MTA is the first step required to participate in mStable's governance.
- Current implementation of
MTA staking to bootstrap governance community
- System is designed to reward and empower early governors that are long-term aligned
- Went live at the end of September 2020
- Once a Meta holder locks their tokens in the staking contract and begins voting on proposals they become a Governor
- Meta holders must stake MTA in the staking contract to participate in voting via snapshot with staked their Meta
- Must stake for a minimum of one week or a maximum of one year (at launch)
- In return for staking, users will receive MTA rewards and vMTA, which represents their voting weight for proposals.
- Longer staking lockups result in higher staking returns (in
MTA) and higher voting weights
MTA does not expose the staker to loss in the event of a bAsset losing its peg
- Stakers will need to manually migrate over to the V2 contract when it goes live (assuming v2 is approved by these same governors)
- Stakers can lock up their tokens for a period of time that ranges from 1 week from lockup to the end of September 2021. By this time, Staking V2 is expected to have been implemented with
MTA staking migrated over to the new contracts
Read more about Staking V1 voting weights and rewards.
Benefits of staking $MTA
- Applied boosts to yields on mStable app including Save and Pools
- Earn a pro-rata share of monthly staking rewards
- Participate in decentralized governance with rights to vote