DeFi og lån
Borrowing against crypto collateral
Borrowing in DeFi looks simple: lock crypto, take stablecoins. The detail matters — how much you may borrow, how fast the rate moves and when the contract sells your collateral.
Overcollateralisation
Because the protocol does not know you, it asks for more security than the loan is worth. Lock €10,000 of ether and you may borrow perhaps €7,000.
Your position carries a health factor; at 1 liquidation starts. Staying above 1.5 is prudent with volatile collateral.
Liquidation is an auction, not a fine: someone buys your collateral at a discount and repays your debt.
Where the rate comes from
Rates track pool utilisation. At 90% utilisation rates spike to attract deposits and encourage repayment.
For a borrower that means no fixed rate: 4% today can be 12% next month.
Lenders earn the mirror image, minus a reserve cut. There is no company topping the yield up.
Setting up a loan safely
Start small on a protocol with a long track record and borrow a stablecoin so only the collateral is volatile.
Set your own alert well above the liquidation threshold and decide in advance whether you add collateral or repay.
Price in everything: interest, network fees and tax on the result.
Anbefalt av redaksjonen
Eksterne parter. Block #9 oppbevarer ikke dine midler. Ikke investeringsråd.
Ofte stilte spørsmål
What happens on liquidation?
Part of your collateral is sold at a discount to repay the debt; you keep the remainder minus that discount and fees.
Is borrowing a taxable disposal?
Usually not in itself, but a liquidation generally is. Keep records and check locally.
Can I fix the rate?
Some protocols offer fixed or hedged rates, normally at a premium and with thinner liquidity.