What Is mStable Governance Token (MTA)?

What Is mStable Governance Token (MTA)? Complete Guide Review About mStable Governance Token.

What Is mStable Governance Token (MTA)?

mStable Governance Token are minted or redeemed on-chain via the mStable smart contracts, which are non-custodial. This means that no third party ever takes custody of a user’s assets. In other words, mStable is a “peer to pool” protocol, where the pool “lives” in a non-custodial smart contract. Each meta-asset represents a share of liquidity in the underlying asset pool and is a pegged-value crypto asset in its own right. A meta-asset can be used as a medium of exchange, unit of account and store of value. This addresses fragmentation in same-peg crypto assets by providing an single meta Asset per peg which unifies any number of underlying same-base assets.

mStable Governance Token Storage Key Points

Coin BasicInformation
Coin NamemStable Governance Token
Short NameMTA
Circulating Supply17,336,543.53 MTA
Total Supply99,995,245
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

High-yielding

Each meta-asset is designed to produce an outsized native interest rate when deposited in mStable’s Save contracts. This rate is derived through the mStable contracts autonomously and programmatically lending underlying assets to third party lending protocols, generating interest income. The mStable Governance Token contracts simultaneously allow for underlying assets to be exchanged or “swapped” for a fee. All interest and exchange income is automatically and programmatically sent to savers.

Robust

mStable Governance Token issues assets that are designed to be more secure than the sum of their parts. Each meta Asset diversifies risk between different asset issuers and stability mechanisms, and caps exposure to any one asset. In the future mStable could offer protection against the peg-loss of an underlying asset through use of the protocols native governance token to re-collateralize meta-assets.

Decentralised

The mStable protocol is governed by holders mStables native Governance token, MTA, who vote on proposals to make important decisions about the protocol.Every participant who interacts with mStable has the option to earn MTA either through staking, for providing liquidity (through Feeder Pools or third-party protocols) or by saving mUSD or mBTC through mStable’s Save contract. MTA is emitted in this way to facilitate decentralised, collective and user-driven governance. MTA can be staked on mStable for participation in Governance and for rewards distribution.

Use cases

Aside from minting mStable Governance Token or mBTC to utilise in DeFi or generate yield with mStable’s Save, there are a number of other important use cases for the mStable platform which each contribute to the ecosystem. mStable’s liquidity pools are used to facilitate efficient Swaps between pegged crypto assets, contributing swap fees to savers. Arbitrageurs can take advantage of arbitrage opportunities within the mStable pools, generating swap fees and rebalancing the weights of assets in the pools in the process. mUSD or mBTC can also be used to provide Liquidity in Feeder Pools to earn fees while supporting additional onramps to mStable assets from other same-base assets.

What’s the utility of MTA?

mStable Governance Token is used for liquidity mining to bootstrap a decentralised community of governors. MTA can be staked to earn staking rewards and boosted rewards across the protocol to incentivise long-term holders.By staking, MTA governors can vote on the direction of the protocol, parameters and funding.As the protocol grows, value accrual mechanisms will be used to continuously drive value to MTA.

For example, a buyback and make mechanism has been recently implemented to buyback MTA on Balancer. Information on how to get started staking your MTA can be found here. More detail on staking and how to take to part in mStable governance can be found in your Governance Docs.

mStable App

The mStable Governance Token App is the easiest way to interface with the mStable protocol. The app allows users to Save, Swap, provide liquidity and view activity across mStable.To get started, simply visit https://mstable.app and connect your wallet using your chosen wallet provider. The mStable app works on both Ethereum main net and Polygon. Use the switcher on the right side of the top navigation bar to switch networks. The following sections will walk through and explain the functionality available in the app.