1613527539
What is mStable BTC (MBTC) | What is mStable BTC token | What is MBTC token
mStable’s new mAsset, mBTC, unites various Bitcoin-pegged ERC20 tokens. The mBTC token can be minted with wBTC, renBTC and sBTC, and users can redeem mBTC for those three previously mentioned Bitcoin-pegged tokens. Binance’s bBTC is scheduled to be added in March fo 2021 in mStable’s first Feeder Basket.
Today, we are excited to announce the launch of mStable’s second mAsset, mBTC.
Choose your mAsset at app.mstable.org
- mBTC is a meta-stablecoin based on tokenised Bitcoin, with a weight-limited basket of assets and a native interest rate.
- mBTC is the second meta-stablecoin released by mStable, following mUSD. Meta-stablecoins, or mAssets as we call them, are an important primitive in DeFi: they enable a step-change in capital efficiency and will be used to bridge and unify value securely and efficiently (more of this to come in a future post!)
- Smart contract security is mStable’s number one priority. It has been decided that this will be a guarded launch, a concept first articulated by Ken Deeter of Electric Capital. This means there will be mBTC TVL caps in the first few weeks post deployment. This is in addition to mStable recently doubling our bug bounty. mBTC has also been audited by Peckshield.
Get started
- Head to the mStable app and click on mBTC!
What is mBTC?
mStable’s new mAsset, mBTC, unites various Bitcoin-pegged ERC20 tokens.The mBTC token can be minted with wBTC, RenBTC and sBTC, and you can redeem it for those three Bitcoin tokens. Binance’s bBTC will be added next month in our first Feeder Basket. You can read more about the Feeder Basket concept here.
mBTC is also the first implementation in DeFi of a fully-functional meta-stablecoin producing AMM 🔥
What do mAssets and mBTC enable?
- Built-in risk minimisation: All Bitcoin representations on Ethereum expose the holder to some level of risk. Moving Bitcoin to Ethereum is an imperfect exercise and there is non-zero risk of one or multiple of these mechanisms failing for technical or regulatory reasons, for example. mBTC is built from the ground-up with this tail risk in mind: if a tokenised BTC fails, it will not be catastrophic for the holder of mBTC, because mBTC caps the holder’s exposure to that asset. Soon, the mStable protocolDAO will be proposing a recollatoralisation feature, which will use MTA to back up all mAssets. This will mean that the holder may not even notice if an underlying asset fails.
- Abstraction value: mBTC is an abstracted, synthetic version of BTC. This abstraction layer allows mStable to use the collateral assets more efficiently to generate an outsized yield for savers (see below) while enabling new types of features, not possible with the underlying collateral. One such feature is the vision that mAssets will be used as bridge currencies, connecting and unifying tokenised representations of value, regardless of where that value is. There is a world where mAssets can be backed by collateral on any chain or layer (layer 1 or 2 Ethereum) but could move freely between those “jurisdictions”. Given mAssets are backed by fully-functional AMMs, users can redeem mAssets for their pegged asset of choice at any time.
- Capital efficiency: mStable doesn’t inextricably connect the capital value of deposits with their future income (the LP token model). Instead, mStable separates the capital from the yield. This enables several things: one, it means mStable can be uniquely flexible with the income it generates. Second, it means that the mBTC deposited in Save is able to be used _itself _to generate even more yield, beyond that which has been generated by the underlying collateral.
mBTC is the first implementation of StableSwap’s powerful bonding curve into mStable. As background, the AMM design used for mUSD, the first mAsset, is called the Constant Sum Market Maker, with the invariant ∑i xi = k. With the CSMM, underlying assets can be minted, redeemed and swapped 1:1. With StableSwap, mStable is able to significantly increase the utility of mAssets while retaining and extending the core traits of mAssets. This AMM will enable:
- flexibly ensuring specific collateral weights (i.e. through minimum and maximum weight limits)
- more composable mAssets
- guaranteed liquidity owing to the introduction of the bonding curve
- increased swap volume (modelled)
- reduced implementation risk
- enable mAsset “feeder baskets”, making mStable scalable without adding to system risk (more information to come in a future MIP)
- leverage each mAsset’s save rate
mBTC Save
mBTC increases capital efficiency through combining possible lending income (placing deposits on on Compound or AAVE, for example) or investment income (i.e. in a yvault) of collateral assets with native trading fees from the AMM (called Swap).
All of this income is sent, in mBTC, to mBTC save. The mBTC deposited could also theoretically be used to generated even more yield. Users that deposit into this savings account receive the imBTC token, that can be used throughout DeFi.
There’ll be a lot of updates in regards how Meta Governors can decide to increase the yield in this feature: the vision is to make imBTC the Bitcoin collateral of choice in DeFi. Expect to hear a lot more about integrations in the coming weeks and months!
Sushiswap Earn pool
mBTC has launched with an earn pool on Sushiswap. Currently there is a pro-rata amount of MTA allocated to that pool, and these rewards will ramp up to 15k/week as the guarded launch matures (see below).
Guarded Launch
DeFi systems can design in configurable rules and thresholds that intentionally limit the functionality of a system. A new contract is deployed in a “guarded launch” with a conservative set of parameters, allowing users to interact with a product in a limited scope. As users and developers gain confidence in a system over time, governance processes can act to relax these risk controls to allow the system to grow and unlock scale.
— Ken Deeter, Electric Capital
To further demonstrate mStable’s focus on smart contract security best practice, mBTC is doing a guarded launch, with a max TVL limits gradually increasing overtime. This is partly due to the introduction of the AMM.
We hope that other projects follow this launching method. Thanks Ken for leading the way with the concept.
We should also note that swap fees will start high (20bps) and decrease to 4bps at the end of the guarded launch. This is to dampen any outsized arbitrage that would appear during early weeks when mBTC will have a enforced low TVL.
Looking for more information…
☞ Website ☞ Website 2 ☞ Explorer ☞ Explorer 2 ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
Would you like to earn MBTC right now! ☞ CLICK HERE
*Top exchanges for token-coin trading. Follow instructions and make unlimited money *
☞ Binance ☞ Bittrex ☞ Poloniex ☞ Bitfinex ☞ Huobi
Thank for visiting and reading this article! I’m highly appreciate your actions! Please share if you liked it!
#bitcoin #crypto #mstable btc #mbtc
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Buddha Community
1613527539
What is mStable BTC (MBTC) | What is mStable BTC token | What is MBTC token
mStable’s new mAsset, mBTC, unites various Bitcoin-pegged ERC20 tokens. The mBTC token can be minted with wBTC, renBTC and sBTC, and users can redeem mBTC for those three previously mentioned Bitcoin-pegged tokens. Binance’s bBTC is scheduled to be added in March fo 2021 in mStable’s first Feeder Basket.
Today, we are excited to announce the launch of mStable’s second mAsset, mBTC.
Choose your mAsset at app.mstable.org
- mBTC is a meta-stablecoin based on tokenised Bitcoin, with a weight-limited basket of assets and a native interest rate.
- mBTC is the second meta-stablecoin released by mStable, following mUSD. Meta-stablecoins, or mAssets as we call them, are an important primitive in DeFi: they enable a step-change in capital efficiency and will be used to bridge and unify value securely and efficiently (more of this to come in a future post!)
- Smart contract security is mStable’s number one priority. It has been decided that this will be a guarded launch, a concept first articulated by Ken Deeter of Electric Capital. This means there will be mBTC TVL caps in the first few weeks post deployment. This is in addition to mStable recently doubling our bug bounty. mBTC has also been audited by Peckshield.
Get started
- Head to the mStable app and click on mBTC!
What is mBTC?
mStable’s new mAsset, mBTC, unites various Bitcoin-pegged ERC20 tokens.The mBTC token can be minted with wBTC, RenBTC and sBTC, and you can redeem it for those three Bitcoin tokens. Binance’s bBTC will be added next month in our first Feeder Basket. You can read more about the Feeder Basket concept here.
mBTC is also the first implementation in DeFi of a fully-functional meta-stablecoin producing AMM 🔥
What do mAssets and mBTC enable?
- Built-in risk minimisation: All Bitcoin representations on Ethereum expose the holder to some level of risk. Moving Bitcoin to Ethereum is an imperfect exercise and there is non-zero risk of one or multiple of these mechanisms failing for technical or regulatory reasons, for example. mBTC is built from the ground-up with this tail risk in mind: if a tokenised BTC fails, it will not be catastrophic for the holder of mBTC, because mBTC caps the holder’s exposure to that asset. Soon, the mStable protocolDAO will be proposing a recollatoralisation feature, which will use MTA to back up all mAssets. This will mean that the holder may not even notice if an underlying asset fails.
- Abstraction value: mBTC is an abstracted, synthetic version of BTC. This abstraction layer allows mStable to use the collateral assets more efficiently to generate an outsized yield for savers (see below) while enabling new types of features, not possible with the underlying collateral. One such feature is the vision that mAssets will be used as bridge currencies, connecting and unifying tokenised representations of value, regardless of where that value is. There is a world where mAssets can be backed by collateral on any chain or layer (layer 1 or 2 Ethereum) but could move freely between those “jurisdictions”. Given mAssets are backed by fully-functional AMMs, users can redeem mAssets for their pegged asset of choice at any time.
- Capital efficiency: mStable doesn’t inextricably connect the capital value of deposits with their future income (the LP token model). Instead, mStable separates the capital from the yield. This enables several things: one, it means mStable can be uniquely flexible with the income it generates. Second, it means that the mBTC deposited in Save is able to be used _itself _to generate even more yield, beyond that which has been generated by the underlying collateral.
mBTC is the first implementation of StableSwap’s powerful bonding curve into mStable. As background, the AMM design used for mUSD, the first mAsset, is called the Constant Sum Market Maker, with the invariant ∑i xi = k. With the CSMM, underlying assets can be minted, redeemed and swapped 1:1. With StableSwap, mStable is able to significantly increase the utility of mAssets while retaining and extending the core traits of mAssets. This AMM will enable:
- flexibly ensuring specific collateral weights (i.e. through minimum and maximum weight limits)
- more composable mAssets
- guaranteed liquidity owing to the introduction of the bonding curve
- increased swap volume (modelled)
- reduced implementation risk
- enable mAsset “feeder baskets”, making mStable scalable without adding to system risk (more information to come in a future MIP)
- leverage each mAsset’s save rate
mBTC Save
mBTC increases capital efficiency through combining possible lending income (placing deposits on on Compound or AAVE, for example) or investment income (i.e. in a yvault) of collateral assets with native trading fees from the AMM (called Swap).
All of this income is sent, in mBTC, to mBTC save. The mBTC deposited could also theoretically be used to generated even more yield. Users that deposit into this savings account receive the imBTC token, that can be used throughout DeFi.
There’ll be a lot of updates in regards how Meta Governors can decide to increase the yield in this feature: the vision is to make imBTC the Bitcoin collateral of choice in DeFi. Expect to hear a lot more about integrations in the coming weeks and months!
Sushiswap Earn pool
mBTC has launched with an earn pool on Sushiswap. Currently there is a pro-rata amount of MTA allocated to that pool, and these rewards will ramp up to 15k/week as the guarded launch matures (see below).
Guarded Launch
DeFi systems can design in configurable rules and thresholds that intentionally limit the functionality of a system. A new contract is deployed in a “guarded launch” with a conservative set of parameters, allowing users to interact with a product in a limited scope. As users and developers gain confidence in a system over time, governance processes can act to relax these risk controls to allow the system to grow and unlock scale.
— Ken Deeter, Electric Capital
To further demonstrate mStable’s focus on smart contract security best practice, mBTC is doing a guarded launch, with a max TVL limits gradually increasing overtime. This is partly due to the introduction of the AMM.
We hope that other projects follow this launching method. Thanks Ken for leading the way with the concept.
We should also note that swap fees will start high (20bps) and decrease to 4bps at the end of the guarded launch. This is to dampen any outsized arbitrage that would appear during early weeks when mBTC will have a enforced low TVL.
Looking for more information…
☞ Website ☞ Website 2 ☞ Explorer ☞ Explorer 2 ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
Would you like to earn MBTC right now! ☞ CLICK HERE
*Top exchanges for token-coin trading. Follow instructions and make unlimited money *
☞ Binance ☞ Bittrex ☞ Poloniex ☞ Bitfinex ☞ Huobi
Thank for visiting and reading this article! I’m highly appreciate your actions! Please share if you liked it!
#bitcoin #crypto #mstable btc #mbtc
1622197808
SafeMoon Clone | Create A DeFi Token Like SafeMoon | DeFi token like SafeMoon
SafeMoon is a decentralized finance (DeFi) token. This token consists of RFI tokenomics and auto-liquidity generating protocol. A DeFi token like SafeMoon has reached the mainstream standards under the Binance Smart Chain. Its success and popularity have been immense, thus, making the majority of the business firms adopt this style of cryptocurrency as an alternative.
A DeFi token like SafeMoon is almost similar to the other crypto-token, but the only difference being that it charges a 10% transaction fee from the users who sell their tokens, in which 5% of the fee is distributed to the remaining SafeMoon owners. This feature rewards the owners for holding onto their tokens.
Read More @ https://bit.ly/3oFbJoJ
#create a defi token like safemoon #defi token like safemoon #safemoon token #safemoon token clone #defi token
1624140000
[LIVE] Bonfire Crypto Analysis - Bonfire Token WITH Shiba Inu Token & ALTCOINS - ADA, BTC
[LIVE] Bonfire Crypto Analysis - Bonfire Token Livestream WITH Shiba Inu Token & ALTCOINS - ADA, BTC
Bonfire crypto has recently been something that has been exploding, we’re starting to see more momentum coming along with it as bonfire token has taken and gained more holders! In this bonfire livestream we will be covering shiba inu & more altcoins.
We will be also talking about cryptocurrencies like:
ada, btc, etc, eth & more. We will also cover safemoon, safemars, and other altcoins in the current market.
📺 The video in this post was made by Josh’s Finance
The origin of the article: https://www.youtube.com/watch?v=093LouoVyqQ
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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Thanks for visiting and watching! Please don’t forget to leave a like, comment and share!
#bitcoin #blockchain #bonfire #token #[live] bonfire crypto analysis - bonfire token with shiba inu token & altcoins - ada, btc #altcoins
1631253579
100X NFT JET TOKEN IS THE CURRENCY OF THE GAMING FUTURE
$JET #tokens is delivering 100x with multiple events and program to earn exclusive #rewards and bonuses. #GameJet is up with 1 billion #token supply.
Gamejet Network ( #Jet Token )
Registration : 50 $Jet Token
Per Referral: 50 $Jet Token
Total Supply : 1,000,000,000
Trxn Burn : 20%
Presale : 40%
Exchange Listing : 5 Platforms
Register: https://gamejet.network/register/JET1628866273
Telegram:https://t.me/GamejetNetwork
Twitter:https://twitter.com/gamejetpro
#BTC #TRX #ETH #Crypto #Airdrop #Axs #Sxp #NFT
1631167449
#GAMEJET NETWORK 100X NFT TOKEN #JET FULL SWING !
$JET #tokens is delivering 100x with multiple events and program to earn exclusive #rewards and bonuses. #GameJet is up with 1 billion #token supply.
Register: https://gamejet.network/register/JET1628866273
Telegram:https://t.me/GamejetNetwork
Twitter:https://twitter.com/gamejetpro
#BTC #TRX #ETH #Crypto #Airdrop #Axs #Sxp #NFT