TheStandard.io has joined forces with SushiSwap to introduce SUSHI as a novel collateral option within their smart vaults. This strategic alliance not only broadens the collateral choices available to users but also promises to enhance liquidity and bolster community engagement across the decentralized finance (DeFi) sector.
The incorporation of SUSHI into TheStandard.io’s smart vaults presents a more diverse range of collateral possibilities. Users can now pledge SUSHI along with other established assets such as WBTC, ETH, ARB, LINK, GMX, RDNT, and PAXG, offering greater flexibility in managing their collateral portfolios and aligning with their investment preferences and risk tolerance.
We’ve collaborated with @SushiSwap to introduce SUSHI as a new collateral option on https://t.co/xdprycBt76’s smart vaults!
Further diversifying collateral options plus a new use case for SUSHI token holders.
Learn more in our blog post: https://t.co/w1CXEj5vKF
Start… pic.twitter.com/cA269G1M4F
— TheStandard.io (@thestandard_io) April 17, 2024
Enhanced Liquidity and Engagement
By adopting SUSHI as an accepted collateral, TheStandard.io is set to increase its platform’s liquidity, providing additional borrowing opportunities. This boost in liquidity not only benefits the users directly but also strengthens the protocol’s overall stability and functionality. Furthermore, the integration fosters greater community involvement by attracting new users and engaging current participants more deeply within the ecosystem.
The integration of SUSHI is a significant step forward for both TheStandard.io and the DeFi community at large. It signifies a commitment to expanding user options, enhancing platform utility, and nurturing the growth of a vibrant community. As the collaboration unfolds, the benefits are expected to ripple through the ecosystem, underpinned by SushiSwap’s established reputation and considerable Total Value Locked (TVL) in the DeFi space.
Sourced from cryptonews.net.
