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Leverage Taker

Borrowing USD on Our Protocol: A Step-by-Step Tutorial

Introduction

In this tutorial, we will walk you through the process of borrowing USD on our protocol. Our main product, the funding book, serves as a lending order book, and this guide will help you navigate it with ease.
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Step 1: Post Collateral

To begin, you need to post collateral to secure your loan. This can be done by depositing assets into your account on the platform.
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Step 2: Access the Funding Book

Navigate to the funding book on the platform. Here, you will find bids to borrow on the left and offers to lend on the right. The price of the order book represents the rate of the underlying loan.
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Step 3: Place a Bid or Accept an Offer

As a borrower, you can either place a bid to borrow at a specific rate or accept an existing offer from a lender. If you choose to take a market borrow, click on the corresponding button and approve the transaction.
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Step 4: Wait for the Transaction to Process

Once you have approved the transaction, it will take some time for the platform to match you with a counterparty and process the loan. The platform runs multiple synchronous jobs to facilitate automation.
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Step 5: Review Loan Details

After the loan is processed, you will see the details of the loan, including the fixed interest rate, loan amount, borrower (you), and lender. The platform allows for fixed rates and known counterparties, which are essential for improving APY, creating market-driven pricing, and facilitating better compliance tooling.
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Step 6: Consider Using the Yield Product

If you prefer a more hands-off approach, you can deposit funds into the platform's yield product. Lends will automatically manage your orders for you, keeping your funds rolling in the order books.
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Step 7: Deposit Tokens for Pooling

You can deposit tokens, like aTokens and cTokens from Aave or Compound, to earn pool yield. When a peer-to-peer match is available, the platform will bump you up to a higher rate.
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Step 8: Monitor Your Account

On your account page, you can view your collateral assets, open orders, and debts. The platform offers an atomic debt system, where each debt is represented by its own token.
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Step 9: Manage Your Debts

You can settle your debts, post them on secondary markets, or refinance. The platform also provides automation on the borrower side, allowing you to keep your loan rolling.
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By following these steps, you can easily borrow USD on our protocol, take advantage of the yield product, and manage your debts efficiently. With powerful tools and features designed for institutional use cases, our platform offers a seamless borrowing experience for both retail and institutional borrowers.