2.66 million mStable token Mtas will be auctioned on Mesa to ensure fairness

MStable officially announced that, in order to prevent robots from participating and affecting the interests of MTA holders, the token will be distributed in two stages.

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In the first phase, the MTA will be auctioned on Mesa, a platform built on the Gnosis protocol.

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- 2.66 million Mtas will be sold in this phase;

- The auction will continue for 24 hours or until the MTA allocation is completed;

- If the demand is too high, the auction may close in 5-30 minutes, so bids can be made before the auction;

- now you can bid on Mesa (need to mUSD tokens, address: 0 xe2f2a5c287993345a840db3b0845fbc70f5935a5 and

The MTA tokens, address: 0 xa3bed4e1c75d00fa6f4e5e6922db7261b5e9acd2 copy and paste to the user interface, then you can bid on a Mesa). If you wait until 20:00 On July 17, Beijing time, mUSD/MTA will appear directly in the Mesa user interface (no need to copy and paste this step);

- The sell order will be activated at 22:00 On July 18, Beijing time, which means that the auction begins and all users' bids will be matched with the sell order;

- The proceeds from this auction belong to mStable Aragon DAO, and will be extracted only when the protocol reaches an adequate level of governance decentralization. Detailed instructions on the mStable governance roadmap and structure will be released in the coming weeks and months.

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Second, as soon as the MTA market price is determined, the mStable team will create and inject incentive mUSD/MTA pool in Balancer.

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- MTA auction price will be used to determine the MTA starting price of Balancer pool;

- If a Mesa auction has a residual MTA, the remaining MTA and the previously allocated MTA (with a maximum initial liquidity of 500,000 MTA) will be used as the initial funds of the incentive pool;

- Balancer MTA/mUSD pool is getting its own MTA reward pool for the next two weeks, totaling 125,000 Mtas. Of these, 75,000 mtas will be allocated in the week beginning July 19 and 50,000 in the week beginning July 26.

- Users who purchase MTA can immediately contribute MTA to the MTA pool and receive rewards;

- Due to the nature of the auction, the existing MTA ecosystem reward commitment (from the existing mUSD/USDC and mUSD/WETH pool commitments) will be paid when the auction is over and the pool is funded. They will be realized within 24 hours of the MTA's creation activity and balancing pool line.This means that no MTA is in circulation before the sale begins.

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Text link:https://medium.com

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