Stablecoins in DeFi have proven to be an excellent store of value and a medium of exchange within the decentralized framework. However, recent years witnessed the extreme fragmentation of the stablecoin ecosystem. DeFi protocols and investment opportunities initially started out to be DAI-centric but they now incorporate a plethora of other stablecoins. This leaves investors and traders in DeFi constantly juggling between all the available stablecoins to take advantage of these DeFi opportunities on different platforms.
To circumvent this problem, the DeFi protocol mStable has come up with the concept of meta-assets that can be created by combining all these individual stablecoins into a single stable asset. The creation of these meta-assets can prove to be extremely crucial for the stablecoin economy and inturn DeFi as a whole, and we at EPNS are pleased to collaborate with mStable to improve their user experience.
How mStable Benefits from Decentralized Push Notifications
mStable is a DeFi protocol and a meta-asset platform that unites stablecoin lending and swapping to create a decentralized stablecoin ecosystem. It addresses some of the major problems with stablecoins by essentially knitting the fragmented pegged-asset economy into a single standard.
Anyone can mint meta-assets permissionlessly like mUSD on this platform by depositing a 1:1 ratio of other USD-backed assets like USDC, DAI, or USDT. This essentially means that mUSD is more stable, secure, and reliable when compared to DAI because it is fully backed by several stablecoins at once with capped weight limits for each individual stablecoin. So, in a practical sense, mStable allows for the creation of new asset-backed tokens that are greater than the sum of their counterparts, while enhancing the utility of stablecoins through its market-leading savings product.
The entire mStable ecosystem is powered by the native governance token MTA. Users can stake this token to participate in platform governance and earn a share of the monthly staking rewards and platform fees. In this regard, EPNS through this strategic partnership aims to build a communication channel for users and the protocol to help them better collaborate for governance and decision-making.
What Does the Collaboration Entail
Decentralized push notifications are set to become an integral part of the mStable ecosystem once the collaboration gets going. mStable’s official channel on EPNS will be live for users to subscribe to and this will keep them updated about the various steps in the governance process. Users will receive notifications whenever
- A new proposal is submitted for voting
- Changes are made to existing proposals
- Voting process begins
- Voting process ends
- The results of the voting are declared
- The staking vault has been topped up with rewards.
As mStable strives to bring about a significant change in the stablecoin ecosystem, we’re pleased to work with them on this journey and hope to become an integral part of their ecosystem.
About mStable
mStable is an autonomous and non-custodial infrastructure for pegged-value crypto assets. The protocol was created to address problems in the pegged-asset economy like lack of yield, lack of protection, and significant fragmentation. mStable provides a solution to these three problems through the creation of meta-assets, which are fully backed by a diversified basket of existing tokenized same-base assets.