What is mStable
Meta (MTA) is the native token of the mStable protocol, which is a non-custodial stablecoin infrastructure. Take a look at the mStable price chart above if you want to see the current MTA price.
The mStable protocol was created due to three major problems. The first problem is that there are at least five major crypto assets pegged to the USD on the Ethereum blockchain. The second problem is that there is a lack of yield in both fiat currencies and pegged crypto assets. The third problem is that pegged crypto assets usually lack protection when it comes to permanent capital loss. mStable aims to fix these problems by creating meta-assets (mAssets) that are completely backed by many assets having the same base.
mAssets are non-custodial, stable, and yield-bearing. Besides, each mAsset diversifies risk across several asset issuers and stability mechanisms and limits exposure to any one asset. mUSD and mBTC are the two mAssets available on the mStable protocol, as of writing this. However, more assets will be introduced in the future.
Also, note that the mStable protocol features liquidity pools that help users swap between different pegged crypto assets at affordable prices. Besides liquidity pools, though, the mStable protocol also has a non-custodial savings account, designed to allow users to earn interest from their pegged-value crypto assets, and the swap feature, which allows the trading between value-pegged assets.
mStable Team
mStable was founded by two entrepreneurs, James Simpson and Henrik Andersson. James is the CEO of this platform, with a vast history as an investment analyst in Apollo Capital. His partner, Henrik, is the lead advisor at mStable, with skills as an advisor at Apollo Capital.
These individuals met at Apollo Capital, where they shared a passion for starting a blockchain project. They started to work on uniting lending, swapping, and saving into a single standard. Their aim was to bring smooth and efficient trading with the existing stablecoins in the market.
Use Cases of MTA Tokens
MTA tokens were created for two purposes – governance and incentives.
In terms of governance, by staking MTA tokens, users can become Meta Governors who have the right to vote on various decisions concerning the further development of the mStable crypto project.
Considering incentives, MTA tokens are used to reward users who bootstrap the liquidity and utility of mAssets.
Interested in acquiring mStable coins? Before doing that, make sure to analyze the mStable price chart above. Knowing the main trends in the MTA price changes will help you to make more informed purchasing decisions.
