[LEND] How to borrow assets

  1. Navigate to dForce Lending (https://app.dforce.network/) and connect to your wallet (Here we take Kovan testnet as example). Orange cards in My assets represent assets that you have supplied and can be used as collateral. Click “Lend” in the side bar. Here we take borrowing DAI out with WBTC as collateral as example.

  2. Select asset to be used as collateral in My Assets, click “SUPPLY” to enter the asset page. Make sure you have set “As Collateral” below to “YES”. (If you have done this when you supplied the asset, you can skip this step.)

  3. When “As Collateral” is “YES”, the asset can be used as collateral to borrow other cryptos out.

  4. Back to Lend page. Select the asset you would like to borrow out (here we take USDC as example), click “BORROW”.

  5. Fill in or select the proportion bar below to enter the amount of asset you want to borrow, then click “BORROW”. Confirm the transaction in your wallet.

Note: We strongly recommend that your loan amount should not exceed the SAFE MAX, so as to better resist market risks and ensure the safety of collaterals.

  1. You can find the asset you have borrowed out on My Assets after succeeded, and Adequacy Ratio changes.

Note: When Adequacy Ratio lower than 1, the borrower is in a situation of insolvency and face the risk of liquidation if collateral is not replenished in time to bring Adequacy Ratio back to 1 or above.