This walk-through will show you
How to get Ropsten ETH so you can transact on Ropsten
How to use the Aave Faucet to get USDT
How to interact with the mStable dApp to get to know the protocol
You can read more about mStable in the Getting Started Section
mStable is deployed on Ropsten and using Ropsten is recommended for experimenting with the protocol.
It is recommended that you have MetaMask setup with some test Ethereum accounts.
You can request Ropsten ETH from the MetaMask Faucet. If you are using MetaMask ensure that you have selected the Ropsten network.
After a while you should the transaction will be confirmed and you will see that you have some ETH.
To interact with mStable you will need one or more of the following Stablecoins.
The mStable protocol on Ropsten uses the following stablecoins.
0xb5e5d0f8c0cba267cd3d7035d6adc8eba7df7cdd (Old Compound)
0x8a9447df1fb47209d36204e6d56767a33bf20f9f (Old Compound)
0xa2ea00df6d8594dbc76b79befe22db9043b8896f (Current Aave)
0xB404c51BBC10dcBE948077F18a4B8E553D160084 (Current Aave)
TUSD/USDT can be obtained from the Aave Faucet (pro tip: you can change the data sent in the faucet function to mint more than the default amount). Compounds Faucet is a bit tricky, which is why an old deployment is used that had sufficient liquidity. If you wish to get DAI/USDC it would be better to first use the Aave faucet, or request
mUSD from the mStable team via Discord.
The Tether faucet is known to work so this is recommended. Request some USDT so that you can use the mStable protocol.
First let's introduce the mStable protocol using the mStable dApp on Ropsten.
After reading this section you will have a good idea of the protocol, how you can use your stablecoins and what you might build on mStable.
You can mint mUSD using DAI, USDC, USDT and TUSDT. Using the test USDT that you got from the Aave Faucet let's mint some mUSD.
First approve your USDT for spending and then mint. After minting you'll have the equivalent amount of mUSD.
mUSD is an ERC-20 token and intended to be a composable base layer for DeFi applications.
SAVE offers a native stablecoin interest rate for mUSD. You can earn interest on your mUSD by depositing it into SAVE. The mStable protocol generates yield through swap fees and depositing stablecoins with lending markets.
After minting mUSD, deposit it into SAVE.
SWAP offers a market for stablecoin swaps. Arbitrage traders can profit from stablecoins being slightly under or over peg and this promotes a stablecoin returning to peg. The swap fees from this market also generates yield for SAVE depositors.
REDEEM allows underlying stablecoins to be redeemed from mUSD. You can choose to redeem in any of the stablecoins in the basket or a mix of all of them.
Now you have a good idea of the protocol and how to use the mStable dApp on Ropsten dive into the Developers section to understand how you can build applications on top of the protocol using the smart contract interfaces.