mStable Governance: Meta

MTA Price

What is MTA?

Meta (MTA) is the governance token of the mStable ecosystem. mStable is currently under the process of decentralizing its operations to create a robust community of incentivized and competent governors to guide the platform through its next phase of growth.

MTA has three core functions:

1. To coordinate decentralized governance. 
2. To act as the ultimate source of re-collateralization for the protocol.
3. To incentivize bootstrapping of mAsset liquidity, utility, and a community of governors.

MTA token holders can stake (i.e., deposit in a governance smart contract) their tokens to become protocol governors, allowing them to govern the mStable protocol, where they can decide on the:

• Addition/removal of mAssets
• Addition/removal of bAssets and their max weights
• Redemption and minting fees of mAssets
• Selection of oracles

And in return for performing these functions, governors that stake MTA will earn staking rewards in MTA.

What is mStable?

mStable is a protocol that unites stablecoins, lending, and swapping into one robust standard - making them a stablecoin infrastructure. mStable offers a range of services in which users can:

• Swap: USD stablecoin swaps with zero-slippage. 
• Save: A non-custodial savings account that allows users to have an mUSD savings account. 
• Earn: MTA yield farming program to boost the liquidity of mUSD. Users can stake various Liquidity Provider (LP) tokens to earn MTA. 

mUSD is a stablecoin that is backed by USDT, USDC, sUSD, and TUSD. Users can convert mUSD into imUSD to earn returns. Similar to how yUSD by Yearn Finance and Curve works, imUSD is a pool of yield-bearing USD tokens. The underlying USD tokens are lent on decentralized lending markets such as Compound and AAVE. imUSD holders will have three sources of yield:

1. Lending return 
2. Swap fees
3. MTA yield farming rewards

The returns are claimable in the form of mUSD. If one of the USD tokens is de-pegged from USD, staked MTA will be liquidated to re-collateralize mUSD.

Basically, mUSD is a stablecoin and imUSD is the yield-bearing version of it.

The team is looking into releasing other forms of mAssets. mBTC was released in February 2021, backed by wBTC, renBTC, and sBTC, with imBTC being the yield-bearing version of mBTC.

How is mStable different from other stablecoin pools?

Currently, most pooled stablecoins suffer from a problem known as ‘permanent loss’ of peg. For instance, if one of the stablecoin in the pool goes significantly below the peg of $1, users are incentivized to refill the pool up with that stablecoin completely, redeem anything of value, and ultimately draining all value from the pool – potentially leaving the liquidity provider with naught.

mStable is different in that they have a mechanism that caps risk during its re-collateralization process:

mStable sets maximum weights for each underlying asset. A max weight caps the exposure a liquidity provider has to that asset. When an underlying asset reaches its max weight, it will no longer be minted with or swapped out. 
 
Similarly, users can only redeem the full basket at its current proportions when a max weight is hit. 
 
During a permanent peg loss, users can only fill the basket with a failed asset to a maximum degree and only redeem the basket’s net asset value. Therefore, the risk is capped. 

Why was mStable started?

Standard tokenized assets usually have the issues of concentrated counterparty risk and fragmentation. mStable solves this by uniting and collateralizing multiple assets into one optimized asset per peg. mStable was also created to solve these issues that confront stablecoin users:

• Lack of yield in fiat currencies and stablecoins
• Lack of protection against capital loss in stablecoins

How to obtain MTA?

You can obtain MTA by purchasing them from cryptocurrency exchanges such as Uniswap or Huobi. You can find MTA trading on various centralized and decentralized cryptocurrency exchanges.

Besides that, as mentioned earlier, you can also earn MTA through staking your MTA on mStable. 

Where can you buy mStable Governance: Meta?

MTA tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade mStable Governance: Meta is Velodrome Finance V2 (Optimism), where the most active trading pair USDC/MTA has a trading volume of $2,377.45 in the last 24 hours. Other popular options include Uniswap V2 (Ethereum) and Balancer V2 (Polygon).

What is the daily trading volume of mStable Governance: Meta (MTA)?

The trading volume of mStable Governance: Meta (MTA) is $2,494.86 in the last 24 hours, representing a 255.60% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for mStable Governance: Meta (MTA)?

mStable Governance: Meta (MTA) reached an all-time high of $11.03 and an all-time low of $0.008480. It’s now trading -99.70% below that peak and 270.00% above its lowest price.

What is the market cap of mStable Governance: Meta (MTA)?

Market capitalization of mStable Governance: Meta (MTA) is $1,739,214 and is ranked #2491 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of MTA tokens (55 Million tokens are tradable on the market today).

What is the fully diluted valuation of mStable Governance: Meta (MTA)?

The fully diluted valuation (FDV) of mStable Governance: Meta (MTA) is $2,652,852. This is a statistical representation of the maximum market cap, assuming the maximum number of 100 Million MTA tokens are in circulation today. Depending on how the emission schedule of MTA tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of mStable Governance: Meta compare against its peers?

With a price increase of 3.90% in the last 7 days, mStable Governance: Meta (MTA) is outperforming the global cryptocurrency market which is down -3.30%, while outperforming when compared to similar Exchange-based Tokens cryptocurrencies which are down -4.00%.

How to add mStable Governance: Meta (MTA) to MetaMask?

Adding mStable Governance: Meta (MTA) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import MTA as a token. You can copy MTA’s contract address (0xa3bed4e1c75d00fa6f4e5e6922db7261b5e9acd2) and import it manually, or if you've installed MetaMask's chrome extension, add MTA to MetaMask with one click on CoinGecko.

Add MTA to MetaMask.