We have an update for JLP loans:
All available USDC was borrowed within the first 24 hours of launch.
Users are embracing the innovative approach to DeFi lending, which has created a new use case for their JLP.
While most protocols rely on forced liquidations through market selling, JLP is natively backed by a pool of assets â meaning that the JLP itself is burned in the event of a liquidation.
The result is a more sustainable situation for everyone involved, with users enjoying the fact that they can borrow liquidity against their already yield-bearing JLP.
Over the next week, we will allow more USDC for borrowing, while carefully limiting it to ensure there is more than enough liquidity for perp traders.
If you're interested, stay tuned for the upcoming announcement.
Borrow USDC against your JLP.
Introducing: JLP Loans.
Access liquidity while still earning yields. Here's how it works đ§”...
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