New protocols are constantly coming online in DeFi, with protocols using stablecoins being the most common. There are currently over 70 stablecoins in circulation, but no protocol supports all stablecoins.
Because anchoring the same asset in different protocols can appear as different tokens, users often need to swap between these tokens. mStable is built to solve this problem.
What is mStable?
mStable is an Ethereum-based stablecoin aggregation protocol, minting a basket of underlying assets, bAsset (Basket Asset, e.g. USDT, DAI), into mAsset (e.g. mUSD, mBTC) with certain weighting through smart contracts. Currently the meta-assets that can be minted are mUSD anchored by USD and mBTC anchored by BTC.
mStable is designed to solve the following 3 problems.
Significant fragmentation when anchoring the same asset and poor user experience. mStable wants to solve the problem of using the same-peg assets in different protocols but constantly swapping between them.
Lack of yield for assets.
We współpracy z: https://cryptoslate.com/is-mstable-truly-innovative-or-simply-redundant/
