DeFi Protocol dForce Now Accepts Arbitrum Token ARB As Lending Collateral
According to reports, the DeFi protocol dForce has supported the Arbitrum token ARB as lending collateral, with a maximum loan to value ratio (LTV) set at 80%.
DForce has supported
According to reports, the DeFi protocol dForce has supported the Arbitrum token ARB as lending collateral, with a maximum loan to value ratio (LTV) set at 80%.
DForce has supported ARB as lending collateral
Decentralized finance protocols, commonly referred to as DeFi, have become a major trend in the world of cryptocurrencies. More and more investors are turning to DeFi as a way to earn higher returns on their investments in a trustless and decentralized manner. In recent news, the DeFi protocol dForce has announced that it will now support the Arbitrum token ARB as lending collateral, with a maximum loan to value ratio (LTV) set at 80%.
What is DeFi?
Before we dive into what dForce and Arbitrum are, let’s first understand what decentralized finance (DeFi) is. Simply put, DeFi refers to a financial system built on top of blockchain technology. Unlike traditional finance, which relies on centralized institutions such as banks and governments to manage transactions and regulate markets, DeFi is open to anyone with an internet connection. Transactions are verified by a network of nodes, and funds are stored in smart contracts on the blockchain, eliminating the need for intermediaries.
What is dForce?
dForce is a DeFi protocol built on the Ethereum blockchain. It offers a range of financial services such as lending, borrowing, and trading. dForce’s lending platform, Lendf.me, allows users to lend and borrow cryptocurrencies without the need for intermediaries. The platform supports various tokens including stablecoins such as USDT and USDC, as well as governance tokens like COMP and LEND.
What is Arbitrum?
Arbitrum is a Layer 2 scaling solution for Ethereum. It aims to solve some of Ethereum’s scalability issues by offloading transactions to a secondary network. This network, called the Arbitrum Rollup, provides fast and cheap transactions with the same level of security as the Ethereum mainnet. The Arbitrum Rollup is compatible with Ethereum smart contracts, meaning that any DApp built on Ethereum can be deployed on Arbitrum with minimum modifications.
How Does dForce’s Support for ARB Impact the DeFi Ecosystem?
dForce’s decision to support ARB as lending collateral is significant for several reasons. First and foremost, it increases the liquidity of the ARB token. Liquidity is a critical factor in any market, and by allowing ARB to be used as collateral for loans, dForce is making the token more attractive to investors. This could lead to increased demand for ARB, driving up its price.
Secondly, dForce’s support for ARB is a testament to the growing popularity of the Arbitrum Rollup. As more DeFi protocols adopt Arbitrum, investors will be more likely to buy ARB as they will be able to use it in various applications built on the Arbitrum Rollup.
Lastly, it demonstrates dForce’s commitment to expanding its lending platform. By supporting more tokens as collateral, dForce is making its platform more attractive to investors who hold a variety of tokens. As the DeFi market continues to grow, platforms like dForce will need to keep up with the demand for new lending and borrowing options.
Conclusion
dForce’s decision to support ARB as lending collateral is a significant step in the evolution of the DeFi ecosystem. By increasing liquidity for the ARB token, supporting the growth of the Arbitrum Rollup, and expanding its lending platform, dForce is positioning itself as a leader in the DeFi space. As more DeFi protocols adopt new tokens and expand their offerings, we can expect to see continued growth in the DeFi market.
FAQs
Q1: What is the maximum loan to value ratio (LTV) for ARB on dForce’s lending platform?
A1: The maximum LTV for ARB on dForce’s lending platform is 80%.
Q2: Can I lend ARB on dForce’s lending platform?
A2: Yes, you can lend ARB on dForce’s lending platform, along with a range of other tokens.
Q3: What is the Arbitrum Rollup?
A3: The Arbitrum Rollup is a Layer 2 scaling solution for Ethereum that provides fast and cheap transactions with the same level of security as the Ethereum mainnet.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/14880/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Ethereum Layer 2: Understanding the Current Lockup Volume
According to reports, according to L2BEAT data, the current total lockup volume of Ethereum Layer 2 has dropped to $8.79 billion, with a 7-day increase narrowing to 0.80%.
The tota -
Patientory Secures US $1.5 Million Financing for Blockchain Health Data Service
It is reported that Patientory, a blockchain health data service company, has announced the completion of US $1.5 million financing, and Arlan Hamilton, Colorado Permanente Medical
-
#Severe Punishment for “Two Cards”-Related Crimes in Hefei
It is reported that according to the official account of Hefei police, the Hefei Intermediate People\’s Court, the Hefei People\’s Procuratorate and the Hefei Public Security Bureau
-
Coinbase Expects Regulatory Focus in 2023
According to the report, Coinbase, the cryptocurrency exchange, said that we expect 2023 to be the year of regulatory focus. We believe that our strong foundat…
-
Polygon Aims to Become Mainstream with its Ethereum-based Layer 2 Blockchain
According to reports, Sandeep Nailwal, co founder of Polygon, stated that Ethereum based Layer 2 blockchain Polygon is focused on becoming mainstream. Polygon\’s mission has always
-
Upgrading to Ethereum Client Prysm Version 4.0.2: Ensuring Safe and Secure Interactions
On April 13th, according to official Twitter, the Ethereum client Prysm has released version 4.0.2, which includes fixing serious vulnerabilities in the interaction between the val
-
What does a famous coin circle mean? (Who are the famous characters in the coin circle?)
What does a famous coin circle mean? According to Bitcoin. com, what does a famous coin circle mean? While the price of Bitcoin keeps rising, various Cryptocurrency also emerge in endlessly. For example, Ethereum is the most famous digital asset. It not only has a high transaction volume, but also can be widely accepted by others as a means of payment In addition, some popular blockchain projects include Bitshare, Wright Mining, EOS, etc. Among them, Wright stock is currently one of the top three virtual currencies in terms of market value. EOS is a very popular and promising application scenario Who are the well-known figures in the currency circleAccording to the public information of the currency circle, the total market value of the Cryptocurrency market has exceeded $3 trillion in the past year. Among them, the market value of Ethereum is up to 4 trillion yuan (1.8 trillion US dollars), followed by Litecoin, Bitcoin and Monero, ranking fourth and fifth…
-
SPACE ID 2.0 – The Future of Web3 Domain Names and Identity
On February 15, the beta version of the decentralized domain name agreement SPACE ID 2.0 was officially launched. SPACE ID 2.0 provides a one-stop Web3 domain …
-
US Stock Market Surges with Positive Futures
According to reports, the market showed that the three major stock index futures of the US stock market rose, the Dow index futures rose 1.2%, the Dow index futures rose 1.7%, and the S&P 500 index rose 1.6%. Futures of the three major US stock indexes rose, and the S&P 500 index rose 1.6% Analysis based on this information:Recent reports have shown a promising surge in the US Stock market. According to the experts, the three major stock index futures of the market have been predicted to haul a bullish trend. The Dow index futures have surged by 1.2%, while the Dow index features surged by 1.7%. Moreover, the S&P 500 index has shown a significant rise by 1.6%. The rise of US stock futures indicates a positive trend in the market, suggesting that the economy is regaining its momentum, and investors are regaining confidence in the stock market. The increase in stock index futures signifies a possible rise in…
-
#zkSync Era Network Goes Down: A Post Mortem Analysis
According to reports, zkSync officially tweeted that the zkSync Era network was down from 07:52 to 12:02 Beijing time. Officials will soon provide the community with a post mortem
-
Binance Launchpad will open EDU trading at 20:00 today
According to reports, according to official sources, Binacne Launchpad opened the Open Campus (EDU) investment channel at 14:00 Beijing time on April 28, 2023. This Launchpad adopt
-
The Boring Ape’s HV-MTL #3 in the New NFT Series Sets Record High Transaction
According to reports, according to NFTGo data, the HV-MTL # 3 in the new NFT series HV-MTL cast by \”Boring Ape\” BAYC \”Summon\” has closed at a price of 51.69 ETH, approximately $937
-
#Oracle Machine Project Python Network Launches new SNX/USD Pricing
On April 22, it was reported that the oracle machine project Python Network announced the launch of SNX/USD pricing, which has supported more than 18 blockchains.
Python Network An -
Meta Platform to Divest Kucustomer: A Move to Refocus on Core Business
According to reports, Meta Platform and people familiar with the matter said that the company planned to divest Kucustomer, a commercial software company acqui…
-
Circle CEO: USDC has become stronger and safer due to the US banking crisis
According to reports, Circle CEO Jeremy Allaire stated that the USDC stable currency has emerged from the US banking crisis in March, becoming stronger and safer. Jeremy Allaire st
-
What currency did x3 dig (which platform is x3)
x3 Dig what currency According to the official website of x3 Dig what currency, X3 uses smart contracts to cross chain assets and achieve decentralized digital currency transactions According to the data released by the project team, more than 1 million addresses are currently using x3 to participate in Ethereum and EOS ecosystems through smart contracts, including x3, x2rms, c3r, eosioprotocol, eosfomo and other tokens. According to the official of x3, this protocol will provide users with a seamless and secure opportunity to exchange Cryptocurrency (such as ETH/WBTC). Which platform is x3Which platform is x3? It is a completely decentralized Ethereum based protocol. Users can create and trade various Cryptocurrency on this platform, and earn interest by using XTZ tokens x3 currently supports the following types of tokens: 1. USDT: used to manage borrowing and lending of digital assets (such as US dollars or euros) 2. BTC/USDC: 1 x 3 Stablecoin 3. 3 BTCs=1 Bitcoin 4, 5 ETH=100 x 3…