Main Street Protocol Approaches 100% Coverage Ratio, Plans Public Market Buybacks in ~30 Days

According to Foresight News, Main Street's protocol coverage ratio has approached 100% at current valuations, excluding insurance fund reserves. The team plans to launch public market token buybacks and permanent burns in approximately 30 days, once remaining positions' liquidity materializes and market conditions permit. The team initially ruled out early redemptions or large-scale buybacks following legal consultation, citing coverage ratio concerns.

Simultaneously, the official team is designing a Morpho redemption mechanism that limits transfers of msY within affected Morpho contracts and introduces a dedicated redemption process to prevent first-come-first-served disadvantages and excessive cumulative interest accrual. The design remains subject to final legal, technical, security review and independent audit.