MTA Staking

mStable is controlled not by a single entity but by a decentralised community. Staking MTA is the first step required to participate in mStable's governance.

Staking MTA is the first step required to participate in mStable's governance.

Staking V1

This is the current implementation of MTA staking, and went live at the end of September 2020.

Once a Meta holder locks their tokens in the staking contract and begins voting on proposals they become a Governor. Staking V1 has the following characteristics:

  • Longer staking lockups result in higher staking returns (in MTA) and higher voting weights (i.e. the longer you stake, the more skin in the game you have. Because of this, the longer you stake, the more power the user has over the vote)

  • Staking MTA does not expose the staker to loss in the event of a bAsset losing its peg

  • Stakers will need to manually migrate over to the V2 contract when it goes live (assuming v2 is approved by these same governors)

Meta Governors are able to stake their tokens and participate in on chain voting via snapshot with staked their Meta. Stakers can lock up their tokens for a period of time that ranges from 1 week from lockup to the end of September 2021. By this time, Staking V2 is expected to have been implemented with MTA staking migrated over to the new contracts.

A screenshot from the mStable snapshot page in November with live proposals

Characteristics

  • Meta holders must stake MTA in the staking contract to participate in voting via snapshot with staked their Meta

  • Must stake for a minimum of one week or a maximum of one year (at launch)

  • In return for staking, users will receive MTA rewards and vMTA, which represents their voting weight for proposals.

  • Longer staking lockups result in higher staking returns (in MTA) and higher voting weights

  • Staking MTA does not expose the staker to loss in the event of a bAsset losing its peg

  • Stakers will need to manually migrate over to the V2 contract when it goes live (assuming V2 is approved by these same governors)

Benefits of staking MTA

  • Applied boosts to yields on mStable app including Save and Pools

  • Earn a pro-rata share of monthly staking rewards

  • Participate in decentralized governance with rights to vote

More information about Staking V1 can be found here and here.

Staking V2 will be launched between Q3 to Q4 2021 - stay tuned.