mStable Vault Unaffected by USR Depeg, Oracle Security Features Protect Users
mStable Vault Unaffected by USR Depeg, Oracle Security Features Protect Users
🛡️ Vault survives depeg
mStable's vault has remained stable despite the recent USR depeg event, continuing normal operations and earnings.
Key Security Features:
- No hardcoded stablecoin prices
- Multiple oracle pricing systems (both onchain and offchain)
- Built-in deviation checks for price accuracy
The platform's security infrastructure, implemented through dHedge contracts, has proven effective in protecting user assets during market volatility. All vault operations continue without interruption.
Our vault is completely unaffected by the USR depeg and continues to earn as usual. mStable vaults don't hardcode stablecoin prices and implement multiple oracle pricing security features including both onchain & offchain oracles with deviation checks. The security record
a semi-comprehensive list of every vault/protocol hit by the @ResolvLabs exploit morpho vaults: - Gauntlet USDC Core - Gauntlet USDC Frontier - Resolv USDC - 9Summits USDC - Extrafi XLend USDC - Re7 USDC - Seamless USDC - Apostro Resolv USDC - August AUSD - Clearstar Yield USDC
mStable Launches mPT-sUSDe: Multi-Protocol Yield Strategy Combining Ethena, Pendle, and Aave
**mStable has launched mPT-sUSDe**, a new yield product that combines multiple DeFi protocols to create leveraged fixed APY returns. **The strategy works in three layers:** - Foundation: Uses Ethena's **sUSDe** (staked USDe) as the base yield-bearing asset - Fixed APY: Leverages **Pendle's principal tokens** to convert variable yields into fixed returns - Amplification: Utilizes **Aave's money markets** to add leverage and multiply the fixed APY **How it works:** - USDe is backed by crypto assets and hedged with derivatives - sUSDe provides the staked version with native yield - Pendle splits sUSDe into yield tokens (YT) and principal tokens (PT) - PT tokens start at a discount and mature to $1, creating fixed APY - Aave's deep Ethereum liquidity enables mStable to manage leverage efficiently The product is **now live** and available for deposits at mstable.com, targeting users seeking predictable, amplified yields through this multi-protocol approach.
Derive Protocol Acquisition by Synthetix Raises Community Concerns
The acquisition of Derive Protocol by Synthetix has sparked controversy due to its lack of transparency and community involvement. Drawing parallels with mStable's previous acquisition by dHedge, critics highlight how mStable handled their transition with full community participation and transparency. Key differences in approach: - mStable announced financial challenges early - Explored multiple acquisition offers openly - Gave token holders voting rights - Founders abstained from voting The situation raises important questions about DeFi governance and token holder rights. Two proposed solutions for Derive: 1. Sunset protocol and distribute treasury 2. Open acquisition talks to multiple parties with community input *This case highlights the growing tension between centralized decision-making and DeFi's core values of transparency and community governance.*
mUSD Deprecation Announcement
mUSD and imUSD are entering deprecation phase with immediate effect. Key changes: - New minting of mUSD and imUSD tokens is now disabled - Existing holders can claim their underlying assets - Legacy support application will be updated to facilitate withdrawals This follows similar deprecation patterns seen in the ecosystem, such as the recent rUSD platform shutdown. Users should take action to withdraw their assets through the updated legacy support interface.
On-Chain Basis Trading Evolves with New Token Options
On-chain basis trading is evolving through individual tokens, offering alternatives to traditional approaches. Two notable examples: - **Ethena's USDe**: A centralized but popular implementation - **0xflatmoney's UNIT**: An emerging decentralized alternative These tokens simplify delta-neutral basis trading into a straightforward token purchase, while maintaining high yield potential. The key innovation is the removal of centralization barriers while preserving the benefits of perpetual basis trading. *Key benefit*: Simplified access to basis trading strategies through single token exposure.