Polkadot’s vDOT Hits $2.2M Hydration Cap in 15 Hours
$DOT Singapore, Singapore, January 10th, 2025, Chainwire
Bifrost has announced that vDOT, Polkadot‘s largest liquid staking token (LST), has been listed as a collateral asset on Hydration Money Market. Within 15 hours of opening deposits and borrows, vDOT reached the supply cap of 220K and surpassed $2.2 million in Total Value Locked (TVL) pushed by DOT leveraging demand.
The integration of vDOT into Money Market allows for new strategies for Polkadot’s DeFi participants: By staking Polkadot (DOT), participants receive vDOT, which can be used as collateral to borrow additional DOT. This process allows for the possibility of repeating the cycle to explore strategies aimed at optimizing returns.
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