mStable Save now supports ERC-4626! 🎉
TL;DR
- mStable Save on Polygon and Ethereum mainnet are now both fully compliant with ERC-4626 with the upgraded Save Contract
- The upgrade retains full backwards compatibility and has no breaking changes
- mStable is excited to embrace this emerging standard and continues to push composability forward
Save Contract upgrade
The Save Contract is a smart contract that accepts mUSD (mStable USD) and returns the user a share of the pool in form of imUSD (interest-bearing mStable USD).
Previously, the integration of this contract followed its own interface and made integration with other protocols more complicated and time intensive. Today, we are excited to announce that it is now fully compliant with ERC-4626 on Polygon and Ethereum Mainnet.
The contract remains fully backwards compatible — protocols, dApps and interfaces that have integrated Save, e.g. Gelt, 2pi, Minke need not make any changes to their contracts.
Future integrators are now able to use this new standard to integrate mStable Save and use it as a DeFi lego in the future.
What is ERC-4626?
ERC-4626 describes a Vault which generates interest in the form of ERC-20 token(s). It is also an extension of the ERC-20 standard where all ERC-4626 tokenised Vaults must implement ERC-20 to represent shares and implement ERC-20’s optional metadata extensions like name and symbol .
There are other standardised functions to deposit (deposit and mint) and withdraw (redeem and withdraw) in and out of the Vault depending on whether the amount of underlying asset or the amount of shares is used.
For more information about ERC-4626, check out the article below.
The future is ERC-4626
With the upgraded Save contract, mStable is one of the first protocols to support this standard on Ethereum mainnet. This is just the beginning of a more exciting future where we further embrace this standard towards a more composable yield infrastructure.
Stay tuned 👀.
