What Is mStable USD (mUSD)?
mUSD is a stablecoin that belongs to the mStable platform, which is a stablecoin infrastructure that combines stablecoin swapping, lending, saving, and a variety of mStable assets. Besides, developers can build decentralized applications (dApps) on top of mStable since it provides them with a base layer collateral protocol. The native token of mStable platform is MTA. If you're interested in the current mUSD price, check out the mStable USD price chart above to see that yourself.
mStable has a variety of stablecoins (or mStable assets). mUSD, however, is the one that is backed by a basket of stablecoins that are pegged to the US Dollar. This includes USDC, USDT, DAI, and sUSD. The mStable smart contracts allow for the permissionless creation of mUSD and redemption using the stablecoins from the basket it is backed by. Besides, the basket ensures that the mUSD price stays pegged to the price of the US Dollar at a 1:1 ratio.
This essentially means that the mStable USD price stays pretty stable, even during the fluctuations of the whole crypto market. Though note that the mUSD price is still subject to some degree of fluctuation. However, it usually stays very close to $1.
Overall, mUSD tokens can be swapped with other USD stablecoins, transferred into an mUSD saving account, or converted into imUSD to generate yield. imUSD essentially is a pool of USD tokens that are able to bring yield and that can be lent on such lending markets as Compound.
Due to its competitive risk-adjusted saving annual percentage yields (APYs), mUSD stands out among other DeFi products. The aforementioned APYs derive from the lending returns, token swapping fees, and MTA token farming returns.
The Founders of mStable
James Simpson and Henrik Andersson are the founders of mStable.
James Simpson is the CEO of mStable. Prior to founding mStable, he worked as a Data Analytics Consultant at KPMG Australia. Besides, he is also an Advisor at Apollo Capital.
Henrik Andersson is the Lead Advisor of mStable. In the past, he worked at such companies as Enskilda Securities, EAF, Precise Asset Management, Meld Gold, and so on. Besides, he also co-founded Bitcoin Exchange and is currently working as the CIO of Apollo Capital and the Honorary Senior Advisor at Monash University.
