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MYSO goes live on the Arbitrum Goerli Testnet for L2 expansion

DeFi

www.cryptonewsz.com 25 January 2023 08:35, UTC
  
Reading time: ~2 m

MYSO recently announced going live on the Arbitrum Goerli Testnet. The DeFi protocol released a string of tweets on its official channel about the launch.

According to the tweets, Arbitrum users can now access Zero-Liquidation loans from MYSO Finance. The move falls in line with MYSO’s attempts to expand its Layer 2 expansion. The DeFi community has been asking about the protocol to execute this launch for a while.

Now that MYSO is live on the testnet, users can access the wETH / USDC pool. The pool is available on testnet.myso.finance, and every Arbitrum user can leverage it. The DeFi protocol even asked users for more feedback in regard to tokens that need to be added.

These tokens will be made available for borrowing and collateral purposes. Any DAO or project member on Arbitrum can suggest new use cases for the platform. If everything goes well, MYSO is set to launch the Zero-Liquidation Loans on the mainnet as well.

Ever since its official launch on Ethereum mainnet, MYSO has been dishing out new updates. The platform was audited by ChainSecurity back in October 2022, only months after the platform won the ETHOnline Hackathon.

Names like Huobi, Advanced Blockchain AG, GSR, Nexo, etc., are backing the DeFi protocol. A major reason behind this support is MYSO’s unique value proposition. The platform is trying to build a fixed-interest, oracle-free, and liquidation-free borrowing solution.

Despite launching its mainnet on January 10th, MYSO was quick to release v1.1 with improved efficiency and a new pool, RPL / USDC. It did not take long for the protocol to add the RPL / rRTH pool. Seeing how the protocol has been addressing user demands, it is establishing a loyal user base.


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