Meta (MTA) and mStable (MUSD) form an autonomous, non-custodial stablecoin infrastructure intended to serve as a decentralized finance (DeFi) platform and a base layer collateral protocol for building DeFi applications. The mStable meta-asset platform aims to produce assets that exceed the value of their individual components.

As the protocol token for mStable, Meta (MTA) serves three purposes: coordinating decentralized governance, incentivizing the bootstrapping of mAsset liquidity, and empowering a decentralized community of Governors. Consequently, MTA governs mStable, with users determining every system parameter. To engage in governance, users must stake MTA and vote on proposals, which grants them the role of Meta Governor.

James Simpson and Henrik Andersson are the co-founders of mStable.

Simpson serves as the CEO of mStable and previously held a role as an investment analyst at Apollo Capital. Andersson acts as the lead advisor for mStable, while also serving as an advisor at Meld Gold and the CIO of Apollo Capital.

The two met while working at Apollo Capital. After gaining experience with various lending platform and stablecoin initiatives, they began developing a unified standard for saving, swapping, and lending. Their objective was to eliminate the friction users faced with existing stablecoins, a venture that ultimately evolved into mStable.

mStable operates a noncustodial smart contract that functions as a stablecoin liquidity pool, accepting deposits of whitelisted stablecoins.

The SWAP feature tackles liquidity fragmentation among various stablecoins and assets. Users can redeem MUSD tokens for any underlying asset at a 1:1 ratio, irrespective of price fluctuations. This mechanism ensures zero slippage and employs a straight-line bonding curve, which drives significant swap volume from users arbitraging price discrepancies.

SAVE addresses yield generation by providing a high annual percentage yield (APY). By holding MUSD, users gain access to a high savings rate derived from interest earned through the automatic lending of underlying assets to Save and Compound.

MINT enables the creation of MUSD, a process essential for supporting mStable’s high APY. Currently, 14 million stablecoins serve as collateral, having generated 40 million MUSD that backs the circulating supply.

EARN encourages users to enhance MUSD liquidity within DeFi, aiming to boost the token’s utility and liquidity. To achieve this efficiently, mStable distributes MTA tokens.

By aggregating participants from diverse asset markets, mStable enhances liquidity, improves safety by diversifying pegging mechanism risks, and alleviates congestion by incentivizing liquidity entry into the system.

In March 2021, the circulating supply of Meta (MTA) stood at 17,336,544 tokens, while its maximum supply is capped at 100,000,000 MTA.

mStable employs a comprehensive strategy to maintain network security. At the macro level, it relies on a strong plan for decentralizing governance, while the micro level emphasizes the importance of code formatting, documentation, testing protocols, and audits. Additionally, the protocol offers an open reward pool to incentivize the identification and reporting of vulnerabilities.

You can purchase and trade Meta (MTA) on these exchanges: