4️⃣Borrowing Assets
Follow these steps to borrow funds from Seamless to your wallet
Go to app.seamlessprotocol.com and connect your wallet.
*NOTE: In order to borrow tokens, you must have already supplied tokens to be used as collateral. To learn how to Supply, click here.
Now you will see your supplied assets in the ‘Your supplies’ section of the dashboard. Make sure the 'Collateral' toggle is green.
Your supplied assets act as collateral allowing you to borrow additional assets on the platform.
The ‘Assets to borrow’ section will appear on your dashboard once you’ve supplied liquidity to Seamless Protocol.
Click the ‘Borrow’ button and select the amount you’d like to borrow. You can borrow either cbETH, USDbC, or ETH, regardless of your collateral asset.
After you approve the transaction in your wallet, you’ll see a ‘Your borrows’ section to show your borrowed amount.
That's it! You’ll see your position on the Dashboard when your wallet is connected. Borrowing is risky, so please see below for important disclaimers. 👇👇
Important Discalimers & Information about Borrowing:
By borrowing assets, you are responsible for repaying both the principal and the variable interest rate associated with your loan. The variable interest rate for each asset is shown in-line within the app.
To learn more details about LTV, Liquidation Thresholds, and stats on other borrows within Seamless Protocol, you can also hit the ‘Details’ button from within the ‘Assets to borrow’ section.
The Maximum LTV ratio represents the maximum borrowing power of a specific collateral. For example, if a collateral has an LTV of 77%, the user can borrow up to 0.77 worth of ETH in the principal currency for every 1 ETH worth of collateral.
When choosing a borrowing amount, please also consider the variable interest rate on the position. Additionally, depending on the LTV amount you choose, there is an associated health factor to help clarify liquidation risk. Your health factor and LTV determine the assurance of your collateral.
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