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MYSO v1 Protocol Now Live On Ethereum Mainnet

MYSO v1 Protocol Now Live On Ethereum Mainnet

MYSO v1 Protocol Now Live On Ethereum Mainnet

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Key Points:

Lending protocol MYSO Finance’s v1 version is now live on the Ethereum mainnet.
MYSO v1 Protocol Now Live On Ethereum Mainnet

The first zero-liquidation loan pool that MYSO v1 is launching is an rETH/wETH pool; lenders will be able to earn a yield on wETH without directly staking, while borrowers will be able to hyperstake their rETH without liquidation.

The following are the official parameters for this first pool:

The wETH of LP will never be lent out for less than 2% APR since the rETH/wETH pool will always be deployed with a minimum APR of 2%. Note that users’ actual payout rates (APYs), which depend on pool utilization and are unpredictable, are not the minimum APR of 2%. The initial tenor is set at 90 days, so borrowers may take out loans for as long as that amount of time. This indicates that users may have to wait up to the whole 90 days before a loan is settled.

For borrowers, the rETH/wETH pool enables users to hyperstake their rETH without any liquidation risk, allowing users to get leveraged exposure to rETH without worrying about liquidation, for instance, if rETH briefly depegs. We are aware that consumers will want to take advantage of this additional gain on their holdings of rETH because this hyperstaking offering sans liquidations has never been witnessed in DeFi previously.

Prior to this, MYSO Finance completed a $2.4 million seed round in April 2022, which included investors like Huobi, Nexo, Wintermute, HashKey, GSR, and CMT Digital. Additionally, in October 2022, MYSO and ChainSecurity finished their security audit.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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