Lending and Borrowing Guide
Step-by-step guide for borrowing assets
Last updated
Step-by-step guide for borrowing assets
Last updated
Navigate to the site, click connect wallet and chose the provider. Waves Keeper can be installed from your browser's store(chrome, brave, firefox). If you're using a mobile device(iOS/Android), only waves.exchange options are available.
Click "Supply" button, input the amount and ensure "Use as Collateral" is enabled. This will increase your borrow limit across the system.
Click "Supply", confirm the transaction and await for transaction confirmation. The dialog will close and a popup will be shown. You'll start earning interest on your deposit immediately.
Borrowing decreases your account health. "Max Safe" button advises you the amount that will decrease it down to 20%. You can still input more, but no less than 5%. The smart contract ensures that to prevent your account from immediate liquidation.
Click "Borrow", confirm the transaction and await for transaction confirmation. The dialog will close and a popup will be shown.
As time passes, your debt, e.g. the amount you need to repay, will increase.
In All markets section, click on the asset name and observe all information on the asset you need. As Total Supply and Total Borrow varies depending on asset demand, so do Supply APY and Borrow APR. The interest rate model section is used to illustrate the dependency between asset utilisation and APY&APR.
To repay your debt, click on the corresponding asset in My Borrow section.
Withdrawing assets and disabling collateral decreases your borrow limit, so if you want to withdraw everything from the protocol, ensure you have no outstanding debts.
Ensure your account health stays high, so your account doesn't get partially liquidated in an active trading day.
