March 15, 2023
DeFi Exchange mStable Mulls Over Acquisition, Merger Offers
Elizabeth Napolitano Elizabeth Napolitano is a news reporter at CoinDesk. Follow @ LizKNapolitano on Twitter MStable’s community is going ahead with plans to vote on the future of its decentralized stablecoin investments service, which has hit a wall in recent months, according to the community’s latest proposal . The project has three options: pursue a merger with another crypto project, greenlight its acquisition by another project or sunset its services entirely. Merger offers have come in from Spool DAO and Idle Finance, while DHEDGE and Origin Protocol are eyeing acquisitions of MStable. A vote to shutter mStable, however, would kick-start a product shutdown to be completed by the end of April. The most recent voting options are mStable’s last-ditch attempt to breathe new life into its struggling stablecoin exchange. In recent months the exchange has suffered several setbacks such as a lackluster user adoption rate, declining product revenue and the exodus of many of its leaders, including its co-founder . Holders of mStable’s governance token will select which proposal to accept. An approved buyer will control MStable’s crypto assets and its technology, which includes its yield-generating stablecoin vaults, after a sale goes through. The proposal will go to a vote on March 20, and the voting period will last for a period of five days. Read More: DeFi Stablecoin Exchange mStable Expects 4 Buyout Bids: Source DISCLOSURE Please note that our privacy policy , terms of use , cookies , and do not sell my personal information has been updated . The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups . As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG . Elizabeth Napolitano Elizabeth Napolitano is a news reporter at CoinDesk. Follow @ LizKNapolitano on Twitter Learn more about Consensus 2023 , CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now. Elizabeth Napolitano Elizabeth Napolitano is a news reporter at CoinDesk. Follow @ LizKNapolitano on Twitter
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