You can borrow assets against your deposited collateral. The amount you can borrow is determined by the collateral ratio of assets you deposited. You can easily check the ratio of your deposit to borrows, or loan-to-value ratio (LTV) in the colored bar below the top menu.
Your assets can be subject to liquidation, if the ratio of your deposited assets to your borrowed asset exceeds the collateral ratio, or Loan-To-Value Ratio (LTV). BiFi only allows you to borrow up to the maximum borrow limit, but your LTV can exceed this in three scenarios:
1) Your borrowed asset increases in price, making your borrowed amount bigger, 2) Your deposited asset decreases in price, making your deposit amount smaller, or 3) your borrows plus accrued interest is more than your deposits plus accrued interest.
The amount you want to borrow.
The amount of interest you can earn on your borrow in a year.
Current price of the asset you want to borrow.
The maximum amount of assets you can borrow after you borrow the selected amount. The more assets you borrow, the lower the borrow limit becomes, proportionate to the collateral ratio.
Borrow limit before borrow >> after borrow $46.64 >> $23.43 (if you borrow $23.20)
Used Borrow Limit
The changed used borrow limit in percentage after you borrow the selected amount.
Used borrow limit before borrow >> after borrow 0.48% >> 50.24%
3. Repaying Assets
Click Repay to pay back your assets. Repay amount excludes the amount of interest you need to pay back. Select the amount you wish to repay.
The asset must be enabled to be repaid. Enabling assets incur gas fees, so you need to hold be holding ETH to pay on Ethereum BiFi and BNB to pay on BSC BiFi.