For BorrowersLast Updated: January 23, 2019
Why borrowing instead of selling my assets?
Selling your assets means closing your positions around it. By borrowing you are able to get liquidity without selling your assets. For example, for unexpected expenses, leveraging or participating in an ICO.
What is the maximum amount I can borrow?
There is no minimum/maximum. The amount you can borrow depends on the value of your collateral. Borrowers can borrow up to 50% of their collateral value and up to 55% if LEND is used as collateral. There is no limit in loan value.
What If I don’t refill when the liquidation price is reached?
If you don’t refill then the lender will be able to perform a Collateral Call; This is an option for lender to liquidate the loan in case of collateral value dropping to equal outstanding loan amount in addition to premium accrued by that time.
What collateral can I use?
ETH, BTC, LEND and more than 180 liquid ERC20 tokens. ETHLend team is constantly working on blockchain interoperability to add more collateral options.
What can I borrow?
You could choose from different options:
- ETH pegged to USD, EUR, GBP, INR, KRW, JPY and CNY.
Can I finish my loan prematurely?
Yes, you can finish your loan prematurely just paying the outstanding instalments following the same loan terms.