About mStableCash Protocol
After the madness of 2020, let’s take a moment to look back at history so we can be more sure of the direction of our future efforts.
Initially, Satoshi Nakamoto invented Bitcoin, creating a decentralized digital currency. In the early days, Bitcoin (BTC) was indeed the ‘decentralized digital currency’. But BTC wasn’t exactly the ideal currency. Its reputation for high volatility, combined with a 10-minute block generation interval and hour-long confirmation time, made it an undesirable medium of exchange.
In my opinion, We will enter the stage of stablecoins: decentralized crypto-dollars, i.e. algorithmic stablecoins, which do not require the use of collateral and regulate the money supply mainly through algorithms and mechanisms. The main representatives are ESD, BASIS, FRAX, etc. These algorithmic stablecoins are based on the design of Basecoin, and combine the experience of liquidity mining and elastic stablecoins, thus making them a great success.
mStableCash will use the Basis project as a base and combine it with the ESD project to design a better algorithmic stablecoin protocol as possible！
mStableCash is designed with 3 types of tokens, MTC, MTS, MTB.
MTC is a stablecoin that is pegged at 1USD
MTS is the governance token that accrues value as the protocol is adopted
MTB works to maintain MTC to $1 peg
For mStableCash, token distribution is based on a model that is transparent and autonomous. There are zero tokens pre-allocated to the team and external investors; hence, there are no presales, private sales or public funding. Instead, it is designed to reward those that contribute to the protocol. MTC is distributed to those that provide liquidity to the different pools.
The 70,000 MTC will be distributed equally to the following 7 pools in the genesis phase. Stablecoin deposits limited to 20,000 for its own pool per wallet for each pool.
Remark: Since ESDS are non-transferable, the Special Token Pool will be closed and the ownership will be transferred to the black hole address.
The 1,000,000 MTS will be distributed to those that provide liquidity to the MTC-USDC & MTS-USDC Uniswap v2 pair, where users can deposit LP tokens to the distribution contract and earn MTS.
mStbaleCash is a fully transparent community-run project. For the sustainability of the project, we will create two separate funds that will only be generated as tokens are mined.
Project Treasury (5%)- This will be used for advertising, marketing, exchange listings, partnerships, grants, bounties and cooperate with other projects.
Team fund (3%)- motivate developers and subsequent staff expansion.
The above two funds will be managed in a multi-sign contract and will be managed by community voted and elected personnel.
we shortened the cycle to once every 8 hours for each epoch. We believe that appropriately increasing the iterations of the cycle is more beneficial to the stability of MTC.
For the design of Boardroom, we lock the MTS of take for 24 hours and the MTC rewards can be withdrawn at any time.
How You Can Participate
mStableCash will be lunched at the following times:
Farm: 2021–01–08 23:00:00 UTC
Bond: 2021–01–13 00:00:00 UTC
Boardroom: 2021–01–18 00:00:00 UTC