How To Borrow
Last updated
Last updated
Connect Wallet, then click Lending module on the bottom, go to Synths Lending page.
Select collateral and asset to borrow, input collateral amount and borrowing asset amount, click confirm to borrow the asset.
During the process, Collateral Ratio (C-Ratio) = Collateral Value / Borrowing Synthetic Asset Value (denominated in $USD), if collateral ratio of a loan is under 130%, system will liquidate the loan.
Click Active Borrows, then click Manage button to manage corresponding loan.
Add Collateral: By adding collateral, collateral ratio will increase to prevent from liquidation.
Remove Collateral: Collateral can be partially removed when the loan is over-collateralized. Removing collateral will reduce collateral ratio and increase the risk of being liquidation. If the collateral ratio is reduced and lower than 130%, the transaction will fail to execute.
Increase Borrow: Increasing borrow will increase the amount of asset being borrowed, collateral ratio will reduce accordingly with higher risk of being liquidated. If the collateral ratio is reduced and lower than 130%, the transaction will fail to execute.
Decrease Borrow: Loan can be decreased by partially repaying the borrowed asset. Decreasing borrow will increase collateral ratio and reduce the risk of being liquidated.
Repay All: The loan can be closed by repaying all borrowed asset, after repaying all, all collateral can be drawn back, BNB used as collateral should be withdrawn on Borrowing page.
