AIP-363: Unlocking $APE’ potential: Building a credit market with MYSO Finance

I see, makes totally sense! It’s definitely a possibility worth exploring for us as well!

Hi ApeCoin DAO Community,

Our team has reviewed and discussed @dominic’s AIP Draft and have sent a list of initial questions. We await answers.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

@dominic has responded to our questions and has provided consent to share them in this forum for the community.

1. The Overall Cost of this AIP is exclusively a recommended seeding allocation. Are there any expenses, either one-off or ongoing, payable to MYSO for the services rendered in this proposal?

No, there are no other expenses. The protocol fee from MYSO, applicable only upon a successful borrowing transaction, will be covered by the respective borrower.

2. The proposal mentions that the ApeCoin DAO would own a lender vault, and the Governance Working Group would oversee its operations.
Have you confirmed with the Governance Working Group that they would be capable of maintaining these operations and custody of any relevant assets (such as wallet keys)?

Yes - I am in regular contact with the GWG and they confirmed that if the AIP passed, they would be willing/able to deploy the capital.

3. How long have MYSO smart contracts been in operation?

MYSO v1 was deployed on Ethereum in January 2023. MYSO v2 was deployed on Mantle end of August 2023, on Ethereum end of September 2023 and on Arbitrum mid of October 2023. As of today, MYSO has a $1.25m TVL.

4. Which organizations, if any, have successfully implemented MYSO’s lending protocol?

Olympus DAO ($500k pilot project for a gOHM/DAI lending market), Mantle (created a lending market for $MNT), Rocketpool (we launched the first RPL/rETH credit market for their community), Pendle (seeded a lending market for PT-sDAI Token), IndexCoop (to seed a lending market dsETH), …

5. What bugs or exploits, if any, have been identified in the MYSO protocol?

As mentioned in the AIP, MYSO v2 has undergone three independent security audits. To date, there have been no instances of bugs or exploits identified in MYSO v2.

6. Do you provide consent to share these questions and answers with the community in this forum?

Yes, definitely

A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

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Hi ApeCoin DAO Community,

We have sent a list of follow up questions to the author, to which the author has responded.

Edits have been made to this Topic, by the author or by the author’s request.
You can click the Pencil icon at the top of the post to see these edits.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

We have no further questions for @dominic. This AIP is now under Administrative Review.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators