mStable Seeks Acquisition or Merger amid Product Revenue Decline

03/11/2023 18:08 • Blockchain Briefs • 102 views

It is reported that 0xloth, the anonymous strategic director of stable currency aggregation agreement mStable, said that due to the decline of product revenue and the withdrawal of major contributors (including co-founders), the platform is seeking acquisition or merger, and it is expected that at least four DeFi projects will submit acquisition proposals for mStable before the end of Friday. As of the time of press release, dHEDGE, an on-chain asset management service, has submitted its first offer on the mStable forum. The holders of the governance token MTA of mStable will finally vote to decide which proposal to accept. The buyer will obtain the encryption assets, team and technology of mStable, including its vault based on smart contracts, to generate income for the depositor’s stable currency.

The stable currency aggregation agreement mStable is expected to receive at least 4 acquisition offers

Analysis based on this information:

In recent news, it has been reported that mStable, a stable currency aggregation agreement, is seeking acquisition or merger due to the decline in product revenue and the withdrawal of major contributors, including co-founders. According to 0xloth, the anonymous strategic director of mStable, at least four DeFi projects have shown interest in the platform and are expected to submit acquisition proposals before the end of Friday.

As a decentralized finance (DeFi) project, mStable allows users to trade between stablecoins with minimal slippage and fees. However, the current market conditions have affected its product revenue, leading to the decision to seek acquisition or merger.

The process of acquisition involves interested DeFi projects submitting proposals that will be voted on by the holders of the governance token, MTA, to decide which proposal to accept. The successful buyer will gain access to mStable’s encrypted assets, team, and technology, including its vault based on smart contracts to generate revenue for the depositor’s stable currency.

One proposal that has already been submitted came from dHEDGE, an on-chain asset management service. It remains to be seen which other DeFi projects will submit proposals and which one will ultimately be selected by the voters.

This news highlights the competitive nature of the DeFi space, where projects are constantly trying to gain an edge and increase their market share. The acquisition or merger of mStable by another project could potentially strengthen their position in the market and provide new opportunities to generate revenue.

In summary, mStable’s decision to seek acquisition or merger is a response to the decline in its product revenue caused by the current market conditions. The process of acquisition involves interested DeFi projects submitting proposals that will be voted on by the holders of the governance token MTA, to decide which proposal to accept. This news reflects the competitive nature of the DeFi space and highlights the potential for growth and development through strategic acquisition or merger.

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mStable Seeks Acquisition or Merger amid Product Revenue Decline

The stable currency aggregation agreement mStable is expected to receive at least 4 acquisition offers

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