Borrow
Last updated
Last updated
The Borrow feature offers a simple way to use your Ethereum (ETH) as collateral to borrow XLORD tokens. This service provides a straightforward method to leverage your ETH holdings for additional utility within our ecosystem.
Using ETH as Collateral
To access XLORD tokens, you can pledge your Ethereum (ETH) as collateral. This means you temporarily lock up a portion of your ETH to secure the borrowed XLORD tokens, allowing you to access them without needing to sell your ETH.
Borrow Rate and Price
The borrowing rate is 100%, closely following the market price. Given that XLORD currently does not have a liquidity pool, the borrowing price is fixed at 0.000002 ETH per XLORD token.
Interest Rate
Currently, borrowing XLORD tokens incurs a 0% interest rate, making it an exceptionally cost-effective option for leveraging your ETH holdings.
Liquidation Rate
The liquidation rate is set at 85%. However, since there is no liquidity pool for XLORD at the moment, liquidation processes are not yet implemented.
Borrowing Process
Collateral Submission: You submit your ETH as collateral to start the borrowing process.
Receiving XLORD Tokens: After your collateral is submitted, you receive XLORD tokens equivalent to the value of your pledged ETH at the current fixed rate (or market price). With these XLORD tokens, you can utilize them as utility tokens on our platform to purchase items and packages.
Repayment and Collateral Retrieval: To get your collateralized ETH back, you need to repay the borrowed XLORD tokens. This action allows you to reclaim your ETH, completing the borrow transaction.
Utilizing XLORD Tokens
After receiving XLORD tokens, you can use them as utility tokens on our platform. These tokens open up a range of possibilities, allowing you to purchase items, packages, and more, enhancing your interaction and experience with our services. For more detailed information on how to make the most out of XLORD tokens, we encourage you to visit our token documentation.
Benefits of Borrowing
Leverage Your ETH: By using your ETH as collateral, you gain access to XLORD tokens, increasing your engagement opportunities within our ecosystem.
Maintain Flexibility: Borrowing allows you to keep your ETH while exploring the benefits of XLORD tokens.
To learn more about our Borrow terms, please refer to our Borrow Policy.
