Supported Tokens

An explanation of tokens that can be used as collateral using the mefi dapp.

Currently, our protocol supports eight ERC-20 tokens for use as collateral. More tokens that meet the Project Criteria will be added as the project grows, including newer and legacy meme coins. There are also plans to expand to other chains in the future.

Each token has its own unique tax structure, falling into one of three categories:

• Zero Tax

• Buy/Sell Tax

• Buy/Sell/Transfer Tax

Note: Borrowers will only "lose" a portion of their collateral if the collateral has a transfer tax. When using the dapp, the tokens are transferred from the user's wallet to the smart contract. That transfer tax would also be applied when the collateral is returned from the smart contract back to the user's wallet.