Key Points
- Released Staking V2
- TVL almost reached 200 million USD
- Launched Metanaut factions and a project bounty list
- Nick’s tweet storm on SAVE outperforming the rest of DeFi for passive yields
- Community call with Gelt - a startup building on top of mStable
- Released our Q3 Treasury Report
- Researching and working on mStable v2
- Unveiled our Q4 roadmap
- and much more 👇
Gm mStable community 🌞
Welcome to our new mStable Newsletter - a monthly newsletter to give you more visibility and insight into what’s been going on behind the scenes at mStable. Our goal is to provide updates on what’s brewing in our different departments, as well as show recognition to all of our Metanaut contributors. It has been an exciting month for mStable and the team, so let’s jump in!
🧮 Staking v2 launched!
With almost 6.9m MTA locked in the staking v2 contract, staking v2 has been a big leap forward for us. It simplifies MTA staking and voting, enables voter delegation, and pioneers a new gamified version of governance with on-chain quests that stakers can accomplish to earn increased voting power along with other rewards. Staking v2 also opens up the opportunity for new products and potential moving forward, including our Emission Controller which we plan to release very soon.
📈 TVL almost reached 200 million USD
The core team saw an opportunity and took advantage of Curve's gauge mechanism - ‘bribing’ veCRV/cvxCRV voters to vote for an mUSD/3CRV gauge. Along with cutting MTA emission rewards by 20% and releasing our initial proposal for a new Emissions Controller, this led us all the way up to almost 200m in TVL for the first time in mStable history.
🌊 Betting on Feeder Pools to expand our ecosystem
Feeder pools are two-sided liquidity pools that provide efficient bridges within and outside of our ecosystem. Additionally, they provide new opportunities for liquidity providers to earn MTA rewards and trading fees.
In the last month, we've added two new stablecoin protocols to our ecosystem - introducing partnerships with Reflexer Labs (RAI/ mUSD) and Threshold Network (tBTC /mBTC). The RAI feeder pool is nearly ready to go and launching in the next couple of weeks. Additionally, we hosted AMAs with both of them leading up to their proposals, which you can find on Youtube.
🧑🚀 The rise of the Metanauts, mFactions and POAPs
October has been packed full of even more exciting community updates. We've hosted multiple AMA's with projects including Threshold Network and Reflexer Labs, a Metanaut Spotlight call with Oli J, and interviewed Jeremiah from Gelt for a very special community call to explore how they leverage mStable to bring high-yield DeFi savings closer to the mainstream.
On top of this, we’ve launched several Metanaut initiatives including mFactions and a project bounty list to better organize ourselves as decentralized contributors. These initiatives aim to bring more clarity to the kind of projects we need help with and are working on - meanwhile getting incentivized and rewarded all through Coordinape. If you are interested in contributing and becoming a Metanaut, please apply here!
We’ve also had fun developing our own custom gmBot for Discord to allow our community to start gm-streaks and go on gm-adventures to earn POAPs and other rewards. It seems to be our most popular discord channel now 😁. We’ve also used gmBot to develop our own custom way to deliver and claim POAPs, while preventing sybil attacks and farming of our NFTs. Lastly, we dropped an exclusive mStable Staking V2 NFT, and we only have 7 left to giveaway. Head over to Discord and let us know if you are interested in winning one of our NFTs.
🍩 mStableDAO becomes TreasuryDAO
The mStableDAO successfully completed its rebranding to the TreasuryDAO which will pave the wave for the next iteration and future of mStable. Additionally, we released our Treasury Report for this quarter which shows, among a lot of other insights, that 90% of revenues have gone directly back to users of the protocol. Lastly, the Asset Management subDAO has deployed almost $1M worth of capital, and its performance can be tracked in realtime via Zapper.
🏄♀️ Q4 roadmap and mStable v2
Following a successful offsite in Portugal, we are excited to share our Q4 roadmap which sheds light some of the upgrades that you can look forward to in the short and medium term. Featuring: a new Emission Controller to direct MTA incentives, more quests and gamification of the mStable ecosystem, further integration of Save into DeFi - becoming the Stripe of DeFi, and permissionless factory feeder pools.
This is also coupled with a lot of research, ideation, and development of mStable v2, which will be a significant and positive upgrade to mStable, with more details to come very soon™️.
👋 Closing thoughts from the core team
Our growth has been explosive, our TVL is at an all time high, our Save APY is leading all of DeFi, and the core team has grown and is at full capacity shipping and researching for mStable v2. To keep the conversation going, join us on Discord!