Entangle is thrilled to announce its partnership with Myso, a permissionless borrowing and lending protocol.
This collaboration will see the integration of Entangle’s Liquid Staking Derivatives (LSDs) with Myso, thereby enhancing ecosystem-wide liquidity and increasing user yields. LSDs, facilitated through Entangle’s Liquid Vaults application, represent wrapped and composable versions of yield-bearing assets, such as LP tokens.
Myso and Entangle
Myso operates as a borrowing and lending platform on the Ethereum network, as well as being available on Mantle, Base, Arbitrum, and more. Myso stands out amongst other lending protocols thanks to its unique features such as non-liquidatable loans, custom loan creation for any loan pair, oracle-free pricing, and the wide acceptance of numerous collateral types.
The partnership between Myso and Entangle will enable the integration of Entangle’s LSDs with Myso’s platform, facilitating cross-protocol collateralization of yield-bearing assets.
In practice this means that users can convert their LP position on Ethereum, or another supported network, into an LSD. Subsequently, it could be lent out on Myso, enabling the holder to earn not only on their underlying LP position but also on their lent assets. They could then leverage their lent assets as collateral to borrow funds from Myso, further enhancing their yield.
This integration offers significant advantages for both Myso and its users. For Myso, it fosters enhanced composability within the broader DeFi landscape and expands the range of accepted assets, promoting greater liquidity sharing across the ecosystem. Additionally, it strengthens platform liquidity, incentivizing retention and attracting a larger user base.
On the user side, participants in DeFi can optimize their capital efficiency through asset refinancing while continuing to earn from their underlying positions. As more protocols adopt Entangle’s LSDs, users will benefit from ever broader capabilities from their yield-bearing assets.
DeFi is rapidly progressing towards a unified, interoperable ecosystem where liquidity flows seamlessly from one protocol to the next. The collaboration between Myso and Entangle represents a significant advancement in this direction, enhancing the utility of yield-bearing assets. This enhances liquidity and composability for Myso, while increasing capital efficiency and yield for users.