GMX Makes Its Dollar Vault Eligible as Collateral for Morpho Loans

GMX has made its Dollar Vault eligible as collateral on Morpho, allowing users to borrow against GLV [USDG] positions. The feature adds a borrowing use to the vault by letting users pledge a position to support a loan.

Collateral is an asset pledged to secure a loan. The vault distributes USDG across seven crypto markets and allows withdrawals at any time. Users may earn from trading volume.

Paxos launched Global Dollar (USDG) on Arbitrum One on Oct. 6, with Morpho lending and GMX’s vault among the integrations. The Oct. 6 Arbitrum launch also included USDG trading through Fluid and Uniswap, Maple’s syrupUSDG product, and USDG deposit and withdrawal support from Kraken.