Borrowing-related Questions
How do I borrow on LENDBIT?
First, you must deposit the required collateral in the form of supported assets. Then, create a borrow order with your desired loan amount, interest rate, and duration. The platform will automatically match you with available lending pools.
What happens if my loan’s health factor drops?
If your loan’s health factor drops below a certain threshold, the platform may initiate collateral liquidation to cover the loan. It is important to maintain a healthy LTV ratio to avoid liquidation.
Can I repay my loan early?
Yes, you can repay your loan early at any time, reducing the total interest owed.
What collateral can I use?
Currently, Sepolia ETH is the supported collateral. More assets will be added in future updates.
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