Main Street Foundation

Institutional Yield for Everyone - Democratizing the Options Box Spread onchain, with $msY.

[Main Street @Main_St_Finance]

msY Portfolio & Redemption Update

We want to provide a clear update on the current msY portfolio, the remaining box-spread maturity profile, and the path forward for restoring liquidity to the minter.

As previously communicated, the msY box-spread strategy began approaching capacity in its original short-duration Deribit execution environment. In response, Main Street expanded execution across additional centralized venues and OTC box-spread counterparties in order to continue optimizing risk-adjusted yield for holders and avoid forcing new capital into increasingly compressed shorter-dated opportunities.

As part of that expansion, certain OTC box-spread opportunities were executed at longer maturities than the initial short-duration target range. Following the unwind of the shortest-dated and most liquid positions during the initial phase of the Morpho market squeeze, the remaining portfolio now consists of boxes with approximately 60 to 340 days remaining to expiry. The remaining book is therefore naturally more concentrated in the medium-to-longer dated part of the maturity ladder, because the shortest-dated liquidity was used first to support the minter and reduce near-term pressure.

Importantly, this does not change the core economics of the strategy. These are fixed-payoff box-spread positions. If held to expiry, and assuming the relevant venue or counterparty performs, the positions accrete toward their known maturity value. The current situation is therefore primarily one of timing, secondary-market liquidity, and redemption pacing; not a change in the expected terminal payoff of the portfolio.

Current portfolio position:
Current CR, assuming boxes are held to expiry: 100.04%
Insurance fund: $525,527 in msUSD
Insurance fund treatment: if required, the msUSD held in the insurance fund can be burned, increasing protocol coverage
Coverage including the insurance fund: above 100%

Our priority is to preserve full backing and avoid crystallizing unnecessary losses. We are actively exploring opportunities to unwind or sell selected boxes where executable pricing is available and where, after taking into account the insurance fund and any applicable protection mechanisms, the system remains above 100% coverage. Where that threshold can be met, we intend to take those opportunities and use the proceeds to continue refilling the minter.

We do not expect that every remaining box necessarily needs to be held all the way to expiry. As boxes move closer to maturity, the discount between secondary-market pricing and maturity value should naturally compress, which can create further opportunities to exit closer to NAV without impairing coverage. This means liquidity can be restored progressively through a combination of scheduled expiries and selective secondary-market unwinds where pricing is acceptable.

Where secondary liquidity is not available on acceptable terms, we will continue following the approach outlined in our risk framework: allow box positions to mature, release liquidity as expiries occur, and refill the minter as capital becomes available.
Selling fixed-payoff positions at distressed marks simply to accelerate liquidity would be value-destructive for holders. Waiting for better execution, selectively unwinding where coverage remains above 100%, and using the insurance fund as intended gives the protocol the strongest path to preserve backing and restore liquidity in an orderly way.

This is a timing and execution-management issue, and the portfolio remains structured around fixed-payoff positions that accrete toward maturity value. We are confident in the path forward and will continue to provide updates as liquidity is released, boxes are unwound, and the minter is refilled.

Our focus remains unchanged: preserve NAV, protect holders, avoid uneconomic liquidations, maintain coverage, and work through the maturity ladder in the most responsible way possible.

[Main Street @Main_St_Finance]

"Space what? IP who? What are you on about?

The only thing rocketing is the yield you're earning from Main Street Finance.

btw that'll be $20,000. We accept $msUSD."

[Main Street @Main_St_Finance]

Welcome to Main Street, where:

> Yield does not depend on market sentiment or funding rate cycles
> TVL grew 15%/30d while perp funding basis traders bled
> Ample room for growth before any yield compression
> Gamma points szn

Institutional yield for everyone.

[Main Street @Main_St_Finance]

Reads like the makings of a great portfolio.

Only suggestion: more Main Street 💪

[Main Street @Main_St_Finance]

Intern has been staring at this $msY live yield tracker by @stablewatchHQ for 20 minutes. We're not going to stop them.

To date, Main Street has delivered $1.77M worth of yield.

[CryptoDep @Crypto_Dep]

⚡️ Stablecoins by Monthly Supply Growth

Total stablecoin market cap at $314B, up $590M (+0.17%) MoM.

@Gate USD leads supply growth at +86.9%, followed by apxUSD (+56.8%) and USDTB (+54.1%). USDe is the largest in the set at $4.51B with steady +11.8% growth.

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[Main Street @Main_St_Finance]

Main Street has no place for banks, but security and accountability is non-negotiable.

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[Main Street Foundation @MainST_FDN]

New business cards have arrived! 💙

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[Main Street Foundation @MainST_FDN]

@mentalhealth Hi everyone!! Just wanted to share my very first blog with you!

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I hope you find it useful and I welcome any feedback !

Thanks, take care, and keep well - Russ

https://t.co/Gegkmluthp

[Main Street Foundation @MainST_FDN]

My first blog has been published!

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Take a look and let me know what you think 🙏

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[Main Street Foundation @MainST_FDN]

SMILE AND THE WHOLE WORLD SMILES WITH YOU! 😃 Smiling can reduce stress and help heart health by lowering blood pressure. If you see someone without a smile today, give them one of yours!😃

Photo taken during one of my apprentice workshops 😁 Happy Tuesday!

#Safeandsound

[Main Street Foundation @MainST_FDN]

You deserve the best!

[Main Street Foundation @MainST_FDN]

Asking for help can be hard to do, but experience shows that fear of asking, is almost, always, greater than the reality of actually asking!

What's stopping you?

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[Main Street Foundation @MainST_FDN]

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[Main Street Foundation @MainST_FDN]

What you think, and how you respond is everything,

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Have a great weekend my friends 💙

#safeandsound #tips #tools #techniques #Mindset

[Main Street Foundation @MainST_FDN]

Have you heard of the Danish word ' Hygge'

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Just how I feel working on my new website tonight, with this baby roaring in front of me!

It's not work, I'm following my dreams!

Are you following yours?

#Safeandsound

[Main Street Foundation @MainST_FDN]

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[Terence Monaghan @TerenceMonagha2]

In Bury a switched on police officer (veteran) attended to a homeless man saw he was a vet took him to McDonald’s fed him took him to hospital referred to @OpNOVA_UK veteran will now be accommodated thanks to @HeroesCic , he’s been homeless for 6 months result @InsJimJones .

[Main Street Foundation @MainST_FDN]

Simple but true

[PopSmoke UK @PopSmokeUK]

“No amount of anxiety can change the future. No amount of regret can change the past.”

#anxietyrelief #anxiety #mentalhealth

[Main Street Foundation @MainST_FDN]

No act of kindness is ever wasted.

Small things matter...a lot!

#Safeandsound #wellbeing #military #veteran #support

[Main Street Foundation @MainST_FDN]

Quite a lot's happened since I was last here!!

My wellbeing work has gone from strength to strength 👍

I published my first book!
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And I grew a beard!

Have a great #Wednesday my friends.!

#Safeandsound
#WednesdayMotivation