BTCS borrows additional USDT 10 million on Aave, lifting total DeFi loan to about USDT 53 million - BTCS News | RalliesBTCS borrows additional USDT 10 million on Aave, lifting total DeFi loan to about USDT 53 million
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BTCS• BTCS increases Aave borrowing to about USDT 53 million
- BTCS raised an additional USDT 10 million loan on Aave on Aug. 21, taking total Aave borrowings to about USDT 53 million.
- Borrowing is backed by about 46,531 ETH valued at about $112.6 million at an ETH price of $2,420.
- The facility has no fixed maturity. Liquidation risk triggers if the Aave health factor falls below 1.
- The variable interest rate was about 3.98% a year at the time of the new borrowing.
- Proceeds were used to buy additional ETH and USDC. USDC was deployed into liquidity pools via Imperium.
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