MTA is the governance token for the mStable protocol.
MTA token is used for
- Governance – changing or adding parameters to the mStable protocol.
- Intial rewards for early users of mStable.
- Re-collateralization of mUSD stablecoin (and other mASSETS)
What is mStable
A single protocol for:
How mStable works
A user deposits a stablecoin and mints mUSD. With mUSD the user can:
- Swap between stablecoins at zero price slippage for a small trade fee.
- Stake mUSD and earn yield from lending and trade fees.
- Insurance from a single stablecoin losing it’s peg.
The same could be done with other assets going forward.
Zero price slippage
By a straight line bonding curve between mUSD and basket assets. Only restriction is the max weights for a single asset in the basket.
From trade fees and lending. mStable lends the basket assets on Aave and Compound to generate yield.
If for example USDT loses its peg, mStable could remove that USDT and recover lost value by selling MTA for the outstanding mUSD.
Read more about how it works in the docs.
Total supply: 100 000 000
- Investors and partnerships: 20.2%
- Team and advisors: 15.5%
- Public Rewards: 51%
- Institutional Rewards: 6.7%
- Mesa auction and BAL pool seeding: 3.2%
- Future contributors: 3.5%
MTA IDO price: $1.81
MTA can be issued to contributors via community grants.