Borrowing Assets

1. On the top right corner of the Loan section, click on Create New Loan.

1. Write the name of your loan, click on Create Loan, and sign with your wallet.

1. Click on Manage to handle your loan.

1. Before borrowing an asset you need collateral. To collateralize an asset click on Collateralize in the Available to Collateralize table.

Collateralizing an asset on spoke chains may require more time to be executed than usual. This has been due to the Waiting Delay.

Definition: Waiting Relay indicates that a transaction has been initiated from a spoke chain and is awaiting delivery to the hub chain via the Generic Messaging Protocol (GMP) such as Wormhole or Chainlink CCIP. For certain operations like deposits, collateralization, and repayments, the waiting time is longer as it requires achieving finality on the spoke chain where the operation was initiated. The Waiting Relay is necessary because it avoids potential risks such as double spending by ensuring that a transaction has been fully confirmed on the source chain before proceeding.

1. Type in the amount you want to collateralize and sign with your wallet

1. Now you can borrow assets. To borrow an asset click on Borrow in the Available to Borrow table

1. Type in the amount you want to borrow, choose between Variable and Stable APY, click on Borrow, and sign with your wallet