This is another example of how to “farm yield” in DeFi by depositing your stablecoins, letting others swap between them in mStable, and earning a % of trade fees on top of accruing interest.
DeFi Dad walks us through the following:
🤓What is utility of mStable and why is mUSD a hedge against stablecoins failing
🤓How to mint mUSD (worth $1 as a basket of stablecoins)
🤓How to SAVE mUSD and earn the mStable native interest rate
🤓How to withdraw mUSD from earning interest + redeem mUSD for stablecoins
🤓The risks of using mStable
To learn more and try mStable yourself, go to: https://mstable.org/
For more Bankless video tutorials, check out: https://www.youtube.com/playlist?list=PLmkdAgtxf3aiduauYPPqUWqpMmAXm2vt5
Video by: @DeFi_Dad
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Disclaimer & Risks: mStable did not pay DeFi Dad to produce this video. This is not financial advice and you should approach all DeFi applications, wallets, and protocols with caution. Please be aware there is always risk in using DeFi, including technical risks (ie smart contracts hacks), financial risks (ie liquidity crises), and potentially admin risk (admin key compromise, governance vulnerabilities). Also, with mStable, you should consider the risk of a stablecoin peg failing and a loss of liquidity in any stablecoin if LPs or traders were to trade/withdraw all of any of the 4 stablecoins. One ideally has to be willing to have exposure to any of the 4 stablecoins in the pool (DAI, USDC, USDT, TUSD).
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