The Avalanche team announced via a Medium post on Tuesday that Yeti Finance is now live on its network. Yeti Finance is a decentralized borrowing protocol built on Avalanche.
Avalanche said Yeti Finance allows users to borrow up to 11x against LP tokens, staked assets, and base assets, plus 21x on yield-bearing stablecoins at a 0% interest rate.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.
AVAX is up by more than 3% so far today and currently trades at $79.46 per coin.