MYSO Finance is developing IKARUS, a zero-liquidation loan protocol that lets users borrow without liquidation risk while offering liquidity providers yield for bearing that risk. IKARUS is structured like a DEX, with individual borrowing markets and liquidity pools per token pair where LPs provide both assets and borrowers post one asset as collateral. The protocol is oracle-independent: repayment and settlement rely on incentives rather than external price feeds, and LPs receive either interest payments or the pledged collateral if borrowers don’t repay. LPs earn a risk premium determined by supply and demand, and MYSO describes their risk profile as comparable to option-writing strategies. The company will deploy the $2.4M seed to accelerate IKARUS development and to combine DeFi concepts with TradFi in future products. MYSO was founded in early 2022 after being awarded at the ETHOnline hackathon in October 2021.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Apr 2022