Aave will support METIS tokens as collateral

ChainCatcher news, the DeFi lending protocol Aave has announced that it will support METIS tokens as collateral on the Metis network. This strategic move will expand the utility of METIS tokens and enhance the capital efficiency for Aave users.

According to the announcement, Aave will offer a loan-to-value ratio (LTV) of 30% for METIS tokens, meaning users can borrow assets equivalent 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%) of other assets.

Users will be able to use METIS as collateral to borrow the following assets: USDT, USDC, DAI, and ETH.