mStable🤝Abachi — Abachi deploys US$1.5m of its Treasury into mStable Save
We are excited to announce that Abachi — a platform that builds, funds and acquires tech that will onboard real-world users to DeFi — has deployed US$1m of its treasury funds into mStable Save on both Ethereum and Polygon networks and plans to deploy US$500,000 in the coming days.
In addition to the $1.5M stablecoin allocation, Abachi Treasury has also acquired $36,000 USD worth of MTA, yielding staking rewards that will further grow the mUSD balance in the Abachi Treasury by allowing Abachi to direct incentives via the mStable emissions controller and other incentives in the future. mStable and Abachi governance will vote on staking these MTA and are confident this has strong support on both sides.
mStable Save is DeFi’s leading non-custodial and permissionless savings account with yields sustained from lending interest, swap fees and token rewards. Over $3B in volume has occurred on mStable, with a current TVL near $150M.
We see a future where projects and DAOs continue to expand and find opportunities to deploy stablecoins in treasury for yield opportunities and to sustain operations. mStable is at the forefront of capturing this demand with its proven track record.
Abachi hopes to leverage mUSD as a native stablecoin in it’s ecosystem as they believe it offers the best options for users and removes some inherent risks with a single stable coin. Staking MTA and directing rewards into its positions will help both Abachi and mUSD adoption
In the meantime, we are extremely excited to onboard Abachi and look forward to the growth of both protocols in 2022 and beyond.
About Abachi
Abachi is building the technical rails to onboard the multi-trillion dollar TradFi industry into the decentralized finance world.
About mStable
mStable is an autonomous and non-custodial infrastructure for pegged-value crypto assets.
