MYSO now live on Sei v2 + new covered call pooling product
Announcing the launch of MYSO on Sei v2 and new covered call pooling solution, unlocking organic real yields on the Sei Token
MYSO is excited to announce our deployment on Sei v2, the fastest parallelized EVM-compatible chain in the world. We are proud to collaborate with the brilliant minds at Sei and to be an early contributor and builder within their innovative ecosystem!
MYSO on Sei v2 available here — https://app.myso.finance/
MYSO is an EVM-compatible DeFi protocol enabling users to lend and borrow any ERC20 token with fixed, individualized terms without price-based liquidations. Its flexible design supports a variety of structured product strategies, including trustless covered calls and convertible debt. Yields are generated through premiums paid by one counterparty to another, whether it be a fixed interest payment on a loan or an option premium paid to a user engaging in a trustless covered call strategy.
In conjunction with our deployment on Sei, we are also thrilled to introduce our new covered call pooling solution. This innovative feature allows Sei holders of all sizes to earn truly organic yield on their SEI by investing in a covered call strategy.
Deposits are now available here — https://app.myso.finance/p2p
SEI covered call pooling— how does it work?
MYSO enables bespoke and fully customizable covered calls without counterparty risk for nearly any token. Covered calls are a well-known yield enhancement strategy from TradFi that can also be applied in crypto. In the context of MYSO, this offering allows token holders to lend otherwise idle tokens to generate upfront stablecoin revenue by writing call options.
To provide the most competitive yields, MYSO collaborates with numerous institutional trading firms to secure the best premiums in the market and ensure efficient matchmaking. With over $2 million in covered call volume already settled, MYSO is a leader in bespoke covered call strategies.
With MYSO’s new product, users can deposit their SEI into the MYSO pooling contract. Once the target amount of 1M SEI is reached, participants will engage in a covered call for Sei with a 60-day lockup and a strike price of 110%.
By depositing their SEI into the pool, users can earn a yield of up to 54% APY! This yield is paid upfront in stablecoins as compensation for capping their upside at the 110% strike price
Example scenario
Let’s say you deposit $5,000 worth of SEI into the pool. You’ll receive 9% in stablecoins, or ~$450 upfront — you can claim and withdraw these immediately!
- After 60 days, if Sei’s price hasn’t increased by >10%, you’ll get your SEI back
- If Sei’s price exceeds the 110% strike, you receive $5,500 in USDC, automatically converted at the strike price
MYSO now live on Sei — additional rewards!
We are thrilled to bring these organic, real yield opportunities to the Sei ecosystem and are proud to partner with Sei!
To celebrate this exciting new chain rollout, MYSO will provide a retroactive oMYT airdrop to users participating in the first-ever Sei covered call strategy! All you have to do is deposit into the pooling contract, and you’ll be eligible!
Join us in this groundbreaking venture and take advantage of the yield opportunities now available on the Sei network!
