mStable Launches New, Composable Version of mUSD Save
By Derek E. Silva
Since launch in July 2020, mUSD Save has been one of the easiest to use, secure, low volatility and high-yielding savings products in DeFi.
mStable solves for a low-interest rate world by creating a unique automated market maker that autonomously lends out all deposited USD stablecoins onto third-party lending protocols while simultaneously allowing for these same stablecoins to be swapped, earning trading fees. This AMM produces meta-stablecoins instead of LP tokens: this has several consequences, one of which is that we can create a separate savings account to which system revenue is sent.
Today, the mStable genesis team releases mUSD Save V2 — a tokenised savings account, for anyone, anywhere. This release was first proposed by Richard Galvin of DACM here and then ratified by Meta Governors here .
Get started:
- If you are an existing Save user, please note that funds must be manually migrated from Save v1 to Save v2.
- How to Migrate from Save v1 to Save v2 can be accessed here .
- Audit report by Certik here .
- Take me to the app . A migration assistant has been created provided.
Get all the details here !