MetaLend announced a partnership with Sky Mavis that will let players of the popular blockchain game Axie Infinity borrow money against their assets like Staked $AXS and Staked $RON very soon on their Game on Ronin.
MetaLend is a decentralized lending system that has collaborated with Sky Mavis to launch on the Ronin Network as an official lending partner for Axie Infinity players as well as investors. Prior to the collaboration, MetaLend allowed many users to use the value of their Axies, Mystic Axies, and Axie Land as security for loans made through the Polygon network.
DeFi services, as per Bailey Tan, Director of Ecosystem Strategy at Sky Mavis, are crucial financial infrastructures for the long-term viability of digital economies.
Sudjeev and Nikhil have demonstrated a strong commitment to working with Sky Mavis, and we are delighted that MetaLend’s permissionless financial exchanges are powering Ronin’s increasing network of games as well as services.
Axie Infinity players will be able to obtain liquidity from their in-game assets on Ronin due to this collaboration. This enables members to make strategic investments and transactions as well as spend funds on personal expenses.
Users will have the ability to borrow against yield-generating assets such as Staked Axie Land while still receiving benefits on their investments.
MetaLend will enable staked AXS and staked RON in the long term, with the latter being the token utilized to facilitate the Ronin Network’s transition to proof of stake. MetaLend will also allow users to play with their collateralized NFTs.