- wstETH as Collateral for Borrowing lisUSD
- Technical Features and Exchange Process
- Integration Prospects and Future
In a significant development for the decentralized finance (DeFi) sector, Lista DAO has announced that Lido Finance’s wstETH will now be available as a collateral option for borrowing lisUSD. This update is significant for both platforms as they seek to improve their financial positions and open new possibilities for users.
wstETH as Collateral for Borrowing lisUSD
When investing in wstETH through Lista DAO, users can access lisUSD while maintaining their Ethereum staking rewards. This new feature is expected to enhance asset utilization efficiency and diversify financial instruments for DeFi participants. Specific features include a collateralization rate of 150%, a borrowing rate of 7%, and a minimum deposit amount of 0.1 wstETH to ensure platform stability.
Technical Features and Exchange Process
To use wstETH as collateral, customers need to swap stETH for Binance Smart Chain (BSC). The process involves selecting Ethereum as the network and wstETH as the asset in the “From” field, and BNB Chain as the network in the “To” field. Users need to connect their wallets to both networks, input the amount of wstETH to transfer, and confirm the transaction.
Integration Prospects and Future
The addition of wstETH as a collateral option will open new horizons for the DeFi ecosystem. Integrating staking rewards and borrowing is designed to improve usability and attractiveness of the Lista DAO platform. Future developments include adding new services and integrating with other well-known DeFi applications.
The integration of wstETH into Lista DAO is a significant step for both platforms, opening up new possibilities in the DeFi space and enhancing financial freedom for users.
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