Meow Protocol Overview
- What is Meow Protocol?
Meow Protocol is a Decentralized Finance (DeFi) lending and borrowing protocol with a focus on offering a variety of asset categories within Ethereum and Scroll network. Users will get derivative tokens called mTokens upon depositing or supplying assets.
- Main Features
- Audited by the top security companies in the Scroll ecosystemMeow Reputation systemPermissionless
Related Apps
LayerBank is a DeFi platform for borrowing, lending, and swapping crypto across different blockchains.
A lending product allowing permissionless under-collateralized loans of up to 300% of their collateral.
A multi-chain platform designed to manage assets across various DeFi ecosystems in one place.
Frequently asked questions
Upon deposit and redemption, the interest-bearing derivative tokens, known as mTokens, are minted and burned. The value of the mTokens, which are safe to store, transfer, and exchange, is fixed at a 1:1 ratio to the value of the matching deposited asset. By steadily raising their wallet balance, mToken holders receive all interest that is accrued by the mToken reserves.
Meow Protocol is currently only available for Scroll and Ethereum networks. They have plans of expanding to other blockchains in the future.
The quantity supplied is not restricted to a minimum or maximum; it is at your discretion. It is essential to note, however, that the transaction cost of the procedure may surpass the anticipated earnings for extremely small amounts. When providing exceedingly small amounts, it is advisable to consider this.
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