How to take a borrow

How to take a borrow

If you haven’t connected a wallet yet, check

and then return here.

Borrows are available only if you deposit your bLuna tokens.

If you haven’t minted bLuna yet, check

and then return here.

You can do it like this:

  • Go to the Borrow tab and scroll down the page to the Collateral List section and click Provide
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  • Specify the amount of bLuna you’re depositing and click Proceed
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  • Enter your wallet password and confirm the transaction by pressing Submit
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  • Done. Collateral complete
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  • Now, a borrow of up to 50% of your collateral will become available. If your deposit was $16000, you can take a loan up to $8000 in the UST stablecoin
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Borrow

  • To take a loan press Borrow
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  • Specify the desired deposit amount in UST (or drag the slider) and press Proceed. Here you’ll see the rate percentage of the loan, it’s approximately 30% yearly and can change depending on the supply and demand. Important: it’s not recommended to take the maximum loan amount (50%), because if the price of Luna drops, your value of your deposit will decrease as well and the loan amount will be higher than half of the deposit, which will result in partial or complete liquidation of your loan. The recommended percentage for a loan is 35% of the deposit.
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  • Enter your wallet password and confirm the transaction by pressing Submit
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  • Done. You have now taken a UST loan from your bLuna deposit. Now you may use it in your desired ways. Aside from that you’ll also receive ANC token rewards, more about that in the Govern section
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Repay

Loans, of course, have to be paid back. Fully or partially, this is how you do it:

  • Press Repay
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  • Enter the UST amount you’re paying back and press Proceed
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  • Enter your wallet password and confirm the transaction by pressing Submit
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  • Done. Your loan has been paid for. Now you can take back your deposit.

Deposit withdrawal

  • Go to Collateral List and press Withdraw
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  • Specify the amount of bLuna you’re removing from your collateral and press Proceed
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  • Enter your wallet password and confirm the transaction by pressing Submit
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  • Done. bLuna is no longer provided as collateral
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