InsurAce announces partnership with mStable
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.
“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.
About mStable?
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).
About InsurAce
InsurAce Protocol is a Singapore based 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.
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