• MStable’s community will vote this month on whether to accept an acquisition, merger offer or sunset its stablecoin investments service.
• The project has received offers from Spool DAO and Idle Finance for a merger, while DHEDGE and Origin Protocol are interested in an acquisition.
• Holders of mStable’s governance token will select which proposal to accept during a five-day voting period beginning on March 20.
MStable Mulls Over Acquisition, Merger Offers
MStable’s community will vote this month on whether to accept one of the offers or sunset its struggling stablecoin investments service. Three options are available: pursue a merger with another crypto project, greenlight its acquisition by another project or shut down its services entirely. Merger offers have come in from Spool DAO and Idle Finance, while DHEDGE and Origin Protocol are eyeing acquisitions of MStable. This vote is the project’s last-ditch attempt to breathe new life into its exchange after it suffered several setbacks such as low user adoption rate, declining product revenue and the exodus of many of its leaders, including co-founder.
Options For Community Vote
The proposal will go to a vote on March 20, with holders of mStable’s governance token selecting which proposal (merger or acquisition) to accept for a period of five days. A successful buyer would control MStable’s crypto assets and technology after sale goes through – this includes yield-generating stablecoin vaults. In addition, should the community decide to shutter mStable, product shutdown would be completed by end April 2022.
Underlying Issues Facing mStable
mStable has faced numerous issues that have led up to this point – lacklustre user adoption rate is one example having seen the product struggle to gain traction since launch in 2020; followed closely by declining revenues due to misalignment between products offered by mStable and customer needs/wants; leading eventually to exodus of many leaders including co-founder that greatly impacted overall operation/functioning of service provided by company.
Recent Developments
In light of all these issues , recent developments include potential mergers/acquisitions being made available for consideration (Spool Dao & Idle Finance for mergers; DHEDGE & Origin Protocol for acquisitions). All these proposals offer viable solutions that could potentially revive mstable’s operations – however it remains up to stakeholders via upcoming voting session (beginning 20th March) if any/all proposals should be accepted . Should majority decide in favour shutting down entire platform , then product shutdown will take place end April 2022 .
Conclusion
In conclusion , though mstable has faced some significant challenges over past year or so , there remain some viable solutions being proposed via potential mergers / acquisitions . It now falls upon stakeholders via upcoming voting session (beginning 20th March) if any / all proposals should be accepted , thereby potentially reviving operations at least partially .