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. 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
Head to the mStable **[app](http://app.mstable.org/) and click on 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?
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:
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!
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).
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...
Would you like to earn MBTC right now! ☞ CLICK HERE
*Top exchanges for token-coin trading. Follow instructions and make unlimited money *
Thank for visiting and reading this article! I'm highly appreciate your actions! Please share if you liked it!
Name: Psychedelic Bart a.k.a. Psycho Bart
BTC to INR – Buy / Trade Bitcoin with Indian Rupee on Koinbazar, India's leading bitcoin & cryptocurrency exchange.
Bitcoin and Cryptocurrencies | Documentary On The Genesis Of Crypto Money | Well made full length documentary on "what is bitcoin?" and it's genesis. Going back to the day Satoshi Nakamoto proposed a radical new form of electronic money.
The prupose of this article is to provide a method to automate cryptocurrency trading through either Web, or iOS/Android app eToro.
The amount that Bitcoin has grown in recent years is staggering. In around a decade or so, it has gone from a relatively unknown asset to an incredibly popular and valuable cryptocurrency that has made front-page headlines across the world. It has shown a lot of promise and potential in both finance and tech.