Borrow and Repay

Borrowing Assets

Users can borrow assets on Mage by depositing collateral, which is automatically enabled for borrowing. The maximum borrowable amount is displayed as the “Available Borrow” under the “Dashboard” page. It's important to monitor the Borrow Utilization closely to avoid liquidation risks.

Repaying Loans

Repayments are made through the “Repay” option under “My Borrow” on the "Dashboard" page. Timely repayments help maintain a healthy account status and prevent potential liquidation.