Announcing the official MYSO Token (MYT) Airdrop!

The day has finally arrived — today, we’re extremely proud to announce the official MYSO Token (MYT) airdrop to early contributors, community members, and active protocol users!

MYSO is a permissionless and decentralized peer-to-peer lending protocol that specializes in custom loans that allow users to borrow and lend with any ERC20 token. In addition, the protocol can support a wide range of different on-chain structured product strategies like synthetic token buybacks and trustless covered calls. MYSO has facilitated over $1.3 million in volume for on-chain covered call strategies for treasuries/users over the past several months.

Before we dive into the distribution and eligibility criteria, we’d like to give a massive thank you to all those who have meaningfully contributed to MYSO’s growth thus far — this means a thank you to all contributors, whether you’re simply a community member, active protocol user, or just occasional MYSO Activity Points (MAP) farmer!

To view if you are eligible and to claim your MYT airdrop, head over to:
https://app.myso.finance/airdrop

For full details and conditions of the airdrop, please refer to our Airdrop Terms.

NOTE: THIS IS THE ONLY OFFICIAL LINK FOR CLAIMING — BEWARE OF SCAM LINKS!

MYT Airdrop Criteria

MYSO strives to maintain an equitable playing field in all endeavors — to support this view, we’re happy to share that all active community members and active protocol users were eligible for the official MYT airdrop!

Rather than leaving certain protocol users and community members out, we opted for an approach that included every single participant within the MYSO ecosystem to be eligible, including:

• All MYSO v1/v2 borrowers and lenders
• All MYSO Activity Points (MAP) holders on Mantle/Arbitrum
• All role holders on Discord + Top 100 users on the MYSO Zealy Campaign
• All MYSO users who executed a covered call transaction

The snapshot for the official MYT airdrop was taken on March 12th, 2024 at 11:59 PM UTC.
(Note: if users completed a covered call transaction following this date, they were still included in the airdrop)

MYT Airdrop Distribution

MYSO is distributing approximately 1% (approximately 1,000,000 MYT) of the total MYT token supply as part of this initial airdrop.

The finalized airdrop distribution is as follows:

• 48% or ~480,000 MYT distributed to protocol users — MYSO v1/v2 borrowers and lenders as well as MYSO Activity Points (MAP) holders on Mantle/Arbitrum
• 23% or ~230,000 MYT distributed to community — Discord role holders/top 100 Zealy campaign users
• 20% or ~200,000 MYT distributed to covered call prospects to bolster exposure regarding the offering (first-come, first-served basis)
• 9% or ~90,000 MYT distributed to Mantle users as part of the Mantle Rewards Station initiative

Mantle Rewards Station

We’re happy to share that a portion of the MYT airdrop distribution has been allocated to Mantle Rewards Station, which incentivizes MNT holders by offering them exclusive rewards from top Mantle Ecosystem projects!

MYSO and the Mantle ecosystem have had a long-standing relationship so it was only natural to reward users directly via the new Rewards Station initiative!

To have a chance of earning MYT via the Mantle Rewards Station, lock your Mantle tokens ($MNT) to earn raffle tickets. At the end of the snapshot period (May 3, 2024 at 9:59AM UTC), participants will receive raffle tickets based on the average amount of $MNT they locked during the snapshot period. Daily snapshots will be taken to calculate this average, and users who lock more than 100 MNT will receive tickets.

The more $MNT you lock, the more raffle tickets you receive!

Once the snapshot period ends, winners will be selected at random one (1) working day after the campaign ends. There will be 500 winners in total, each receiving 181.818 MYSO tokens! If you’ve been selected as a winner, you can claim rewards from the vault within 30 days of the campaign’s end.

Head over to the official Rewards Station page for MYSO to lock your MNT for a chance to earn MYT — boost your chance of winning by following MYSO’s X/Twitter as well!

MYSO Token (MYT) Tokenomics

The MYSO Token (MYT) has a fixed fully diluted supply of 100,000,000 tokens with the following distribution:

• Ecosystem Growth: 39.90% or 39,900,000 MYT
• Treasury : 30.00 % or ~30,000,000 MYT
• Core Contributors: 19.17% or ~19,170,000 MYT
• Investors: 10.93% or ~10,930,000 MYT

The MYSO token will act as a governance-utility token to secure the entire MYSO ecosystem by fostering cooperation between and giving access to all relevant stakeholders. A distributed and decentralized token-based governance system will allow active token holders to equitably manage the direction and allocation of resources within the MYSO ecosystem. Thus, MYSO token holders will collectively control the MYSO DAO treasury and fee switch.

The DAO treasury can be used to fund new protocol developments as well as bootstrap liquidity within the MYSO ecosystem, such as creating loan offers exclusively available to MYSO token holders. To further grow organic usage of use-cases for the MYSO protocol, such as covered calls for whales and treasuries, MYSO token holders will also be able to lock their tokens to earn a locking yield for contributing and actively steering MYSO token incentive emissions.

A more-detailed tokenomics paper will be live soon.

What’s Ahead?

We’re super excited that the official MYSO Token airdrop is now here— but there’s still so much to announce ahead!

In the coming days, the Initial Open Offering (IOO) will go live, which is a unique token distribution mechanism that will allow users to get access to the MYSO token by farming call options. What this means is that rather than conducting a simple token sale, the IOO will allow users to acquire MYT by pledging some collateral as part of a MYSO loan — they’ll then have the option to either keep the MYT or return it prior to a fixed expiry date to reclaim their collateral!

We’ve already announced a few exclusive collateral types like Rocket Pool rETH, Lido wstETH, f(x) protocol fxUSD, and Gains Network gTokens and have a few more to share before it goes live!

In addition, we’ll also be unveiling and launching secondary markets for the MYSO token shortly after the IOO ends — if you miss out on getting access to the IOO, you’ll have an opportunity to acquire MYT from a DEX/CEX soon! There will be a restriction on MYT transfers in place until after the IOO is over which will be lifted before the first secondary market is live.

We’ll also be sharing our roadmap for what’s ahead, including staking, new products, governance details, and so much more!

Get ready — IOO soon! 👀⌛

Source MYSO