Introduction
Overview of mStable, its mission, and the ecosystem it builds on.
What is mStable?
mStable is a protocol that delivers simple, tokenized yield products built on top of leading DeFi primitives. The goal is to make advanced strategies like Pendle PTs and Aave looping accessible through single ERC20 tokens that compound value automatically.
Mission
Abstract away DeFi complexity into easy-to-hold tokens.
Provide stablecoin holders with enhanced yield.
Build on proven, liquid systems: Ethena, Pendle, Aave, dHEDGE.
Enable scalability for everyday DeFi users both large and small.
How It Works
Base assets: Credible stablecoins like Ethena’s sUSDe.
Yield layer: Pendle Principal Tokens (PTs), which lock in fixed yield until expiry.
Amplification: Aave looping, increasing exposure via deposit → borrow → redeposit cycles.
Automation: Bots handle rollovers, rebalancing, and health factor management.
Output: ERC20 tokens that appreciate in value over time (first flagship: mPT-sUSDe).
Quick Start
Page description: How to get started with mStable tokens in three simple steps.
Using mStable in 3 Steps
Acquire the token
Buy mPT-USDe via the mStable app or on a supported DEX.
Hold
The token represents a position in the strategy.
No manual management required.
Compound automatically
Behind the scenes:
sUSDe → PT sUSDe → Aave looping.
At expiry, PTs roll into the next series.
The token’s value increases as yields are realized.
Flow Diagram (for later visual)
Ethena sUSDe → Pendle PT sUSDe → Aave looping → mPT-sUSDe appreciation
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