Summary:
Have spoken to a few Curve community members and they recommended we post here to introduce MYSO as well as propose some ideas on how MYSO’s peer-to-peer loans can benefit $CRV and $crvUSD holders as well as the overall Curve community!
MYSO Finance (https://myso.finance/) is a peer-to-peer (p2p) lending protocol facilitating crypto-collateralized loans. We recently launched our v2 DApp and are live on Ethereum, Arbitrum, and Mantle. The MYSO v2 codebase has undergone 3 independent security audits from Trail of Bits, Omniscia, and Statemind.
MYSO differentiates itself from other DeFi lending protocols for both borrowers and lenders in many ways:
Borrowers are spared from any liquidation risk for the loans they take on and have transparent and fixed terms. MYSO’s loans are aptly-named ‘Zero-Liquidation Loans’ because there are no price-based liquidations - borrowers therefore have the right, but not the obligation, to repay a given loan prior to its expiry.
Lenders on the other side have control over how they structure their loans and full autonomy over the terms of each loan offer they create - lenders decide the tenor, interest rate, and LTV of each loan. Since lenders bear collateral price risk, they are compensated with a higher, risk-adjusted yield for doing so.
Lenders provide liquidity into an isolated vault and when a borrower finds a loan offer attractive, they accept it, pledge their collateral, and borrow from the vault. Borrowers and lenders are thus matched peer-to-peer once a loan offer is accepted.
You can access the MYSO DApp here to test out the platform - https://app.myso.finance/
Abstract:
One particularly interesting use-case for Curve community members is utilizing MYSO for bespoke loans. MYSO can be used to create custom loans and set up bespoke loan agreements between $CRV and $crvUSD holders.
MYSO is uniquely positioned to offer Curve users the ability to create or request personalized loan agreements, catering to your unique borrowing/lending needs. For example, if you’d like to pledge your CRV as collateral and borrow crvUSD with an exclusive, personalized loan offer, you can request a loan through our on-chain loan request system built into the DApp or off-chain OTC Telegram bot, which can be found here - t.me/MYSOFinanceBot
For crvUSD holders that want to customize their loans with unique terms and earn higher, risk-adjusted yields, MYSO can be used to accomplish this. There are already several live loan offers available on MYSO that lend out crvUSD against CRV and you can easily and quickly create new ones with custom terms that match your own risk/reward profile.
MYSO vaults can handle a variety of collateral types, including Curve LP tokens. Loans can be structured with fully customizable Loan-to-Value (LTV) ratios, loan durations, and fixed APRs to optimally align with the needs of each borrower and lender within the Curve ecosystem.
MYSO offers several tools to aid both borrowers and lenders in figuring out terms that fit their needs as well as provide historical backtesting data on CRV/crvUSD prices.
You can find these resources here:
Historical backtesting tool - https://zll-backtests.streamlit.app/
MYSO loan pricing tool - https://mysofinance.streamlit.app/
Motivation:
At MYSO, we’d like to become the go-to lending protocol for Curve holders to create bespoke loan agreements and structure their own loans based on risk/reward preferences.
By lending out to $CRV holders, you can structure your own loan risk, tap into yields that align with your financial objectives, and help source liquidity for the wider Curve ecosystem.
CRV and crvUSD holders are also welcome to create loan offers against other tokens outside of the Curve ecosystem and allow both tokens to be used as either collateral/lending currency.
Loans can already seamlessly be facilitated through the MYSO DApp and a live loan offer is already available.
Specification:
We’d love to know your thoughts on this introduction and gauge the Curve community’s interest in Curve loans on MYSO!
We encourage community members to express their preliminary thoughts below in the comments and determine if there is demand to utilize MYSO to facilitate bespoke loans within the Curve ecosystem.
Here to answer any and all questions!
For:
Expand the utility of CRV and crvUSD through a novel method of DeFi loan structuring and offer a way for Curve community members to access a wider array of collateral options and bespoke loan terms.
Against:
We don’t want CRV and crvUSD to be used more productively