According to BlockBeats, on August 22, DeFi lending protocol Aave announced its support for the METIS token as collateral on the Metis network. This strategic move aims to enhance the utility of the METIS token and improve capital efficiency for Aave users.
As per the announcement, Aave will offer a 30% loan-to-value (LTV) ratio for METIS tokens. This means users can borrow assets equivalent to 30% of the total value of their METIS collateral. For instance, if a user provides $100 worth of METIS as collateral, they can borrow up to $30 in other assets.
Users will be able to use METIS as collateral to borrow assets such as USDT, USDC, DAI, and ETH.
