Introduction to MTA(Meta)
mStable unites stablecoins, lending and swapping(products SWAP, SAVE and EARN) into one standard. mStable assets represent some underlying value peg and are minted/redeemed on-chain via smart contracts. mASSETS are backed 1:1 by a basket of existing tokenised same-base assets (hereafter bASSETS). Each mASSET is a liquidity share for its asset pool as well as a medium of exchange, unit of account and store of value in its own right.
Users can swap between bASSETS with zero price slippage, regardless of order size. For example, in mUSD, uses are able to swap 1 DAI for 1 USDC at no cost, except gas and a small fee.
The protocol token Meta (MTA) serves as insurance against permanent loss for all mASSETS. Those who hold Meta can stake their tokens to become governors, allowing them to participate in governance of the system. In order to achieve long-term value of Meta, these governors are motivated to seek stability through the diversification and growth of mStable.
Total supply: 100,000,000 MTA