Can XVS be used as collateral for borrowing other cryptocurrencies on the Venus Protocol?

Can XVS be used as collateral for borrowing other cryptocurrencies on the Venus Protocol?

Blog Article

Yes, XVS can be used as collateral within the Venus Protocol to borrow other cryptocurrencies. By providing XVS as collateral, users can access loans in various digital assets without having to sell their XVS holdings. This feature is a significant advantage for users looking to leverage their holdings while still maintaining their governance rights. As the value of XVS fluctuates, the amount of collateral required to secure loans may change, making it important to monitor the price regularly.