MYSO Finance V1 Zero-Liquidation Loans

Wednesday, January 11, 2023

Quick Take

  • MYSO deploys v1 lending protocol.
  • Ondo Finance launches tokenized treasuries.
  • CAP Finance v3.1 public beta release.
  • Transpose adds support for Scroll L2.

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Myso Finance V1 Zero-Liquidation Loans

Myso Finance launched MYSO v1, a structured yield protocol that offers fixed-interest, oracle-free, and zero-liquidation loans. The initial yield product features an rETH/WETH pool that provides borrowers with leveraged staked-ETH exposure. Lenders and LPs also earn a yield on WETH without having to stake directly.

Myso allows users to use rETH as collateral to borrow WETH, which bears a minimum APR of 2%. The loan holds a 90-day tenor, requiring LPs to wait up to 90 days until a loan gets settled. Myso claims to be the first protocol to offer hyperstaking without risk of liquidation, even if rETH de-pegs temporarily.

Hypserstaking is open to everyone, however, liquidity provisioning is currently a gated launch open to those who participated in Myso’s LP waitlist during the public testnet. The initial pool is capped at 50 active liquidity providers. A MYSO v1 referral program is also live over the next three weeks, which rewards top users by referral volume.

Ondo Finance Launches Tokenized U.S Treasuries

On-chain securities protocol Ondo Finance launched a new fund that allows users to trade stablecoins for U.S. Treasuries and bonds. The funds are invested into short-term U.S. treasuries and bonds through exchange-traded funds (ETFs) managed by BlackRock and Pimco. Investors receive tokenized fund interests.

Investors can transfer the tokenized securities between each other and can interact with smart contracts that have been approved by the fund. The tokens are also subject to transfer restrictions that ensure they can only be obtained by qualified investors. Stablecoins held by the funds are custodied by Coinbase Custody.

Ajna Finance Oracle-Free Lending

Ajna Finance released a whitepaper for its oracle-free and governance-free lending protocol. Ajna Finance will accept both NFTs and ERC-20 tokens as collateral for loans. Instead of using price oracles, lenders on the platform determine worst-case price levels for collateral, effectively setting their own LTV ratio.

Liquidators who post a bond can trigger liquidation events, but risk losing their bond if they act dishonestly. Interest rates are automatically determined based on pool utilization. Under-collateralized loans are also liquidated in a reverse dutch auction. Ajna Finance is currently undergoing its first audit and plans to launch in Q2 2023.

Transpose Adds Support For Scroll

Transpose, a blockchain data platform, now supports high-level EVM data indexing on the Scroll Pre Alpha testnet. Scroll developers can use Transpose to query real-time data and retrieve concise data abstractions. Transpose is used to integrate data such as transaction logs, NFT sales, and DEX swaps. Scroll is an EVM equivalent ZK-rollup, which supports bytecode-level compatibility.

Cap Finance Releases v3.1 Public Beta

CAP Finance, a perpetual DEX on Arbitrum, released v3.1 to public beta. The release features risk management tools including set limit, stop, take-profit, and stop-loss. Other features include cross-margin and dynamic funding. The protocol also plans to add support for Polygon and Optimism. According to Defillama, CAP Finance holds just over $5 million in TVL.