Announcing the Support of ibTKNs as Collateral

Mensa Protocol is glad to announce that we will support ibTKNs as collateral.

As the first native protocol on Fantom to support ibTKN, we have made a unique innovation.

TL;DR

Users can stake LP tokens in Mensa for higher returns. It also allows assets that have been locked into liquidity to be used as collateral for lending, improving asset utilization.

How It Works

After adding a USDC-FTM/MIM-FTM/fUSDT-FTM and DAI-USDC LP on SpiritSwap, users can deposit it on Mensa Protocol to receive not only $SPIRIT rewards of the Farm in SpiritSwap, as well as $MSA deposit rewards from Mensa Protocol.

Why Would I Do This

1. Stake LP Token in Mensa Pro to get a higher apr than in SpiritSwap.
2. When you add liquidity, your USDC and FTM are locked into LP Tokens and the only thing you can do is to get the rewards from liquidity mining. When you deposit LP Tokens in Mensa, it can be used as collateral to borrow assets in Mensa. The utilization of your asset is increased.

For example:

Estimate USDC-FTM LP Farming APR

Staking in SpiritSwap: 52.04%

Staking in Mensa Protocol: 52.04% + 7.10% = 59.14% (13.64% Higher)

Staking in Mensa Protocol and Borrow USDC: 52.04% + 7.10% + 27.81%*0.5 = 73.04% (40.35% Higher)

(The above results are estimated based on data from Dec. 20)

When Will It Available

USDC-FTM will be available on Dec.

More LP tokens will come soon.