https://testnet.myso.finance/

Below, we’ve prepared a full step-by-step guide to get acquainted with the testnet, going over both a borrowers’ and liquidity providers’ perspectives.

At the end of this guide, you’ll see some detailed information about a giveaway we’ll be running to incentivize people to stress-test the protocol and provide feedback — we’re happy to give back to our community for telling us where to improve and sharing your thoughts!

Now, let’s dive into the public testnet and learn how to take out Zero-Liquidation Loans (ZLLs) and provide liquidity!

When first connecting to the testnet, we see a screen to connect your wallet. The testnet contracts are published on the Ethereum Goerli test network, so we need to make sure we are connected to this particular chain. The Goerli RPC details are registered automatically within your MetaMask or other popular wallet. Navigate to the “Networks” tab on the top of your wallet, scroll down and select “Goerli test network.”

To start interacting with the MYSO dApp, we first need some Goerli ETH. There are many faucets available online, but we recommend using the Chainlink Goerli faucet, which can be found here: https://faucets.chain.link/goerli — just type in your wallet address, link your Twitter, and send the request — Goerli ETH should arrive in your wallet within the next minute or so.

Once the testnet ETH arrives, click the faucet icon on the top right side of the MYSO dApp, which will open up a screen that allows you to to claim several tokens: PAXG, cUSDC, and wstETH. Make sure to mint each of the tokens as you will be using them for both providing liquidity and contributing collateral to take out ZLLs. Note: each address can only mint each token once per day.

Now, you’re ready to take out your first Zero-Liquidation Loan!

When going through the page for borrowing and providing collateral, there are two currently available options to start: Borrowing cUSDC by either putting up PAXG or wstETH as collateral.

Select the type of loan you want to take out and proceed by entering a pledge amount in the second step. Below, there are several featured loan pool options for both PAXG and wstETH collateral, each with a set of loan amounts, repayment amounts, and distinct APRs based on the amount of collateral you provide and chosen tenor period.

You are now able to take out your first Zero-Liquidation Loan! Navigate to the right side of the screen, where you’ll see a number of additional stats related to your loan, such as the loan expiry date, reclaimable collateral amount, and total fees associated with the borrow. You can also edit slippage tolerance for both your APR and loan amount by clicking the gear above the input fields.

Once you’re ready to take out the loan, hit the “Approve Then Borrow” button, which will authorize the MYSO borrow contract to access and use your collateral for the loan. Two wallet pop-ups will show up — the first of which is the approval, and the second being the loan transaction. Once you click confirm, you’ve taken out your first Zero-Liquidation Loan!

You’ll now be taken to the “Manage Loans” section of the dApp and will be able to see your currently open loans, as well as past loans. For currently open loans, you’ll be able to see information such as the Loan ID, borrow amount, loan expiry date, repayment amount, and amount of collateral that’s been put up. In addition, to view your loan transaction directly on a block explorer, simply press on the Loan ID or any other part of the loan statistics and it’ll bring up the tx information directly on Etherscan.

In the open loans section, you’ll also be able to repay the loan and retrieve your collateral. Once you’re ready to do this, just hit the “Repay” button on the right side of the screen. This will bring up a window that shows how much collateral you can reclaim, along with the amount of loan token that you have to repay to reclaim. Click “Approve and Repay”, which will bring up some wallet pop-ups for confirming both transactions.

Past loans, which include both those that were repaid or forfeited, are able to be viewed in the “Past Loans” section of the “Manage Loans” menu selection. Here, we can see detailed information about our past ZLLs, including the Loan ID, the status of the loan (either repaid or forfeited), the time of repayment/forfeiture, as well as the borrow, repayment, and collateral amounts. As with currently open loans, you are able to view the loan transaction directly on Etherscan as well by clicking on any of the loan statistics.

Now, let’s take a look at the process of being a liquidity provider (LP) on MYSO and providing liquidity to a pool!

When clicking the “LP” selection at the top of the dApp, we are taken to the “All Pools” page. Here, we are able to see the currently available pools into which we are able to provide liquidity. Each pool is designated with the associated loan currency and collateral currency, as well the total liquidity, current yield APR, loan tenor period, current LTV, max loan per collateral unit, and last 24hr loan volume. Note that the APR for each pool might changed based on utilization and liquidity.

Let’s say you want to provide liquidity to the top-most pool (cUSDC/PAXG) — this pool allows you to supply cUSDC liquidity and earn a yield, which is currently ~15% APR. Click the “View” button, which will bring up a detailed screen with detailed information regarding the pool, as well as your positions within the pool.

Now, let’s provide some liquidity to this pool. Enter the amount of cUSDC liquidity you want to provide, then click the “Approve Then Add” button — this will allow the MYSO contracts to use your cUSDC and subsequently add your cUSDC liquidity into the pool. This page will also feature the post-add pool APR, which should naturally become lower as liquidity in a pool increases.

Once your provision transaction goes through, the “Liquidity Composition” graphic should fill up with a black circle, indicating that whatever liquidity you’ve provided is now available for loans. This should initially make up your entire liquidity composition until someone takes a loan from the pool.

The first tab on the** **lower part of the screen shows your “Claimable Buckets”, which allow you to claim loan repayments over a specific range of transactions IDs to optimize for lower gas expenditure for claiming. The next two tabs shows loans that are currently open for this given pool, as well as loans that have been settled. Finally, the last tab shows us our LP history — after going through functions such as claiming buckets and adding/removing liquidity, each event should show up here. You can also view each distinct action on Etherscan by clicking on the the desired transaction.

And that’s it! This walkthrough has demonstrated the flow of both borrowing and lending on the MYSO v1 public testnet! We’re excited to hear your thoughts and feedback. Please make sure to try out both borrowing and providing liquidity on the platform and note any issues or changes that you think should be made!

**As an added bonus, we’ll also be running a giveaway for users to win cash prizes — a total of 12 winners, with 3 being eligible for a 500 USDC prize! To enter, go to this link: **https://giveaway.myso.finance/

The giveaway will run until the end of November (11/30 @ 23:59 UTC), so make sure to complete whatever steps you choose to be eligible!

Here, you’ll be able to enter your information and provide feedback, as well as follow MYSO on various channels to earn points to unlock rewards and win prizes! Everyone who participates in the public testnet is eligible to win, and the more steps you complete, the larger the prize you can win!

If you would like to provide your feedback without participating in the giveaway campaign, you can do so here: (https://form.typeform.com/to/OtKyVIJk). Your feedback is extremely important to us, as this will help us optimize the protocol to fit the community’s needs best.

We’ll also be including an exclusive sign-up to be waitlisted as a liquidity provider (LP) for Mainnet launch directly on the testnet — spots are extremely limited, and you’ll have until the end of November to apply to be considered for initial LP access!

We’re excited to have you all try out the testnet as we push closer to the Mainnet launch. Along with the completion of our security audit with Chainsecurity, these are crucial steps towards releasing Zero-Liquidation Loans to the forefront of DeFi!

Website | Twitter | Discord | Telegram

https://testnet.myso.finance/

Below, we’ve prepared a full step-by-step guide to get acquainted with the testnet, going over both a borrowers’ and liquidity providers’ perspectives.

At the end of this guide, you’ll see some detailed information about a giveaway we’ll be running to incentivize people to stress-test the protocol and provide feedback — we’re happy to give back to our community for telling us where to improve and sharing your thoughts!

Now, let’s dive into the public testnet and learn how to take out Zero-Liquidation Loans (ZLLs) and provide liquidity!

When first connecting to the testnet, we see a screen to connect your wallet. The testnet contracts are published on the Ethereum Goerli test network, so we need to make sure we are connected to this particular chain. The Goerli RPC details are registered automatically within your MetaMask or other popular wallet. Navigate to the “Networks” tab on the top of your wallet, scroll down and select “Goerli test network.”

To start interacting with the MYSO dApp, we first need some Goerli ETH. There are many faucets available online, but we recommend using the Chainlink Goerli faucet, which can be found here: https://faucets.chain.link/goerli — just type in your wallet address, link your Twitter, and send the request — Goerli ETH should arrive in your wallet within the next minute or so.

Once the testnet ETH arrives, click the faucet icon on the top right side of the MYSO dApp, which will open up a screen that allows you to to claim several tokens: PAXG, cUSDC, and wstETH. Make sure to mint each of the tokens as you will be using them for both providing liquidity and contributing collateral to take out ZLLs. Note: each address can only mint each token once per day.

Now, you’re ready to take out your first Zero-Liquidation Loan!

When going through the page for borrowing and providing collateral, there are two currently available options to start: Borrowing cUSDC by either putting up PAXG or wstETH as collateral.

Select the type of loan you want to take out and proceed by entering a pledge amount in the second step. Below, there are several featured loan pool options for both PAXG and wstETH collateral, each with a set of loan amounts, repayment amounts, and distinct APRs based on the amount of collateral you provide and chosen tenor period.

You are now able to take out your first Zero-Liquidation Loan! Navigate to the right side of the screen, where you’ll see a number of additional stats related to your loan, such as the loan expiry date, reclaimable collateral amount, and total fees associated with the borrow. You can also edit slippage tolerance for both your APR and loan amount by clicking the gear above the input fields.

Once you’re ready to take out the loan, hit the “Approve Then Borrow” button, which will authorize the MYSO borrow contract to access and use your collateral for the loan. Two wallet pop-ups will show up — the first of which is the approval, and the second being the loan transaction. Once you click confirm, you’ve taken out your first Zero-Liquidation Loan!

You’ll now be taken to the “Manage Loans” section of the dApp and will be able to see your currently open loans, as well as past loans. For currently open loans, you’ll be able to see information such as the Loan ID, borrow amount, loan expiry date, repayment amount, and amount of collateral that’s been put up. In addition, to view your loan transaction directly on a block explorer, simply press on the Loan ID or any other part of the loan statistics and it’ll bring up the tx information directly on Etherscan.

In the open loans section, you’ll also be able to repay the loan and retrieve your collateral. Once you’re ready to do this, just hit the “Repay” button on the right side of the screen. This will bring up a window that shows how much collateral you can reclaim, along with the amount of loan token that you have to repay to reclaim. Click “Approve and Repay”, which will bring up some wallet pop-ups for confirming both transactions.

Past loans, which include both those that were repaid or forfeited, are able to be viewed in the “Past Loans” section of the “Manage Loans” menu selection. Here, we can see detailed information about our past ZLLs, including the Loan ID, the status of the loan (either repaid or forfeited), the time of repayment/forfeiture, as well as the borrow, repayment, and collateral amounts. As with currently open loans, you are able to view the loan transaction directly on Etherscan as well by clicking on any of the loan statistics.

Now, let’s take a look at the process of being a liquidity provider (LP) on MYSO and providing liquidity to a pool!

When clicking the “LP” selection at the top of the dApp, we are taken to the “All Pools” page. Here, we are able to see the currently available pools into which we are able to provide liquidity. Each pool is designated with the associated loan currency and collateral currency, as well the total liquidity, current yield APR, loan tenor period, current LTV, max loan per collateral unit, and last 24hr loan volume. Note that the APR for each pool might changed based on utilization and liquidity.

Let’s say you want to provide liquidity to the top-most pool (cUSDC/PAXG) — this pool allows you to supply cUSDC liquidity and earn a yield, which is currently ~15% APR. Click the “View” button, which will bring up a detailed screen with detailed information regarding the pool, as well as your positions within the pool.

Now, let’s provide some liquidity to this pool. Enter the amount of cUSDC liquidity you want to provide, then click the “Approve Then Add” button — this will allow the MYSO contracts to use your cUSDC and subsequently add your cUSDC liquidity into the pool. This page will also feature the post-add pool APR, which should naturally become lower as liquidity in a pool increases.

Once your provision transaction goes through, the “Liquidity Composition” graphic should fill up with a black circle, indicating that whatever liquidity you’ve provided is now available for loans. This should initially make up your entire liquidity composition until someone takes a loan from the pool.

The first tab on the** **lower part of the screen shows your “Claimable Buckets”, which allow you to claim loan repayments over a specific range of transactions IDs to optimize for lower gas expenditure for claiming. The next two tabs shows loans that are currently open for this given pool, as well as loans that have been settled. Finally, the last tab shows us our LP history — after going through functions such as claiming buckets and adding/removing liquidity, each event should show up here. You can also view each distinct action on Etherscan by clicking on the the desired transaction.

And that’s it! This walkthrough has demonstrated the flow of both borrowing and lending on the MYSO v1 public testnet! We’re excited to hear your thoughts and feedback. Please make sure to try out both borrowing and providing liquidity on the platform and note any issues or changes that you think should be made!

**As an added bonus, we’ll also be running a giveaway for users to win cash prizes — a total of 12 winners, with 3 being eligible for a 500 USDC prize! To enter, go to this link: **https://giveaway.myso.finance/

The giveaway will run until the end of November (11/30 @ 23:59 UTC), so make sure to complete whatever steps you choose to be eligible!

Here, you’ll be able to enter your information and provide feedback, as well as follow MYSO on various channels to earn points to unlock rewards and win prizes! Everyone who participates in the public testnet is eligible to win, and the more steps you complete, the larger the prize you can win!

If you would like to provide your feedback without participating in the giveaway campaign, you can do so here: (https://form.typeform.com/to/OtKyVIJk). Your feedback is extremely important to us, as this will help us optimize the protocol to fit the community’s needs best.

We’ll also be including an exclusive sign-up to be waitlisted as a liquidity provider (LP) for Mainnet launch directly on the testnet — spots are extremely limited, and you’ll have until the end of November to apply to be considered for initial LP access!

We’re excited to have you all try out the testnet as we push closer to the Mainnet launch. Along with the completion of our security audit with Chainsecurity, these are crucial steps towards releasing Zero-Liquidation Loans to the forefront of DeFi!

Website | Twitter | Discord | Telegram