The Meta token lies at the heart of mStable. It is what co-ordinates mStable's governance. Every participant in the mStable protocol has the option of earning the Meta token. MTA is what enables mStable to be a collective, governed by users.
The Meta token is built to coordinate decentralised governance by incentivising stakeholders to act in the best interests of mStable. Meta Governors are responsible for the setting and maintenance of mStable system parameters.
Currently, discussion of governance topics takes place in our discord and forum, with token holders signalling their vote preferences on snapshot. Only changes that have passed through a snapshot vote by Meta Governors can be implemented.
Below are some of the parameters that Meta Governors decide upon enacting:
addition/removal of mAssets;
addition/removal of bAssets and their max weights;
redemption and minting fees;
selection of oracles (if needed).
Robust governance includes a large and decentralised stakeholder-base. A single entity or a small group of closely aligned entities would centralise mStable and potentially create a dangerous single point of failure. It is a core project aim to ensure a broad Meta distribution.
The mStable Public Rewards, Staking, Grants Program are our first steps in this direction.