MYSO V3: Introduction

MYSO is a DeFi protocol that gives users access to tailor-made onchain structured products. The protocol allows users to write call options (commonly known as "covered calls") as well as cash-secured puts across a broad range of assets, with fully customizable option terms. This way users can earn attractive upfront cash premiums, effectively monetizing the volatility of their holdings.

Target Users

HNWIs

Founders, angels, and whales can use MYSO to write call options on larger (vested) token positions, allowing you to generate liquidity from your holdings without selling. By writing a call option, you can commit to potentially selling your tokens in the future at a higher price (known as the strike price) if the token price appreciates accordingly. Otherwise, you can retain their original tokens. Regardless of the outcome, you receive the option premium upfront, making call writing an attractive tool to unlock liquidity from otherwise idle tokens. MYSO enables you to obtain tradeable quotes across various trading firms and efficiently get matched onchain.

Treasuries

Treasuries can write call options on treasury tokens to generate stablecoin income while maintaining flexibility in your token holdings. This approach allows you to strategically divest tokens into stablecoins, but only under favorable market conditions—selling automatically when prices rise while retaining your tokens if prices remain stable or decline.

Alternatively, treasuries can use cash-secured puts as a structured way to conduct token buybacks. This involves committing stablecoin reserves to repurchase your token at predefined prices (e.g., 20% below the current spot price). If the token price remains above the strike price, you retain your stablecoins; otherwise, you acquire your own tokens at a discount. In return for this commitment, you receive an upfront put premium, effectively earning yield on your reserves.

VCs and Asset Managers

VCs can leverage call writing to generate immediate liquidity from vested token positions, enabling you to free up capital and strategically capitalize on market peaks by selling calls at opportune times. Similarly, onchain asset managers can incorporate both call and put writing as part of an overlay yield strategy to enhance returns on your managed assets.