mStable is building an autonomous and non-custodial infrastructure for pegged-value crypto assets.
mStable was created to address three major problems
- significant fragmentation in same-peg crypto assets (there are currently over 5 major USD pegged crypto assets on Ethereum for example)
- lack of yield in fiat currencies and pegged crypto assets
- lack of protection against permanent capital loss in pegged crypto assets
The solution? mStable Assets, i.e. mAssets
See mAssets and imAssets
mAssets represent some underlying value peg
- Minted/redeemed on-chain via smart contracts
- Non-custodial - no third party ever takes custody of a user's assets
- mStable is a "peer to pool" protocol, where the pool "lives" in a non-custodial smart contract
mAssets are fully backed by a basket of existing tokenised same-base assets
- Each mAsset represents a share of liquidity in that mAsset's pool as well as a pegged crypto asset in its own right
- A mAsset can be used as a medium of exchange, unit of account and store of value
The mStable protocol is governed by Meta (MTA) Governors.
Characteristics
- Non Custodial - mStable users always have custody of their funds.
- Robust - Collateral is diversified across multiple pegged crypto assets.
- Stable - mAsset are pegged crypto assets in their own right.