Join Delphi Research today and immediately get access to our full Member Portal!
Join Delphi Research today and immediately get access to our full Member Portal!
Back

Another Protocol for Yield Farmers – Enter mStable

Jun 18, 2020 · 4 min read

By Paul Burlage

Our past Daily’s on Balancer and Compound highlight the memetic power of “yield farming” and “liquidity mining” within the defi ecosystem. mStable, a stablecoin liquidity and lending protocol, is another project that fits within this narrative. Users can deposit stablecoins into a stablecoin basket and receive a proportional amount of mUSD. mUSD can be redeemed 1:1 for any basket asset. As of writing, the total mUSD supply sits at 671,352.09.

 

Saving

In addition to a stablecoin pool supporting the native mUSD stablecoin, mStable has a ‘saving’ mechanism. Depositing mUSD into a saving’s contract allows one to earn a native APY. The APY derives from the interest accrued from lending assets on compound and aave, as well as trading fees. The historical APY is listed in the image below. The total mUSD supply in savings is currently 469, 395 mUSD.

Upgrade your account to Delphi Insights to unlock full access to this report!

Join Now