sUSD is now available for lending and borrowing through bZx!
You can now lend and/or borrow sUSD through bZx's dApps, Fulcrum and Torque!
We are excited to announce that sUSD is now available for lending on Fulcrum and borrowing on Torque! Both dApps are enabled by bZx, a protocol for tokenized margin trading and lending, and sUSD was chosen after winning a bZx community vote on Twitter:
🚨Vote for the next asset that would be listed at our #defi margin trading platform https://t.co/vgPuB6AgoD @makerdao $MKR, @DigixGlobal $GDX, and @synthetix_io $sUSD at our shortlist, help us to choose what token we should add on Fulcrum 👇
— bZx (@bzxHQ) November 12, 2019
Allowing sUSD to be lent and borrowed provides another method for new traders to begin using Synthetix.Exchange. They will be able to start trading Synths by locking another asset as collateral. Then, once they have finished trading (hopefully with profit), they can unlock their collateral while keeping their trading profits.
This integration is also beneficial for SNX stakers. Firstly, they can lend out the sUSD they’ve minted in exchange for yield. Secondly, they can borrow sUSD to correct their Collateralization Ratio if they wish to correct their ratio without surrendering their assets.
bZx offers two separate, easy-to-use dApps for lenders and borrowers. Fulcrum is bZx’s non-custodial margin trading platform for lenders, which allows users to lend cryptocurrency for interest and trade both short and leveraged positions of digital assets up to 4x with no fees. Individuals looking to borrow sUSD can do so using Torque, bzX’s decentralized borrowing platform offering fixed-rate, indefinite-term loans.
To learn more about the bZx Network, visit their website or join their Telegram.