mStable is reborn!
mStable is back.
After a full rebuild, the protocol returns with a clear goal: to create simple, composable tokens that deliver sustainable yield in DeFi.
The first of these is mStable Pendled sUSDe (mPT-sUSDe).
Built on Pendle, Aave, and Ethena, it stacks multiple layers of yield into a single token that compounds automatically.
Hold one asset and earn from three proven systems: Pendle’s fixed yield, Aave’s capital efficiency, and Ethena’s delta-neutral strategy.
Built on Pendle
mPT-sUSDe starts with Pendle Principal Tokens derived from Ethena’s sUSDe and their fixed yield. mStable gives holders access to that fixed yield without needing to manage maturities.
No need to track expiry dates or move funds manually. When a Pendle PT matures, the position rolls into the next series automatically.
Your yield never expires.
Efficiently Stack Yield
mStable takes the Pendle yield and multiplies it. Using Aave, the position is looped and optimized for higher returns.
The design of mPT-sUSDe makes it one of the most efficient yield tokens on Ethereum mainnet.
Each layer works together:
- Ethena provides the base yield with sUSDe.
- Pendle locks in fixed yield through PT-sUSDe.
- Aave boosts efficiency through lending loops, multiplying the fixed yield.
Everything runs transparently, tapping into deep Ethereum liquidity across Ethena, Pendle, and Aave.
All positions are fully collateralized and visible to anyone. You maintain exposure to stable assets, not volatile collateral.
This is how you multiply fixed yield. Simple. Composable. Automatic.
Build Wealth Like Wall Street
Traditional finance compounds returns through structured yield and leverage. mPT-sUSDe brings that same design to DeFi, operating continuously with full transparency and self-custody.
Yield is not farmed. It is engineered.
The system runs on audited contracts, reviewed for security and transparency. Full reports are available in the mStable documentation.
Every part of the system is built for efficiency, combining Ethena’s funding engine, Pendle’s fixed yield, automated rollovers and leverage management on Aave, and Ethereum’s deep liquidity to minimize slippage.
Start Compounding
mPT-sUSDe is live on Ethereum mainnet.
You can trade and track it now at mstable.com.
It marks the beginning of a new phase for mStable, a series of tokens that automate real yield strategies and make them accessible to everyone.
mStable is reborn.
About mStable:
First launched in 2020 and acquired by dHEDGE in 2023, mStable has evolved from stable asset aggregation to automated yield tokens designed for today’s market.
Join the mStable community for updates and discussion on upcoming releases: