Bloqboard | Help Question

Borrowing from a Liquidity Pool

This guide will walk you through how to borrow from a liquidity pool.

Navigate to "Borrow" on the left-hand side of the platform and in the centre scroll down to the "Borrow from liquidity pool" section. 


Next, select the asset that you would like to collateralize your loan with and click the red "Lend" button next to that asset. Note: You must be holding this asset in your MetaMask wallet. 


In the pop-up window, view the details of the loan and enter the amount that you would like to lend as collateral in the "Lend" field.


Next, click the red "Lend" button.


Next, a MetaMask notification window will pop-up. Review the gas fee. (Note: MetaMask periodically updates their wallet. The same user journey will apply, however the screenshots may look different from your wallet).


Click the "Confirm" button. 


After the transaction verifies on the blockchain, a message will pop-up letting you know that it was successful. 


Now, navigate back to the "Borrow" tab. 


The amount that you loaned out will be visible once the transaction verifies on the Ethereum blockchain.


From the remaining tokens, select the one that you would like to borrow. 


Click the green "Borrow" button. 


In the pop-up window, review your "limit to borrow balance" and the annual percentage rate (APR) and enter the amount that you would like to borrow in the borrow field. 


Click the green "Borrow" button.


Next, a MetaMask notification window will pop-up. Review the gas fee. 


Next, click the "Confirm" button. 


To view the loan, navigate to the "My loans" tab on the left-hand side of the platform.


Scroll down the “My liquidity pool loans” section and locate the asset that you borrowed. 


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