How can LQTY be used in decentralized finance (DeFi) applications?

3 answers

• Dec 24, 2021 · 3 years ago
  LQTY can be used as collateral in DeFi applications to borrow other cryptocurrencies or stablecoins. This allows users to access liquidity without selling their LQTY holdings. By locking up LQTY as collateral, users can borrow assets and participate in various DeFi protocols such as lending, yield farming, or decentralized exchanges. It provides flexibility and enables users to leverage their LQTY holdings to maximize their returns in the DeFi ecosystem.
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• Dec 24, 2021 · 3 years ago
  In decentralized finance (DeFi) applications, LQTY can be staked to earn passive income. By staking LQTY, users contribute to the stability of the protocol and are rewarded with LQTY tokens. These rewards can be reinvested or sold for other cryptocurrencies. Staking LQTY not only helps secure the network but also allows users to earn additional tokens as an incentive for their participation.
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• Dec 24, 2021 · 3 years ago
  BYDFi, a decentralized finance platform, supports the use of LQTY in its ecosystem. Users can stake LQTY on BYDFi to earn rewards and participate in various DeFi activities. BYDFi provides a user-friendly interface and a wide range of DeFi services, making it a popular choice for LQTY holders to engage in decentralized finance.
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