Thread by @mstable_, A recent governance proposal came from $META investor @richwgalvin of @DigiAssetFund focused [...]

A recent governance proposal came from $META investor @richwgalvin of @DigiAssetFund focused on making SAVE composable: https://forum.mstable.org/t/proposal-make-save-composable/259/

[PROPOSAL] Make SAVE Composable

Summary mStable’s SAVE remains one of the most accessible, reliable and high-yielding products in DeFi. Elements of it’s design however limit the ability for it to be integrated across the broader...

https://forum.mstable.org/t/proposal-make-save-composable/259/

SAVE is one of the simplest #DeFi products. This proposal would make SAVE embeddable into other protocols. The discussion elicited other ideas like multiple risk profiles.

After reaching rough consensus on the mStable forum, Lead Developer Alex Scott has proposed MIP-5: https://mips.mstable.org/MIPS/mip-5

Tokenise mUSD SAVE, enhance capital efficiency and add deposit box

mStable Improvement Proposals (MIPs) describe standards for the mStable platform, including core protocol specifications, client APIs, and contract standards.

https://mips.mstable.org/MIPS/mip-5

MIP-5 introduces three changes that will bring immediate changes all SAVE users can benefit from, along with the larger #DeFi ecosystem:

- Tokenise SAVE
- Enhance Capital Efficiency
- $ymUSD Deposit Box, with a Boost for $META Stakers

First create a savings contract that tokenises the savings credit. This means that mUSD SAVE could become a composable element that can be used as a secure, high yielding collateral throughout DeFi.

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