Meta USD
METASTABLE is a decentralized vault system deployed on the Sui network. The protocol allows users to deposit supported assets, whether bridged-in assets or native assets, and mint stablecoins pegged to US USD pegged stablecoins Meta USD. Users can use Meta in automated market makers, lending platforms, and other protocols USD, while earning Meta points, which may potentially be converted into token rewards distributed through an airdrop. The vault also supports lending out deposited assets to improve yield and capital efficiency. Unlike strict 1-to-1 minting models,METASTABLE relies on oracle-based exchange rates, such as the Pyth price feed, to determine the exchange rate between deposited assets and Meta USD corresponding approach, which is prone to slippage. Although AMM currently focuses on stablecoins pegged to METASTABLE currently focuses on being pegged to USD Meta, its architecture is modular, so the protocol can be expanded by adding new meta-coins. Conceivably, in the future METASTABLE could support the creation of other meta-coins, such as Meta Bitcoin or Meta Ether.
Overview
METASTABLE is a decentralized vault system deployed on the Sui network. The protocol allows users to deposit supported assets, whether bridged-in assets or native assets, and mint stablecoins pegged to US USD pegged stablecoins Meta USD. Users can use Meta in automated market makers, lending platforms, and other protocols USD, while earning Meta points, which may potentially be converted into token rewards distributed through an airdrop. The vault also supports lending out deposited assets to improve yield and capital efficiency. Unlike strict 1-to-1 minting models,METASTABLE relies on oracle-based exchange rates, such as the Pyth price feed, to determine the exchange rate between deposited assets and Meta USD corresponding approach, which is prone to slippage. Although AMM currently focuses on stablecoins pegged to METASTABLE currently focuses on being pegged to USD Meta, its architecture is modular, so the protocol can be expanded by adding new meta-coins. Conceivably, in the future METASTABLE could support the creation of other meta-coins, such as Meta Bitcoin or Meta Ether.