MetaLend partners with Sky Mavis

Decentralized lending protocol MetaLend has announced a partnership with Sky Mavis to deploy on the Ronin network and become an official lending partner for players and investors of the popular blockchain game Axie Infinity. 

With this newly formed partnership, Axie Infinity players can get up to 30% loans against their digital assets and stake assets to earn rewards.

“DeFi services are key financial infrastructure in supporting digital economies,” said Bailey Tan, Director of Ecosystem Strategy at Sky Mavis. Co-founder of MetaLend Sudjeev Singh noted that early users had no option but to take out loans via the Polygon protocol and then bridge it over to Ronin for reinvestment into the ecosystem. Singh said, “Now that we are deployed on Ronin, we expect to see a large uptick in usage as the process of taking out a loan is much more efficient.”