Is it possible to use my tokens as collateral in lending platforms ?
Yes, it is possible to use LEO tokens as collateral in lending platforms.
The LEO token is an ERC-20 token built on the Ethereum blockchain, which means that it can be used as collateral in decentralized lending platforms such as Compound and MakerDAO. By using LEO tokens as collateral, users can borrow other cryptocurrencies such as ETH or DAI and use them for various purposes. In addition, users can also use their LEO tokens to earn interest on their holdings by depositing them into a lending platform.
This allows users to earn passive income from their holdings without having to sell them. Furthermore, users can also take out loans against their LEO tokens and use the funds for various purposes such as trading or investing in other projects. Overall, the ability to use LEO tokens as collateral in lending platforms provides users with a great way to increase their liquidity and access additional funds without having to sell their holdings.
