Fringe Finance

Fringe Finance, an all-new and inclusive DeFi lending platform, saw the integration of $FTT as a collateral type into its Primary Lending Platform (PLP). With Fringe’s PLP, borrowers can take out $USDC loans against their altcoins. Now $FTT holders will get access to stablecoin loans and will be able to unlock part of the value of their positions without selling their tokens.Below, we’ve prepared a short tutorial on borrowing $USDC with FTX tokens.<h2 id="header-0">How do $USDC Loans work?</h2>Through Fringe Finance, you can take out instant $USDC overcollateralized loans against:<ul><li>$MATIC (Polygon)</li><li>$FTT (FTX Token)</li><li>$SAND (The Sandbox Token)</li><li>$MANA (Decentraland)</li><li>$FOX (Shapeshift FOX Token)</li><li>$LINK (Chainlink)</li><li>$TOMOE (ERC-20 $TOMO) (Tomochain)</li><li>$REN (Ren Protocol)</li><li>$IOTX (IoTeX)</li><li>$BNT (Bancor)</li><li>$OGN (Origin Protocol)</li><li>$LDO (Lido Finance)</li><li>$SHIB (Shiba Inu)</li><li>$APE (Ape Coin)</li></ul>Here’s how it works:On the Primary Lending Platform, you can deposit altcoins into your personal collateral safes. Your wallet is the only key to moving the assets on your collateral safes. You, and only you, maintain full control of your assets throughout the duration of your loans. Fringe’s PLP has been doubly audited by <a href="https://github.com/HashEx/public_audits/blob/master/Fringe%20Finance/Fringe%20Finance.pdf" rel="noopener noreferrer nofollow">HashEx</a> and <a href="https://drive.google.com/file/d/1LS7Xmxpgs2ontY0RSvpsLwyRZ20ypK26/view" rel="noopener noreferrer nofollow">CyberUnit</a>; thus, it has the highest standard of security in crypto. Still, we encourage users to always do their own research before dropping assets to a smart contract.Once assets have been deposited into the platform, you may take out loans against your holdings. The amount a user can borrow depends on the total value deposited in the collateral safe, the asset’s maximum borrowing capacity, and the asset’s loan-to-value ratio (LVR). $FTT current LVR in Fringe’s PLP is 50% — depositing $1000 worth of $FTT allows a user to borrow up to 500 $USDC.Outstanding loans accrue interest continually. This interest, however, does not increase proportionally as your $FTT increases in value. This means that any gains from your $FTT position are entirely yours. If your $FTT drastically depreciates, your position may become undercollateralized and subject to liquidation. In other words, the platform will be allowed to sell an equivalent amount of your deposited $FTT plus a liquidation fee to settle your loan.<h2 id="header-1">What is FTT?</h2><a href="https://ftx.com/" rel="noopener noreferrer nofollow">FTX</a> is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products, including industry-first derivatives, options, volatility products, and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users. The FTX Token ($FTT) is the backbone of the FTX ecosystem.<h2 id="header-2">How to borrow USDC with FTT on Fringe Finance</h2>You can get an instant $USDC loan with $FTT in five easy steps.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/012953ff7b6b438bac1414ba52156f54.png" />1. Go to <a href="https://app.fringe.fi/" rel="noopener noreferrer nofollow">Fringe Finance’s PLP</a> and open the Borrow tab. Click the Deposit button on the right of the FTX token and press Enable. Metamask will prompt you to confirm a transaction enabling the deposit of $FTT into Fringe’s PLP.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/7885e3b1804449408fbba233b5a8a72b.png" />2. First, enter the amount of $FTT tokens you would like to deposit. Click Deposit and confirm the operation via your MetaMask wallet.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/1b23626361404cbbbb270e61d747e73a.png" />3. Click FTX Token’s “ ⋮ ” button to open the drop-down menu, and then click Borrow.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c445bdbe66af41e38a4d2c2a5611ca1c.png" />4. Enter the amount of $USDC you want to borrow, taking care to keep the Health Factor as far from 1 as reasonable to avoid being liquidated. Click Borrow and confirm the operation via your MetaMask wallet.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/d62c7354ceb64517afd04d935ace287e.png" />5. That’s it! Your borrowed $USDC will be available in your wallet automatically.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f884b56cf2c045b7bd7727d77e8eb30b.png" /><h2 id="header-3">How to repay your loan</h2>You can repay your $USDC loan in three easy steps.1. On the Borrow tab of the <a href="https://app.fringe.fi/" rel="noopener noreferrer nofollow">Fringe Finance’s PLP</a> click Repay.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3eed5b7bd05f47c19f18d7ffc14dc437.png" />2. Enter the amount of $USDC you want to repay. Click Repay and confirm the operation via your MetaMask wallet.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/60c41226608a4b55a44708948c4cfa21.png" />3. After the successful confirmation of the transaction, your loan will be repaid. Hence, you will be able to withdraw your deposited $FTT by clicking Withdraw.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/723ae1fd466448c7aec1c644414f487b.png" /><h2 id="header-4">Learn more about Crypto Borrowing and Lending</h2>FTT is one of the top altcoins that can be used as collateral to get an instant loan on Fringe Finance. You can check other accepted altcoins on our <a href="https://app.fringe.fi/" rel="noopener noreferrer nofollow">Primary Lending Platform</a>, alongside the $USDC lending functionality that allows you to effortlessly earn interest on your $USDC.

Borrowing USDC with FTT: A Guide

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Fringe Finance

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