Borrowing Assets

Amply Finance empowers you to unlock the full potential of your crypto assets by allowing you to borrow against your collateral. Here's a step-by-step guide:

1. First, ensure that you have supplied a token as collateral. Refer to this section for a step-by-step guide on how to supply an asset on Amply.

2. Next, pull up the Supply/Borrow modal and click “Borrow Token”.

1. Choose What to Borrow: Select the cryptocurrency you need from the available options.

1. Enter Borrow Amount: Specify the amount of the chosen crypto asset you want to borrow.

1. Confirm Borrow: Review details and finalize the transaction to receive the borrowed funds.

Important Considerations:

• Health Factor: Represents the health of your debt position. Your Health Factor decreases the more you borrow. The lowest you can go is to a Health Factor of 1.

• Repayment: Remember to repay the borrowed amount plus interest to avoid liquidation.

By understanding these steps and considerations, you can effectively leverage Amply Finance to meet your financial needs.