Borrowing VAI
Last updated
Last updated
This guide provides step-by-step instructions on how to borrow VAI, the stablecoin of Venus Protocol, available exclusively for prime users. Borrowing involves using your account's total core pool collateral to secure the loan, and this tutorial will walk you through the VAI UI to accomplish this.
Navigate to the Venus Protocol website and select the "VAI" option from the sidebar menu. This will take you to the VAI dashboard, where you can manage your borrowings and repayments.
Click on the "Connect wallet" button in the top right corner of the VAI dashboard to connect your wallet. This is necessary to interact with the Venus Protocol and manage your VAI borrowings.
In the "Borrow" tab, enter the amount of VAI you wish to borrow in the provided field. You can also see your maximum borrow limit based on your account's total collateral. Ensure that the amount you wish to borrow does not exceed this limit.
After entering the desired amount, review the details of your borrowing transaction, including the collateral used and the borrow limit. Once you've confirmed that everything is correct, click on the "Borrow" button to initiate the transaction.
A wallet pop-up will appear, asking for your confirmation to proceed with the transaction. Confirm to finalize the borrowing process.
To repay your VAI debt, access the VAI dashboard again and select the "Repay" tab. This interface allows you to make repayments towards your borrowed VAI.
In the "Repay" tab, enter the amount of VAI you wish to repay. You can choose to repay part of your debt or the entire amount.
Review your repayment details carefully. Once you are ready, click on the "Repay VAI" button to proceed. Confirm the transaction in your wallet pop-up to complete the repayment process.
Borrowing and repaying VAI on Venus Protocol is straightforward with the VAI UI. By following these steps and ensuring you have enough collateral, you can manage your stablecoin needs effectively. Always be mindful of your borrow limits and repayment responsibilities to maintain a healthy financial position within the protocol.
