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How to participate in mStable fluid mining in four simple steps

Read this article in 15 Minutes

Four steps to mStable mining.

Original author: Bear exchange

Although today mStable officially announced that the launch of the governance token MTA will be delayed by up to a week after negotiations between the team and the community, the enthusiasm for liquidity mining remains. DeFi Fire, Hot wheels, "One dig, two Gains" and the star project mStable (MTA) token, which claims to be over 50% annualized, are also coming soon. For many users, how to participate in the flow of mining is not a small problem, so this article will describe in detail how to participate in mStable mining. Since the DeFi market has been so hot lately, I'd like to start this article by reminding investors that the cryptocurrency market is still a work in progress, that security is not fully guaranteed, and that you need to sort out the information to prevent asset losses.

This article does not constitute any investment advice and is only for readers to exchange and learn. There are still risks in the cryptographic market, so please be careful and pay attention to the loss of assets.

MStable is what?

MStable, stable coin + storage + exchange agreement.

In short, you can use U or DAI to stabilize B ; Exchange it for m.U. D (hereinafter referred to as mU); I can save mU, 25% a year; Finally, the stabilizers are convertible into each other. The mStable is MakerDao, mU is DAI, and MTA is MKR, but DAI's collateral is aitai, and mU's collateral is stability.

MU is a product of mStable, while MTA is a platform B of mStable. MTA has three functions:

First, as a guarantee of mU, in extreme cases, sell MTA to pay, referring to MKR in 312;

Second, vote and govern;

Third, inspire communities.

How to mine?

Each of the following steps is requiredThe purse to confirm, space is limited, the confirmation process is omitted below.

Wallet tip example.

(1) Mining

Here's the simplest approach, using the Zapper management tool

The first step, connect, is suggested to use MetaMask

Second, search mU and prepare to add liquidity

In the third step, add liquidity, with WETH/mU as an example

Fourth, check your pool on the DashBoard page

That's it. Isn't that easy? After we dig the mines, we can also store the tokens we dig up to earn interest.

How to deposit money to earn interest

& have spent

First, open and connect

Step two, exchange

The third step is approval

Step 4: Deposit

Step 5: Check

Despite the recent popularity of Defi, the author also offers his own analysis of mStable's prospects:

First, it is not a mainstream application and lacks the support of upstream companies. What mStable wants to do is to coin and exchange stable COINS. The vision is very good: now there are too many stable COINS, we should change them to mU to make it convenient for everyone. But the fact is that currently The Defi Stabilisation currency circuit leader DAI has been doing it for so long that few people use it. Can you think of a major trading platform that treats DAI as its main trading partner?

The most suitable to do stable currency, is similar to taobao this flow top flow. For example, the USDT that is used most now is made by Bitfinex, the current USDC, which is made by CoinBase.

Second, competition is fierce. The competition comes from two aspects, not only Defi stable currency track, such as MakerDao, dForce... There are also competition from centralized trading platforms, such as BUSD, the stable currency of Coinbase, HUSB, OKEx, Coinbase and so on.

Third, fewer users.Maker Locked 630 million; Under the premise of starting the mining activity and the expected MTA launch, the mStable Locked 22.1 million U, 30 times of the gap.