Proposal: Add MTA as collateral asset on Cream Polygon

Summary

  • mStable is a protocol that unites stablecoins, lending and swapping into one robust and easy to use standard. Meta (MTA) is the governance token of the mStable ecosystem that governs the mStable protocol.
  • mStable deployed on Polygon and launched liquidity mining program of MTA on Polygon with 20% of top-line emissions going as incentives on Polygon
  • mStable has a built-in AMM with the lowest swap fees (0.02%), one of the highest yielding passive savings account in DeFi and produces meta-assets which are composable, diversified and risk-minimized assets in their own right
  • MTA is already listed on Cream (Ethereum Mainnet) and this proposal is to list the collateral on its Polygon markets
  • More than 8m of MTA has been distributed cumulatively to liquidity providers, Save depositors and Stakers across its ecosystem

Asset Details:

Why Cream?

  • mStable is extended its stablecoin ecosystem multi-chain and Cream is an ideal partner to support MTA lending and borrowing as it continues to expand
  • As the first decentralised lending market to support MTA on Polygon, Cream stands to benefit from increased TVL and generate increased usage on its platform
  • mStable has been a long-time partner with Cream and has deployed >US$7m idle mUSD on Ethereum mainnet to Cream’s Iron Bank to support protocol-to-protocol lending

Action Item:

  • For: Add MTA to C.R.E.A.M. on Polygon
  • Against: No Nothing

Hello C.R.E.A.M. community. As a fellow member of the mStable team we are here to answer any questions you may have about this or the mUSD collateral on Polygon forum items.

We’ve enjoyed collaborating so far as projects, and hope that we can continue to do so on Polygon! :slight_smile: