|Total Value Locked||24H|
|in ETH||106.6K ETH||-25.9%|
|in BTC||4K BTC||-19.1%|
|TUSD Locked||24.8M TUSD||-2.6M TUSD|
|% Supply Locked||11.15%|
Released in May 2020, mStable is a protocol that unites stablecoins, lending and swapping into one robust and easy to use standard. Three major problems confront stablecoin users: significant fragmentation in same-peg assets; lack of native yield when it is being increasingly demanded by users; lack of insurance against permanent capital loss. mStable's products (SWAP, SAVE and EARN) are built specifically to address these pain-points. mStable assets represent some underlying value peg and are minted/redeemed on-chain via smart contracts. mASSETS are backed 1:1 by a basket of existing tokenised same-base assets. Each mASSET is a liquidity share for its asset pool as well as a medium of exchange, unit of account and store of value in its own right. Each mASSET has an outsized native interest rate that is derived from lending basket assets on third party lending protocols combined with fees collected from mStable's SWAP product. Users can swap between basket assets with zero price slippage, regardless of order size. For example, in mUSD, users are able to swap 1 DAI for 1 USDC at no cost, except gas and a small fee. The protocol token Meta (MTA) serves as insurance against permanent loss for all mASSETS. The token receives a percentage of all system revenue in compensation. In order to achieve long-term value of Meta, holders are motivated to seek stability through the diversification and growth of the system.