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Borrow
Open a loan in the app, read its candle, and repay or close it.
Before you start
- A Solana wallet that supports the Wallet Standard.
- Collateral: SOL, JitoSOL or NVDAx. SOL is wrapped and unwrapped for you inside the same transaction.
- A little SOL for transaction fees and the rent of your loan account. The app keeps 0.01 SOL aside when you deposit SOL.
Open a loan
- Pick a market
Choose SOL, JitoSOL or NVDAx at the top of Borrow. Each market has its own limits and its own USDC pool.
- Deposit collateral
Enter how much to deposit. A translucent candle appears on the stage where your range would sit: one band per 1% step, or per 2% step for NVDAx.
- Choose your bands
Use the slider, or drag the dish under the candle. Fewer bands convert quickly over a short fall; more bands convert gently over a long one. Past a point, more bands lower the most you can borrow, and the app says which limit applies.
- Borrow
Enter the USDC to borrow, up to the limit shown. The summary lists your range, your health, and the price at which a jump would liquidate the loan.
- Approve in your wallet
The app simulates the transaction first, then asks your wallet to sign. The transaction carries a fresh Pyth price for the market, which the program checks before it opens the loan.
Reading the stage
The stage is a price axis drawn on a log scale, so every 1% band is the same height.
- The flame is the oracle price. It moves when Pyth does. A faint trail behind it shows the last few minutes.
- Your candle is your loan. Wax is collateral still in your bands. The engraved sage pattern is dollars a band has already sold for.
- The hairlines beside it are everyone else. Under "Every loan in this market", each line is one band that holds collateral, so you can see where the market's loans sit. Point at one to read it.
- The red line is your gap liquidation price. If the price jumped straight there, with nothing converting on the way, the loan could be liquidated.
Drag the flame to preview another price. The candle shows what your bands would hold there, and the panel shows your health at that price. Let go and the flame returns to the real price. The preview runs the same band math as the program.
Your loan panel
| Line | What it tells you |
|---|---|
| You owe | Your debt, growing every second at the market's borrow rate. |
| Mix | How much collateral and how many dollars your bands hold now. |
| Health | Dollars in your bands, plus collateral at the oracle price less the liquidation discount, minus your debt. Below zero, anyone can liquidate the loan. |
| Versus holding | What your bands are worth now against simply holding what you deposited, both at today's price. This is the running cost of conversion. |
| Range | The top and bottom of your bands. |
| Gap liquidation | The price at which health would reach zero if the price jumped there in one step. |
| Band trade fee | What a band trade pays right now: 0.20%, or more for two minutes after a fast move. |
Repay
Repay any amount, at any time, inside or outside your range. Repaying lowers your debt and leaves your bands and range as they are. Paying more than you owe clears the debt and moves only what is owed. Anyone can repay any loan.
Close
Closing settles the whole loan in one transaction. Dollars in your bands pay the debt first, your wallet pays whatever is left, and the collateral comes back to you. SOL comes back unwrapped. If your bands hold more dollars than you owe, you get the surplus too.
The app asks for at least 99% of the collateral it shows, in case a band trades before your transaction lands. If a trade moves more than that, the program refuses the close and nothing changes.
If your loan is liquidated
Liquidation takes everything in your bands. Your debt is cleared and you keep the USDC you borrowed. The app shows a notice on that market with the transaction, and the loan disappears from Borrow. Health and liquidation explains when it can happen and how to stay clear of it.