DeFi

MYSO v1 Protocol Now Live On Ethereum Mainnet

Key Points:

  • MYSO v1 is now live on the Ethereum mainnet. The first zero-liquidation loan pool that MYSO v1 rolling out is a rETH/wETH pool – borrowers will be able to hyperstake their rETH w/o liquidation while lenders will be able to earn a yield on wETH without directly staking.
  • Previously, MYSO Finance closed a $2.4 million seed round in April 2022. In addition, MYSO completed its security audit with ChainSecurity in October 2022.
Lending protocol MYSO Finance’s v1 version is now live on the 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:

  • collateral currency: rETH
  • loan currency: wETH
  • tenor: 90 days
  • maxLoanPerColl: 1.01 wETH
  • r1: 4% annualized
  • r2: 2% annualized
  • liquidityBnd1: 1 wETH
  • liquidityBnd2: 50 wETH
  • minLoan: 0.1 wETH
  • baseAggrBucketSize: 100
  • creatorFee: 0.25%

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.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

26 minutes ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

54 minutes ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

2 hours ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

2 hours ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

2 hours ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

3 hours ago

This website uses cookies.