Boosting DeFi with $USDe, FBTC, mETH, and wETH Collateral
The post Boosting DeFi with $USDe, FBTC, mETH, and wETH Collateral appeared on BitcoinEthereumNews.com.
In the decentralized finance (DeFi) sector, Mantle Network has stirred the market with the inclusion of Compound III into its network. This partnership is a major development in improving borrowing and lending on Mantle and offering users new collateral choices and a secure environment for obtaining them. The Collaboration Explained The addition of Compound III introduces Ethena Labs’ $USDe as the base asset to the Mantle Network, along with collateral options such as FBTC (Ignition), mETH, wETH (mETHProtocol). This makes it possible for users of Mantle to provide collateral by borrowing securely against these assets while being exposed to Ethereum (ETH) and Bitcoin (BTC). It will also become easy for the Mantle DeFi platform to use Compound’s simple lending mechanism to enhance the DeFi lending experience for its users. Commitment to Safety and Integrity Mantle Network noted that the fact that Compound was well known within the industry as being safe and secure was instrumental in the partnership between the two organizations. “Compound has a strong track record of upholding the highest standards of safety,” Mantle said when it released the announcement. This partnership aligns with Mantle’s core principles of preserving DeFi assets’ sanctity so people can engage without worry. Incentives to Drive Adoption To bolster user engagement and adoption, Mantle Network has committed significant resources, including: Deploying $USDe $10 million for supply-side Treasury liquidity. $1 million of $MNT incentives to encourage the users to interact with the application or support to expand the ecosystem. These incentives not only increase liquidity and efficiency but also help attract investors and make Mantle Network relevant for both new and experienced users of DeFi. Strong Initial Performance The $USDe market on Mantle has already shown impressive results since the integration, with: A 91.34% utilization rate Net Earn APR of 8.35% Net Borrow APR…
