Borrow and repay assets
Learn how to borrow from a market on Omm, and repay your debt when you no longer need it.
When you borrow assets, you take on risk. You can borrow up to 76% risk, but if you participate in volatile markets like ICX, it’s best to keep your risk below 50% to avoid being liquidated.
Check your risk regularly. If it gets too high, reduce or repay your debt, or supply more assets.
After you supply an asset, you can borrow against it*. You'll pay a 0.1% fee when you borrow an asset, and your debt will increase over time from the interest, so it's best for short-term loans.
To borrow an asset:
- 1.Use the 'All markets' tab to find an asset you want to borrow, then click the market to expand it.
- 2.Click Borrow and choose the amount. Your risk, expected daily interest, and Omm rewards will update as you adjust the value.
- 3.Click Confirm and complete the transaction.
Depending on your wallet, you may see an equivalent amount of an Omm debt token (i.e. dUSDS, dsICX) appear for the asset you borrowed. This is how your debt – and the interest owed on it – is tracked.
*Most of the time. You can't borrow against some assets, like Balanced Dollars, until OMM holders vote to change the requirements.
You can reduce or repay your debt at any time from the Markets section.
To repay an asset:
- 1.Expand the market listing for the asset you want to repay.
- 2.Click Adjust, then choose the amount to repay.
- 3.Click Confirm and complete the transaction.
If you see a
Used label on the Borrow bar, you'll need to add more of that asset to your wallet to repay the full amount. You can trade all Omm assets on the Balanced exchange.
Last modified 1yr ago