InsurAce is proud to announce the latest in a series of great partnership announcements; mStable. mStable combines lending income with trading fees to produce higher-yielding assets.
mStable is an autonomous and non-custodial infrastructure for pegged-value crypto assets built on Ethereum and Polygon. mStable is a protocol that unites stablecoins, lending and swapping into one robust and easy to use standard. Specifically, mStable is: A permissionless protocol for unifying, securing and governing tokenised assets. An SDK for DApps and exchanges to simplify and expand stablecoin user experience.
mStable was begun in Melbourne, Australia, in late 2018. It was initially designed to address the fragmentation of stablecoin markets and the challenges to adoption and use that arose from this.
The project raised initial funding and began the development in 2019 with the MVP being completed. In May this year, mStable launched its first product, the mUSD stablecoin with a native interest rate, alongside a zero slippage swap product. These are available as the SAVE and SWAP products respectively. This was followed up by the launch of a governance token, MTA, in July, and a corresponding yield farming dashboard product called EARN. mStable is now in the process of decentralising its operations to create a robust community of incentivised and competent governors to guide the platform through its next phase of growth.
Users will now be able to insure their mAssets through the InsurAce dApp against smart contract risks, hacks and bugs.
InsurAce will also create a pool to accept mUSD as a staking asset, which will expand the use cases for mUSD.
And users of mStable will have a premium discount of 20% if purchased in the next 90 days (Until 15th September 2021).
In the future, InsurAce can allocate part of the free capital in its insurance capital pool as well as treasury (earned from premium and other fees) to mStable’s “SAVE” and “POOL” modules to generate yields for users, which also grows mStable’s business. This will form a part of InsurAce’s upcoming investment pools.
“Protected stablecoins pave the way for the future adoption of DeFi, Crypto and Blockchain. mStable permits users to mint stable mAssets in a non-custodial manner, keeping users’ assets in the hands of the users, fully backed by existing tokenised assets. By providing insurance to protocols like mStable, InsurAce helps to provide peace-of-mind to mStable users looking for assets you can trust.” Oliver Xie, founder of InsurAce.
“We are always looking out for our users to offer better yielding products with a relentless focus on safety and security. The InsurAce and mStable partnership strengthens this value proposition and offers our users and depositors a peace of mind when interacting with mStable’s smart contracts.” James Simpson, Co-Founder mStable
InsurAce has seen rapid development in recent months and it is through continued partnerships like this one with mStable that we continue to grow. Protocols can request to be listed with InsurAce by clicking here.
mStable is an autonomous and non-custodial infrastructure for pegged-value crypto assets.
It is built on Ethereum and Polygon. mStable assets (mAssets) are built to an autonomous and non-custodial pegged asset layer for Decentralised Finance (DeFi).
mStable was created to address three major problems that confront pegged crypto asset users:
- significant fragmentation in same-peg crypto assets (there are currently over 5 major USD pegged crypto assets on Ethereum for example)
- lack of yield in fiat currencies and pegged crypto assets
- lack of protection against permanent capital loss in pegged crypto assets
mAssets represent some underlying value peg and are minted/redeemed on-chain via smart contracts.
A user minting an mAsset interacts only with the mStable contracts, which are non-custodial. This means that no third party ever takes custody of a user’s assets. In other words, mStable is a “peer to pool” protocol, where the pool “lives” in a non-custodial smart contract.
mAssets are fully backed by a basket of existing tokenised same-base assets (hereafter bAssets).
Each mAsset represents a share of liquidity in that mAsset’s pool as well as a pegged crypto asset in its own right. A mAsset can be used as a medium of exchange, unit of account and store of value.
Each mAsset should produce an outsized native interest rate (although this of course is never guaranteed). This rate is derived from the mStable contracts autonomously and programatically lending bAssets to third party lending protocols, generating interest income. The mStable contracts simultaneously allow for bAssets to be exchanged or “swapped” for a fee. All interest and exchange income is automatically and programmatically sent to mAsset savers.
The mStable protocol is governed by Meta (
MTA) Governors. Those who have the
MTA token can stake (i.e. deposit in a governance smart contract) their tokens to become protocol governors, allowing them to govern the mStable protocol.
Every participant who interacts with mStable has the option to earn
MTA, either through contributing to its utility (through Earn) or by saving a mAsset (through Save).
MTA is emitted in this way to facilitate decentralised, collective and user-driven governance.
Non-custodial — mStable users always have custody of their funds.
Robust — Collateral is diversified across multiple pegged crypto assets.
Stable — mAsset are pegged crypto assets in their own right.
MTA governs mStable. Every user can earn
MTA and participate in mStable\’s collective governance.
mAssets should earn an outsized yield (derived from interest income + swap fees + other income). See Save.
Traders & Arbitrageurs
Arbitrage opportunities exist using mStable’s swap. See Swap.
Traders can swap pegged crypto assets efficiently using Swap.
Security-conscious pegged crypto-asset users
mStable issues assets that are designed to be more secure than the sum of their parts. Each mAsset diversifies risk between different asset issuers and stability mechanisms, and caps exposure to any one asset.
InsurAce Protocol is a DeFi Insurance protocol that has quickly become the second-largest protocol in DeFi insurance. At the time of writing, the protocol has a $40 million market cap based on a circulating supply of 11 million INSUR tokens. There is a maximum release of 100 million INSUR Tokens which can be mined through staking on the protocol.
InsurAce is a new decentralized insurance protocol, to empower the risk protection infrastructure for the DeFi community. InsurAce offers portfolio-based insurance products with optimized pricing models to substantially lower the cost; launches insurance investment functions with SCR mining programs to create sustainable returns for the participants, and provide coverage for cross-chain DeFi projects to benefit the whole ecosystem.
InsurAce is backed by DeFiance Capital, Parafi Capital, Hashkey group, Huobi DeFiLabs, Hashed, IOSG, Signum Capital and a dozen of other top funds. In the three months since its first testnest was released, several high profile partnerships have been established. Information to be released in separate releases.
The project lead for InsurAce is Oliver Xie. Oliver started to work on InsurAce project since September 2020, and prior to that he entered the crypto space back in 2017 where he led a team to research crypto derivatives and blockchain technology and has gravitated towards blockchain-based Open Finance for the past few years. He identified an opportunity for a unique approach to providing insurance for DeFi smart contracts and users, and InsurAce was created.
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