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The Rise of mStable. How to Yield Farm $MTA in 2020. Here’s What you need to know.

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Mine mStable’s Meta ($MTA) and earn Rewards

DeFi is not just about DAI now. It has diversified into many other stablecoins to extract maximum benefit out there in the DeFi space. Being a new user in the DeFi space can be daunting because choosing the best stablecoin to earn the best yield can be tricky and convoluted. But DeFi is an evolving space and solutions are worked even before the problem comes in full-light. 

Fortunately, mStable comes to the rescue with its meta-assets like mUSD that tackles the scathing issues of dissolution of USD-pegged stablecoins and also the dearth of native yield with the unification of stablecoin swapping and lending. mStable is a stablecoin aggregator of stablecoins to collateralize mUSD to enable traders to protect themselves from huge and permanent capital loss. 

mstable

mStable: Why is it different?

mStable provides users to trade between top stablecoins like USDC and DAI with industry benchmark low slippages concurrently with collateralizing mUSD. If any stablecoin doesn’t do well or experiences price decline, it does not affect the others. Just a month since its launch, yield farming has gained an absolutely astounding amount of attention, which is why mStable’s APY has reached a sharp peak in very little time. 

Introduction to $MTA and mStable

The mStable team has recently launched a new way to release a token to market. The new solution has the potential to grow the community of MTA governors and reboots MTA liquidity. The solution motivates long-term MTA holders paving the way towards a highly liquid MTA market. 

MTA auction on Mesa platform that took place on 18th July on Mesa providing an open auction system, 2.66 million MTA were available for sale. It is a governance token that will be able to stride past important parameters like protocol fees, swap rates, etc with its key stakeholders called Meta Governors. MTA will work as the defense cushion against any capital loss. MTA stakers while rendering the service will earn protocol fees.

mstable
$MTA 7-day Chart

Here is a great video on how to Farm the $MTA token by Bankless

$MTA rewards

The MTA ecosystem will release 20% of MTA’s total supply which amounts to 20,000,000 MTA over the next 5 years. This is a necessary part of the protocol as it will lead to a wider distribution of the Meta tokens and will bootstrap mStable. With rewards incentivization, users will mint more mStable assets leading to liquidity and utility. The mStable’s first reward pool was launched on 26’th June this year on Balancer that created liquidity for mUSD. The Ecosystem rewards will carry on a monthly increase in its first 15 months and then gradually decrease until the allocation is exhausted. 

Earning $MTA through Balancer Pools

As discussed, MTAs first reward pool is a Balancer pool that provides 50% weightage of mUSD and another 50% to USDC. Minting USD can be done by any user by depositing equal portions of mUSD and USDC in the pool. This will immediately navigate the system to earn MTA over and above the BAL token rewards and also the Balance pool profits. The other MTA reward pool is yet another Balancer pool which is mUSD/WETH. 

Meta (MTA) price, marketcap, chart, and info | CoinGecko
Meta (MTA)

A total of 350,000 MTA will be rewarded to liquidity providers of the pool in the first month. Every passing week will provide a snapshot at any time when 50,000 MTA will be allocated to the addresses that are participating. The allocation will be in tandem with their contribution to their respective pools. Minting mUSD can be done by depositing in a 1:1 ratio of USDT, TUSD, DAI into mStable. Multiple stablecoins can be minted at the same time also with limits set on maximum weights for each basket. 

mStable provides stable governance and the MTA token reduces the impact or rather the risks for mUSD holders. If any asset declines in its value causing mUSD to decline in its peg, the Meta governors can vote to wipe off the asset to reconcile the lost value by selling staked MTA tokens for the remaining mUSD.

mstable

Stablecoins are a useful store of value and mUSD takes it a notch above by redefining the functionality and eliminating risks for the holders. While deploying capital can be a challenging task, with mStable platforms, stable coins expansion is surely on the cards with competition heating up and becoming intense.

We at DeFiRev.com are definitely quite excited to see what mStable has in store for the future and we’re looking forward to watching its journey unfold in real-time.


For more information, you can join the mStable telegram here: t.me/mstableofficial

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Deriswap: What you Need to Know

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Deriswap launched defi legend Andre Cronje – the founder of Yearn Finance

The founder of the revolutionary DeFi protocol Yearn. Finance, Andre Cronje has been an avid crypto promoter. In his attempt to bring products that will redefine the industry, Andre Cronje has introduced a new project.

Dubbed Deriswap, the new protocol will meld the different segments of DeFi including swaps, options, and loans all in one platform. His latest project ‘Deriswap’ is a move towards bringing capital efficiency, something which has not been envisioned in the industry. 

In a post published Cronje said:

“Deriswap allows for a consolidated, capital-efficient market for trading, Options, Futures, and Loans, allowing LPs [liquidity providers] to keep their exposure and enjoy additional fees and rewards,” 

Deriswap information has been restricted to a point because it is still under audit. He has explained that this new protocol would immensely benefit liquidity providers(LPs) in addition to maintaining exposure and extending additional rewards. There are many popular protocols that enable swaps and loans, however, Deriswap varies in its ability to offer multiple functions within one contract. 

Cronje has been around for some time and has already participated in a lot of projects. His other recent projects include Eminence and Keep3r. Eminence garnered the ire of critics as the gaming platform was hacked for $7 million in users’ funds.

But Andre Cronje’s popularity and his intellect with respect to the industry have been always high which is why despite all the earlier troubles people have been funding the contract even before the project has been audited and announced. 

deriswap

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Basis Cash launches a new-age stablecoin in DeFi space

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Basis Cash : What is it?

Basis Cash, originally known as Basecoin, has launched its stable coin into the new DeFi era. Basis Cash is was based (pun-intedned) on a stablecoin basis which had $133 million in funding after which the US regulators intervened.

The smart contracts opened early Monday, but what also has to be remembered is that this is not the first time when any base-inspired stablecoin is released. At the end of August Empty set was released and now has $100million in market cap.

One of two anonymous leaders off the project who goes by ‘Rick Sanchez’ said: 

“In the long term, we look forward to seeing Basis Cash be used widely as a base layer primitive such that there is organic demand for the asset in many DeFi and commercial settings.”

As is the case of most stablecoins. Basis Cash (BAC) stands pegged to the US dollar implying that one BAC should be equal to the crypto equivalent of one USD. The price of one BAC should be equal to the crypto equivalent of one USD.

Two crypto assets Basis Bonds and Basis shares will be managing the Basis Cash’s price.  Beginning at the end of November 50,000 BAC will be given in a 5-year period implying that 10,000 per day to people who would put any of the 5 stablecoins  DAI, YCRV, USDT, SUSD, and USDC in their smart contract. 

basis cash

In this case the depositors would not lose more than 20,000 stablecoins from any single account. In addition to this, an incentive on a daily basis will be paid on a pro-rata basis. The users also will get their coins back at any point in time. 

Basis Cash will have nothing locked away to guarantee its worth. The only thing that backs it will be an algorithmic method which will help in finding the real market demand for BAC.If the BAC drops below a dollar, the system will automatically issue Basis Bonds. The bonds issued can be bought for one BAC and can be redeemed for one new BAC when the price is much more than $1.

Nader Ali-Naji who originally launched Basis said: 

“A lot of people have reached out to me about Basis Cash. It seems to be gaining traction among the people who backed me with Basis given how many people have asked me about it, but I don’t know anyone who’s definitively decided to back the project.”

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Saffron Finance: SFI a new DeFi bluechip? This hidden crypto gem seems primed for massive growth.

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November 10, 2020

Saffron Finance or SFI, is currently one of the hottest defi projects right now that is still very much under the radar. 

Just as we have reported on YFI, CORE, and Curve long before most DeFi news organizations, this is one we’re definitely adding to our watchlist. 

Just like the aforementioned tokens, SFI seems to be in the same league of technical expertise mixed with an extremely creative application, all with code that is completely original. Here’s what you need to know about Saffron Finance.

What is Saffron Finance?

Saffron. Finance is bent towards innovative offerings in the crypto world. It is a protocol meant for the tokenization of on-chain assets. There is an advantage of the format of the tokenization of on-chain assets as it allows the liquidity providers great flexibility and unhindered access to the base collateral leveraging the benefits of staking.

Typically due to the overcrowding of different scenarios, Liquidity providers have to undergo insurmountable impermanent losses as a result of extreme volatility.

Yet, Saffron is one such protocol that narrows down such outcomes and provides liquidity providers with the necessary dynamic exposure. 

Customize your risk

Liquidity providers can now select and customize their risk and return profile with the use of Saffron Pool Tranches. Pools are segregated into different tranches each having their own set of properties. The different tranches here are:

AA Tranche: In this case, the LPs add liquidity to the AA tranche earn less interest but are protected and covered in case of loss from platform risk. The covered capital comes from the principal and interest earnings of A tranche LPs. They have a great share in the SFI token generation grabbing 80% from it all. 

A Tranche: Under this category, LPs add liquidity to the A tranche and earn far better interest compared to the previous, yet vulnerable enough to lose their interest in case they are exposed to platform risks. The liquidity providers under this tranche earn 10% of the SFI tokens generated per epoch. Their earnings will not be included in covering the first loss of AA tranches. 

S Tranche: The S tranche like the A tranche earns 10% of SFI generated per epoch. The S epoch has an underhand mechanism to maintain the exact value of the tranche interest multiplier. It maintains the position of equilibrium between A and AA tranches with its functionality. 

Saffron individually tokenizes the future earning stream and the NPV of the used-up capital in every tranche. The earnings-based on tokenized holdings are distributed across all tranches through payback waterfalls. 

Epochs

The Epochs are discussed in tranches are of 14-days in length. In the epoch period, the liquidity providers can earn interest on the platforms and mine SFI tokens – the native token of Saffron Finance. 

When liquidity gets locked in the pool, they can trade their Saffron LP tokens defining their ownership of the pool. But when the 14-day epoch period ends, the Liquidity providers can remove their liquidity with SFI mined and interest earned. The first epoch was already kicked off on 1 Nov and all the liquidity was added to the S tranche. The other two tranches will be available in the second epoch. 

Liquidity mining

Saffron has been launched with DAI liquidity mining. With this, all DAI will be added to the Saffron pool and is used for compounding and earning interest. The best part about it all is that in the future versions of the protocol additional currencies and platforms will be added dynamically.

SFI is generated at the end of the epoch and is redeemable in proportion to the total outstanding dsec tokens generated during that epoch. They are redeemable in proportion to the total outstanding dsec tokens generated in that epoch. 

saffron finance

Smart Contracts

Saffron smart contracts have already been deployed and their code has been verified on etherscan and already been added to a GitHub repository. The team is still working on code audits but the team’s ongoing development timeline has allowed for it and the entire set of Saffron smart contracts. The Saffron Pool, adapter, strategy, and token contracts have been tested with 10,000 DAI in the best test epoch on the Ethereum mainnet. 

SFI Pools and Adapters

The platform has pools of liquidity that collect deposited base assets from LPs and deploy them on platforms in order to earn interest. Adapters connect this pooled capital to platforms.

The already launched first adapter is DAI/Compound adapter which connects the DAI pool to the Compound platform giving the DAI pool LPs the chance to pool together and earn interest on Compound. This strategy connects all pools and adapters together, selects the best adapter for capital deployment. It also generates and distributes SFI tokens to LPs at the end of every epoch. 

By offering asset collateralization on its platform, liquidity providers have access to dynamic exposure and have a great advantage of selecting customized risk and return profiles. 

saffron finance sfi

Saffron Finance Telegram: https://t.me/saffronfinance
Website: https://saffron.finance
Twitter: twitter.com/saffronfinance_
Saffron Medium: medium.com/saffron-finance


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