Borrow
Generate stables(BUSD USDT) using crypto as your collateral
Why would I borrow instead of selling my assets?
Selling your assets means closing your position on that particular asset. Hence, if you are long on the asset, you would not be entitled to the potential upside value gain. By borrowing you are able to obtain liquidity (working capital) without selling your assets. Users are mainly borrowing for unexpected expenses, leveraging their holdings or for new investment opportunities.
How do I borrow?
Before borrowing you need to deposit any asset to be used as collateral. After this, simply head to the Borrow section and click on “Borrow” for the asset you want to borrow. Set the amount you need based on your available deposits that would be used as a collateral for the loan.
How much I can borrow?
The maximum amount you can borrow depends on the value you have deposited and the available liquidity. For example, you can’t borrow an asset if there is not enough liquidity or if your health factor doesn’t allow you to. You can find every collateral available and its specific parameters for borrowing in the risk parameters section.
What asset do I need to repay?
You repay your loan in the same asset you borrowed. For example, if you borrow 1 ETH you will pay back 1 ETH + interest accrued. You can also use your collateral to repay in the new version. If you want to pay back the loan based on USD price you can borrow any of the available stable coins as BUSD, USDT, etc.
How long are the loan terms?
Loan terms of 7, 14, 30, 90, 180 and 360 days are available. You can always repay in advance and the interest is calculated based on the days borrowed.
How is the interest calculated?
Interest is calculated daily, and less than one day is calculated as one day. The interest rate is determined by the day you make the loan.
Start Borrowing