How to borrow?
Customers can either borrow in advance on the Borrow page or borrow on the Margin Trade page. The trading page provides a button for borrowing. After clicking, the window pops up, and the user can quickly borrow through it.
1. Borrow on the Margin Trade page:
1) Click Margin:
2) Click the “Borrow" button on the page.
2. Borrow on the Borrow page:
Clicking Lend under Earn column, the borrowers enter the Lend interface, click Borrow, selects the type of the coin, and enter the max acceptable borrowing daily interest rate and quantity and duration.
Borrowing involves two advanced setting modes, IOC and FOK with default IOC mode:
- IOC: Borrow the coins as many as lending Market opens
- FOK: Borrowing will be canceled when the amount of assets is insufficient.
In the IOC mode, according to the Borrow Amount customers filled in and the maximum daily interest rate range set by the customers, the automatic borrowing is carried out on the Lending Market until a sufficient amount is borrowed.
In the FOK mode, according to the Borrow Amount customers filled in and the maximum daily interest rate range set by the customers, if the number of assets can be borrowed is insufficient, the order will be canceled.
A borrow order may end up being divided into multiple borrow orders after it's filled completely. All the order histories will enter into the Unrepaid page.
Repaid contains: Principal, Accrued Interest, Repaid.
Unrepaid contains: Principal, Accrued Interest, Liabilities, Repaid.
Note: When borrowing, calculate the maximum loanable amount based on the amount of leverage and principal. The amount of borrowing cannot exceed the maximum loanable amount. When calculating the maximum loanable amount, convert all the assets in the Margin account into BTC according to the index price and then calculate the loanable amount.