Loopscale launches Deposit-Backed Lending; Jupiter lending positions can be used as collateral
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Foresight News reported that the Solana-based lending protocol Loopscale announced on Twitter that Deposit-Backed Lending is now officially live. Users can now use their Jupiter Lend loan positions as collateral to borrow on Loopscale. Key features include: depositing JUICED (Jupiter Lend JupUSD deposits) into Loopscale to earn leveraged lending yields; using JUICED and jlWSOL as collateral to borrow USDC, jupUSD, or SOL; and lending jupUSD.
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