mUSD

mUSD is a decentralized stablecoin developed on the Sui network, part of the METASTABLE protocol. This innovative system allows users to deposit various supported assets, whether bridged or native, and mint mUSD, which is pegged to the US dollar. Users can leverage mUSD across automated market makers (AMMs), lending platforms, and other decentralized finance (DeFi) protocols. Additionally, by engaging with the platform, users can earn mPOINTS, which may lead to future token rewards through airdrops. The METASTABLE protocol employs oracle-based exchange rates, such as those provided by Pyth price feeds, to govern the conversion between deposited assets and mUSD. This approach allows the protocol to adapt to multiple price sources and efficiently manage a diverse range of assets. The use of precise on-chain exchange rates facilitates slippage-free transactions, enhancing the trading experience compared to traditional AMM models. Currently, the primary focus of METASTABLE is on USD-pegged stablecoins, but its modular design opens the door for future expansions. This flexibility positions the protocol to potentially support the creation of additional stablecoins, such as mBTC or mETH, in the future. Overall, mUSD serves as a versatile financial instrument within the DeFi ecosystem, offering users stability and utility while participating in a wide array of decentralized applications. Its innovative approach to asset management and trading makes it a valuable addition to the Sui network.