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METASTABLE, is a decentralized vault system deployed on the Sui network. The protocol enables users to deposit supported assets—bridged or native—and mint a stablecoin, mUSD, which is pegged to the US dollar (for example). The protocol also now supports mETH. Users can utilize meta assets in AMMs, lending platforms, and other protocols while earning mPOINTS that may translate into future token rewards distributed via airdrops. Vaults also support lending out deposited assets for increased yield and capital efficiency. Unlike a strict 1:1 minting model, METASTABLE relies on oracle-based exchange rates (e.g., Pyth price feeds) or SUI LST exchange rates to determine the exchange rate between deposited assets and meta coins. With oracle feeds in place, the protocol can adapt to different price sources and handle a wide array of assets seamlessly. Using asset's exact on-chain exchange rate enables slippageless trades between assets supported by the vault, as opposed to slippage-prone, AMM counterparts. Although METASTABLE currently focuses on SUI LSTs, USD-pegged stablecoins, and ETH-pegged coins, its architecture has been designed modularly to allow extending the protocol with new meta coins. One could imagine a future where METASTABLE supports the creation of other meta coins, such as mBTC.