General
Stablis Protocol
Stablis is a decentralized borrowing protocol on the Metis blockchain. It enables users to access loans backed by assets that generate yields like LSD's. These loans are denominated in USDs, a stablecoin pegged to the US dollar, and must maintain a minimum collateral ratio to ensure the system remains secure and well-supported.
Apart from the collateral, the loans are backed by a Stability Pool that contains USDs. Additionally, fellow borrowers act as a safety net, collectively serving as guarantors of last resort. More details about these protective mechanisms can be found in our documentation.
If you have any questions feel free to join our Discord community for additional support and discussions. Official links
Mission
Stablis aims to bring a capital efficient and user-friendly way to borrow stablecoins against yield bearing assets like sMetis. This means the collateral itself generates yield, allowing users to earn interest while having on-demand liquidity through stablecoin minting.
Key benefits
Low interest rates
Re-utilise liquidity: Unlock liquidity from yield-bearing assets across Metis DeFi Protocols
Low minimum collateral ratio: Starting at 125% it allows for more efficient usage of deposited assets
Directly redeemable: USDs can be redeemed at face value for the underlying collateral at any time
Main usecases
Borrow USDs against collateral by opening a Chest
Secure Stablis protocol by providing USDs to the Stability pool in exchange for rewards
Stake $STS to earn protocol revenue generated through borrowing/redemption and interest rate fees.
Redeem 1 USDs for 1 USD worth of collateral when the USDs peg falls below $1
USDs and STS tokens
USDs is the USD-pegged stablecoin used for loans on the Stablis Protocol. It can be redeemed against the underlying collateral at face value at any time.
STS is the secondary token issued by Stablis. It captures fee revenue that is generated and incentivizes early adopters of the protocol. Total STS supply is capped at 100M. Tokenomics
Yield
For users there are two ways to generate yield
Deposit USDs to the Stability pool and earn liquidation gains and STS rewards Stability Pool and Liquidations
Stake STS and earn revenue from borrowing and redemtion fees (in USDs and used collateral type assets)
Stablis Codebase
Stablis is based on the Liquity codebase, Liquity is a well-known and stress tested decentralized stablecoin protocol on Ethereum mainnet, live since april 2021. Stablis Protocol has extended the liquity codebase by adding multiple collateral types.
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