mStable is a pegged-value protocol that allows users to deposit, swap, and earn yield on a variety of stablecoins. They offer a stablecoin called mUSD that is backed by a basket of well-known stables such as USDT, USDC, and Dai. This reduces the risk of holding any individual stablecoin: for example if Tether were to collapse, holders of USDT would lose everything but mUSD would lose just 28% of its collateral. Furthermore, any collateral shortcomings are back-stopped by the holders of mStabl...