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Introduction to the Meta Protocol
The Meta Protocol is a groundbreaking decentralized protocol designed to bring stability to the volatile world of cryptocurrency. Built on GLP, the protocol leverages GLP as its primary components.
The protocol's primary objective is to provide the cryptocurrency industry with a safer, more decentralized stablecoin, mUSD, which offers stable, real-yield to its token holders.
As a DeFi protocol, Meta Finance facilitates the minting of mUSD by allowing users to borrow against their deposited GLP.
GLP, being a index token with ~50% allocation to Bitcoin/Ethereum and ~50% allocation to stablecoins USDC/USDT, has been quite stable compared to LSD assets such as stETH.
GLP holders earn trading fees, margin fees and trader's PnL. Historically, GLP has given 8% to 65% APR, with an average APR of 27%. This is at least 500% more than LSD yield which is typically less than 5% (stETH @ ~4.1% and stMatic @ ~4.3%).
These features along with mUSD being an GLP-over-collateralized stablecoin, offers users the security and stability necessary for conducting their business with confidence.
A distinctive feature of the Meta Protocol is that users can earn regular stable income by holding minted (borrowed) mUSD, which is powered by the GLP income. In other words, when users deposit GLP tokens and mint mUSD against them, they receive an average stable income of 20%+, which is converted to mUSD through the protocol and distributed to them.
mUSD is an interest-bearing, over-collateralized stablecoin that ensures safety and stability. The Meta Foundation and MetaDAO community firmly believe that a decentralized stablecoin is essential for both enterprises and individuals to fully harness the benefits of cryptocurrency. By offering an interest-bearing stablecoin supported by GLP, the Meta Protocol empowers users to participate in the DeFi ecosystem with confidence and security.