Loopscale Launches Deposit-Backed Lending, Jupiter Lending Positions Can Be Used as Collateral

Foresight News reports that the Solana-based lending protocol Loopscale announced via a tweet that Deposit-Backed Lending is now officially live. Users can now use Jupiter Lend's lending positions as collateral for borrowing on Loopscale. Specific features include: depositing JUICED (Jupiter Lend JupUSD deposits) into Loopscale to earn leveraged lending yields; using JUICED and jlWSOL as collateral to borrow USDC, jupUSD, or SOL; and lending out jupUSD.