👩🎓Tutorials - Supplying & Borrowing
Connect your Solana wallet.
In order to borrow assets, you must supply assets first. There are two types of assets supported.
Vault Tokens - The tokenized representation of PsyFi Vault positions
Coins - At this time, SOL and USDC are supported
Click the asset you would like to supply.
Enter the total value to supply in the Supply Tab, click Supply and accept the transaction.
If the transaction is successful, you should see your account details updated with supplied assets. Now you are ready to borrow.
Account Details with Total Assets Supplied & Borrowed
Enter the total value to borrow in the Borrow Tab, click Borrow and accept the transaction.
Note that you can only borrow up to the Borrow Limit displayed. This value is set above the liquidation threshold, so you can borrow and not get liquidated immediately based on sudden price movements.
Your Borrow Limit is always smaller than the value of your collateral, you cannot borrow more than you have deposited.
Pay attention to the LTV, or loan-to-value ratio of the products you are borrowing. Your current LTV is the sum of all of your borrowed loans, divided by the sum of all your collateral supplied. This is expressed on the Account Health bar by the difference between the highlighted amount and 100%.
If your LTV exceeds the minimum LTV , your account is unhealthy, and may be liquidated. Note that the LTV used to determine liquidation for your account is the smallest of all the assets you have borrowed, so exercise caution when borrowing a new asset, as you may reduce your borrowing power.
If the transaction is successful, you should see the borrowed assets directly in your wallet, and your account details should reflect the borrowed balance. You will also notice that your account health will be updated to reflect your borrowed positions.
Last updated
