Aave to support METIS tokens as collateral
DeFi lending protocol Aave announced that it will support the METIS token as collateral on the Metis network. This strategic move will increase the utility of the METIS token and improve the capital efficiency of Aave users.According to the announcement, Aave will provide a loan-to-value (LTV) ratio of 30% for the METIS token, meaning that users can borrow assets worth up to 30% of the total value of their METIS collateral. For example, if a user provides $100 worth of METIS as collateral, they can borrow up to $30 (30%) worth of other assets.Users will be able to use METIS as collateral to borrow the following assets: USDT, USDC, DAI, and ETH.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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