The First Yield-Bearing Stablecoin on Arbitrum (Avg. APY: 20% +)
How does META work?
Deposit
Deposit GLP as collateral
Mint mUSD
Mint / Borrow mUSD at Zero Interest
Get paid to borrow
Earn Avg. 20% + APY
Benefits of holding mUSD
Yield Bearing Token
Zero Mint or Borrow Cost
Fully Decentralised
Overcollateralised (Stable & Safe)
Meta DAO
Meta DAO serves as the backbone of Meta Finance's decision-making process.
The Meta DAO will be governed by META token holders who will have the power to influence the direction of the project, propose and vote on various decisions, and collectively manage the protocol.
This community-driven approach helps ensure that the Meta Finance project remains true to its decentralized nature and that its development is in line with the interests of its users.
FAQs
What is Meta Finance?
Meta Finance is a decentralized protocol dedicated to bringing stability to the cryptocurrency economy, allowing users to mint mUSD, an interest-bearing stablecoin using GLP as collateral.
What is the motivation behind Meta?
Meta Protocol aims to provide a secure, safe, and fully decentralized interest-bearing stablecoin that is not under any government's authority while benefiting GLP holders of all sizes.
Why have you chosen GLP as collateral?
GLP has several advantages over LSD tokens:
Price Stability: Since GLP is an index token, GLP price is more stable than ETH
High Yield: GLP has historically given average APR of ~27% compared to ~4% of stETH
High TVL: GLP has $500 Mn+ TVL, which is higher than many LSD tokens like stMatic, fraxETH etc.
What are mUSD and META?
mUSD is an interest-bearing stablecoin hard-pegged to the US dollar, using GLP as collateral with minimum collateral ratio of 160% to maintain safety and decentralization. mUSD generates stable interest powered by GLP.
META is the native token of META Protocol. META Protocol is managed by people worldwide who hold META governance and utility tokens.
How can mUSD stability be ensured?
mUSD stability is maintained through a combination of overcollateralization, liquidation mechanisms, and arbitrage opportunities. These factors work together to ensure that the value of mUSD remains close to its 1 USD peg.
mUSD holders receive stable interest with a base APY of 20%+ (generated by generous GLP yield).
Zero loan interest - There's no borrowing interest when minting (borrowing) mUSD, allowing users to go leveraged long on GLP tokens with zero loan cost.
Governable - Meta Finance's contract are behind multi-sig and can only be updated via Governance. Redemption Fee, Keeper Reward, and META shared revenue can be modified according to the MetaDAO community, which does not affect Meta Vaults' security.
Does Meta charge any fees?
There are no borrow fees or interest on Meta Protocol.
How can I earn money using Meta?
There are four different ways to generate revenue using Meta Finance:
Provide mUSD/2Pool liquidity on Curve Finance (Arbitrum) to earn META.
Hold META to share Meta Protocol revenue.
Become redemption provider to earn provider rewards.
Become a Liquidator or Liquidation Keeper to earn liquidation rewards.
Is GLP the only collateral accepted by Meta Finance?
Yes, GLP is the only collateral types accepted by Meta to mint mUSD while maintaining safety and decentralization.
Can I withdraw my deposited GLP whenever I want?
As a general rule, you can withdraw your deposit at any time. There is no minimum lockup duration.
I'm a holder of USDT, USDC, FRAX, and/or other stablecoins; how can I get stable interest with Meta?
It's easy! Swap your held assets to mUSD through any DEX (such as Curve Finance). As long as you're holding mUSD, stable interest is calculated and distributed by Meta Protocol.