How to borrow

In the Borrow section you will be able to see which NFTs you have in your wallet that are supported in the protocol to be used as collateral to borrow against the protocol tokens.

You will also be able to see your loans if you have already made a deposit of an NFT in the My Loans section below:

Deposit an NFT and borrow against it

After selecting the Deposit NFT option, you will see that you can select the NFT you want to use as collateral, and you will automatically see its Valuation, LTV and the amount it is available to borrow:

Once you have selected the one you want, select Continue and you will be able to select the amount you want to borrow.

At the bottom you will see the Health factor. The higher the amount of loans you borrow, the lower the health factor.

Your position will be safe as long as that amount is not less than 1.00, at which time the protocol will proceed to liquidate that Loan, giving you 24h to pay back the debt partially or totally before it is sold to other bids in the market from the My Auctions section.

Once you have selected the amount you wish to borrow, select Continue and you will have to perform the Approval of the Valuation of your NFT.

In case this is the first time you use the token you have selected to borrow (in this case ETH) and you have not approved that token before, you must also perform the Debt Token Approval.

In case you have not approved that particular NFT collection in the protocol before, you will also be asked for the Collection Approval:

Once all approvals are completed, you can proceed with the Borrow:

When you pay the corresponding fees and finish your Borrow, you will return to the Borrow section home screen and you will be able to see it in My Loans.

There, you will find the Borrow options (to borrow more at any time as long as the protocol allows it) and Repay, where you can partially or fully repay the loan.