The co-founder of mStable said that the MTA plummet may be mainly caused by the selling of Mesa auction participants

James Simpson, co-founder of mStable (MTA), a stablecoin aggregation protocol, wrote an article in response to the question of “Unlocking part of the MTA in advance caused its price to plunge 45%.” The details are as follows: 1. mStable has unlocked nearly 3.1 million MTA for seed investors according to the seed round agreement; 2. The tokens allocated by the mStable team have been unlocked within three years since the token sale, within the past 24 hours The team did not profit from the MTA tokens or participated in the selling; 3. Most of the MTA selling in the past 24 hours seems to come from the participants of the Mesa auction. They may be worried that the unlocked tokens of seed investors will have an impact on the market . mStable will take the following actions: 1. Seed investor tokens unlocked in the past 24 hours will be voluntarily locked for another 3 months; 2. The mStable team will start unlocking their tokens three months after the token sale as planned Tokens will be unlocked every quarter for three years thereafter; 3. James Simpson himself will delay unlocking his tokens for 3 months; 4. mStable promises to maintain complete transparency in terms of token unlocking. Chain Wen previously reported that on July 18, mStable conducted an auction of protocol token MTA on Mesa DEX.