mStable Governance Token: Meta (MTA)

Overview

mStable is a decentralized protocol for unifying, securing, and governing pegged-value crypto assets. It allows users to unite stablecoins through several DeFi options (like lending and swapping) into one robust and easy-to-use uniform operational standard.

The protocol is completely permissionless/autonomous. It provides SDK (software development kit) to developers so they can create dApps and exchanges all while giving zero slippage swaps. It is also a mechanism that offers native interest rates on your mStable assets.

mStable was created to solve three major issues:

• Significant fragmentation between same-peg assets 

• Lack of native yield with other stablecoins 

• Impermanent loss in pegged crypto assets, especially when using AMMs (e.g. Uniswap) as leverage 

Meta (MTA) is mStable’s protocol token that governs mStable. In order to emit the token to a broad and decentralized group of holders, the MTA token is being emitted as an incentive to users that contribute to mStable asset liquidity and utility, as well as to bootstrap the MTA staking community.

Core Features

Since the collateral is stable, diversified, exterior to the system, and effectively over-collateralized through Meta, mStable is able to be 1–1 backed while remaining protected. The following are its key characteristics: 

• Yield Generating — Platform fees, underlying tokens’ interest, and 20% of Meta is emitted in an open reward pool

• Robust — Collateral is diversified across multiple pegged crypto assets and ultimately backed by system token Meta (MTA)

• Stable — mAsset are pegged crypto assets in their own right

• Accessible — mStable dramatically simplifies the user experience by representing fragmented assets as one optimized token per peg

• Non Custodial - mStable users always have custody of their funds

• Decentralized — Meta embeds the incentives required to govern a decentralized system. Meta Governors will be rewarded when mStable grows securely. Note that  every user can earn `MTA` and participate in mStable's collective governance.

Meta Governance

mStable is controlled by a global community of Meta Governors. One can be a Meta Governor by staking Meta tokens and voting on proposals.

Benefits of staking $MTA

• Yields are boosted on mStable app including Save and Pools

• Receive monthly staking rewards shared proportionally

• Have a right to vote and participate in governance 

For the full guide on how to stake MTA, please visit this article: https://medium.com/mstable/guide-mstable-staking-249660be3e0

Governance Statistics (as of April 2021)

Source: https://www.notion.so/Meta-Governance-8e0f43de5f41406eb3bc3ddbaeb3f5e3

mStable Governance Token: Meta

MTA has three primary functions:

• serve as the core source of re-collateralization 

• facilitate various governance-related activities 

• incentivize liquidity providers

Source: https://www.finder.com/how-to-buy-meta

Tokenomics

The total supply of 100 million MTA tokens will be distributed as follows: 

Source: https://mstable.org/

• Investors and partnerships: 20.2%

• Current team and advisors: 15.5%

• Reserved for Public Rewards: 51%

• Reserved for Institutional Rewards: 6.7%

• Mesa auction and BAL pool seeding: 3.2%

• Future contributors: 3.5%