How to Borrow Stablecoins on Warp Finance
You can borrow stablecoins on the borrower page. Once on the borrower page you have to provide collateral which is necessary to borrow stablecoins.
You can then click any stablecoin you like and click “Borrow”
Upon clicking “Borrow”, a modal pops up that lets you then type in how much you would like to borrow, view your borrower limit while making this selection, as well as the interest rate for this loan.
Upon clicking “Borrow”, the transaction is prompted to Metamask and requires confirmation. You can then view on Etherscan that the transaction has been confirmed. The borrower limit at this point would be reduced and the collateral locked until either more collateral was provided or a loan was repaid. The repayment is settled in the same stablecoin that you borrowed.
To repay, you have to click on “Repay” and type in the amount that you would like to repay at this time and the amount due factors in an interest rate which is viewable on the borrower page.
Upon entering the amount you would like to repay and clicking on “Repay”, Metamask pops up and you need to confirm the transaction.