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Singapore-registered Bitrue (BTR) exchange is very popular among the soldiers in the $XRP Army as it is focused on $XRP-centric services. Also, it was one of the first top-notch exchanges to list the "dog-coins."
$DOGE, $SHIB are now accepted as collateral by Bitrue Loan: see LTV
According to the official announcement by cryptocurrency ecosystem Bitrue (BTR), its lending/borrowing module Bitrue Loan now accepts Dogecoin ($DOGE) and Shiba Inu Coin ($SHIB) as collateral.
Good news for all the $DOGE and $SHIB lovers out there, you can now pledge them as collateral in a #BitrueLoan! What's more, you'll be able to borrow at an impressive 50% LTV to maximize the value of your dogs.
— Bitrue (@BitrueOfficial) June 4, 2021
Give it a try at https://t.co/WBAOg5MYN9 pic.twitter.com/Svjo9csroo
Both coins can be pledged for loans denominated in Bitcoin (BTC) and U.S. Dollar Tether ($USDT) stablecoins. The offering includes a very lucrative "loan-to-value" ratio of 50%.
That means that, say, to borrow $1,000 in $USDT, you need to pledge $2,000 in Dogecoins ($DOGE) or Shiba Inu Coins ($SHIB).
As covered by U.Today previously, both Dogecoin ($DOGE) and Shiba Inu Coin ($SHIB) represent memetic coins with no real-world use cases.
Promo campaign with $XRP and BTR bonuses launches
Dogecoin ($DOGE) and its dog-themed copycats have been aggressively promoted by Elon Musk. Meanwhile, after jaw-dropping rallies, their prices plummeted when Vitalik Buterin dropped significant shares of their supplies.
Bitrue (BTR) celebrates a new opportunity with a massive promo campaign. Any user who collateralizes Dogecoin ($DOGE) and Shiba Inu Coin ($SHIB) automatically receives 10 $XRP.
Also, participants in the promo who spread the word about the offering are eligible for the tournament, with the main prize of 1,000 Bitrue Coins (BTR).