Borrowing VAI

Introduction

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.

Steps for Borrowing VAI

Step 1: Access VAI Borrowing UI

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.

Step 2: Connect Your Wallet

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.

Step 3: Enter Borrow Amount

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.

Step 4: Review and Confirm Borrowing

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.

Repaying VAI Debt

Step 1: Navigate to Repay Tab

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.

Step 2: Enter Repayment Amount

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.

Step 3: Review and Confirm Repayment

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.

Conclusion

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.