MUSD is a decentralized stablecoin based on Ethereum that aims to keep its value constant at $1.00. MUSD is not backed by US money in a bank account, unlike centralized stablecoins. Rather it is supported by a number of other stablecoins that have been placed as collateral on the mStable system.
About mStable USD
By combining stablecoin exchanging and lending, mStable’s mUSD solves both the fragmentation of USD-pegged stablecoins and the absence of native yield. It accomplishes so while simultaneously providing total capital loss protection (more on that in a bit). mUSD is a USD-pegged token secured by a portfolio of popular stablecoins, with developed yield from mStable SWAP fees and Compound and Aave lending collateral. To be more specific, mStable assets like the mUSD are LP shares in a dynamic pool of assets that produces yield, has no slippage swaps between its underlying assets, and function as a first-class asset.
What is mStable USD [mUSD]?
mStable is a self-contained, non-custodial stablecoin infrastructure that provides decentralized finance platforms and protocols with a basic layer collateral mechanism on which DeFi apps may be built. mStable is a meta-asset platform with the goal of making assets that are more than the sum of their parts. mUSD is a mStable asset (mAsset) that is backed by a basket of USD-pegged stablecoins and has the following features:
- Deep liquidity pool for effective and economical stablecoin exchange
- Mintable and convertible for a single underlying asset or a group of assets
- A low-risk native interest rate that combines loan revenue and trading fees to provide a large return.
- SWAP – Swap USD stablecoins with 0% slippage is one of the mUSD dApps.
- SAVE – Anyone anywhere may open a USD savings account.
Who Are the Founders of mStable USD [mUSD]?
James Simpson and Henrik Andersson, who met at Apollo Capital, established mStable. After getting hands-on experience with a variety of stablecoins and lending systems, they set out to create a single standard that would include lending, trading, and saving, as well as address the numerous sources of friction that current stablecoin users face. With a founding team of nine individuals and a network of thousands donating their voice and votes to control the protocol via decentralized governance, this initiative became mStable.
What Makes mStable USD Unique?
The fundamental stablecoins are represented by mUSD, rendering it a more generalized and safe depiction of USD on the blockchain. It may be created and redeemed without authorization using any whitelisted USD-pegged stablecoin using the mStable smart contracts. mUSD is also distinctive in that it delivers some of DeFi’s finest risk-adjusted savings APYs. This APY is derived from a variety of sources, including swap fees, loan revenue, and liquidated tokens farmed by mStable contracts. The mStable protocol is controlled by a broad group of stakeholders who gather and share ideas, make comments, and vote on proposals targeted at boosting the protocol.
Where Can You Buy mStable USD [mUSD]?
If you’re looking to acquire mStable USD, the best cryptocurrency exchanges to use right now are CoinBase Exchange and Hotbit.
Frequently Asked Questions
How many MUSD coins are there in circulation?
The maximum supply is not known, although it has a circulating supply of 41,085,970 MUSD coins.
Are there any quick ways to buy mStable USD [mUSD] in Europe?
Yes, in reality, Europe is one of the easiest countries to acquire cryptocurrency in general. There are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
On what factors does the price of mStable USD [mUSD] Depend?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact mStable USD price and market cap.
mStable USD Official website – https://mstable.org/
mStable USD Medium – https://medium.com/mstable
mStable USD Twitter – https://twitter.com/mstable_
