DeFi. Stablecoins. Liquidity mining. These are possibly the three most dominant narratives surrounding crypto in the first half of 2020. mStable, a project undergoing its Initial DEX Offering tomorrow (10 am EST) encapsulates all three of these trends. We wrote about mStable before, but here is a refresher on the MTA token:
- MTA is mStable’s protection: if an underlying collateral asset fails, it is the contingency value that re-collateralizes the system, keeping mUSD and other mStable assets at peg;
- MTA coordinates decentralized governance. Meta stakers will ultimately vote on all system parameters; MTA will be in the hands of users who contribute to mStable assets’ utility and growth;
- MTA incentivizes the bootstrapping of mStable asset liquidity, utility, and a community of Governors. MTA’s possible utility as an incentive will ultimately be determined through community governance.