Fringe Finance

<a href="https://fringe.fi/" rel="noopener noreferrer nofollow">Fringe Finance</a>, an all-new and inclusive DeFi lending platform, has integrated $NMR as a collateral type into its Primary Lending Platform (PLP). With Fringe’s PLP, token holders can take out $USDC loans against their altcoins. Now, $NMR 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 how to borrow $USDC with Numerai tokens.<h2 id="header-0">How do $USDC Loans work?</h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/077185363e4c4501b08fb9714295e281.png" />Fringe Finance maintains a growing list of altcoin assets that can be used as collateral for $USDC loans. We intend to integrate as many assets as possible into the Fringe Platform.Some of the assets you can take out instant $USDC overcollateralized loans against are:<ul><li>$wBTC (Wrapped Bitcoin)</li><li>$WETH (Wrapped ETH)</li><li>$MATIC (Polygon)</li><li>$SHIB (Shiba Inu)</li><li>$SUSHI (Sushi Swap)</li><li>$PAXG (Pax Gold)</li><li>$FTT (FTX Token)</li><li>$LINK (Chainlink)</li><li>$ZRX (0x Token)</li><li>$SNX (Synthetix)</li><li>$OCEAN (Ocean Protocol)</li></ul>Here’s how it works:On the Primary Lending Platform, you can deposit altcoins to use them as collateral assets. 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 always encourage users to do their own research and gather the necessary information to make informed decisions before dropping assets to a smart contract.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/187489b236be49cba6b6ba38d2788450.png" />Once you deposit assets into the platform, you may take out loans against your holdings. The amount you 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). $NMR’s current LVR in Fringe’s PLP is 65% — depositing $1000 worth of $NMR allows you to borrow up to 650 $USDC.However, this doesn&#39;t mean that you should necessarily max out your loan limit. You should always consider potential volatility within crypto, your overall loan health and position before taking out a loan. Be sure that you&#39;re not putting yourself in a position of potential liquidation risk by borrowing too much.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a7dc1a61767d4d0195206fb6c0a45490.png" />Outstanding loans accrue interest continually. This interest, however, does not increase proportionally as your $NMR increases in value. This means that any gains from your $NMR position are entirely yours. If your $NMR 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 $NMR plus a liquidation fee to settle your loan.<h2 id="header-1">What is $NMR?</h2>$NMR is an ERC-20 token that serves as the backbone of Numerai, a hedge fund that leverages the collective intelligence of artificial intelligence algorithms to invest in various global stock markets.<h2 id="header-2">How to borrow $USDC with $NMR on Fringe Finance</h2>You can get an instant $USDC loan with $NMR in five easy steps:*Note: These images are for illustrative purposes only. Values and tokens depicted in these images may vary from those shown on the Fringe Platform.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/35a8a92eed9e44a3aa3104c62dfc1eaa.png" />1. Go to Fringe Finance’s PLP and open the Borrow tab. You’ll need a MetaMask Wallet with the tokens you would like to use as collateral and some ETH to cover any fees.2. Click the “Deposit” button on the right of the Numerai token and press “Enable”. Metamask will prompt you to confirm a transaction enabling the deposit of $NMR into Fringe’s PLP. This incurs a fee.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/2fe8245571a54fc99b84114cbd0ea342.png" />*Note: $wETH is depicted here for the purpose of this tutorial. Borrowing $NMR will follow the same processes described in this tutorial.3. First, enter the amount of NMR tokens you would like to deposit. Click “Deposit” and confirm the operation via your MetaMask wallet. This generates fees.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/d735af56e3d9464cab117079ce8122f0.png" />4. Click $NMR’s “ ⋮ ” button to open the drop-down menu, and then click “Borrow”.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c82043f9df3b4e788a11d64fef2fc9e6.png" />5. 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. You’ll be charged a fee to complete this action.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/27204002761e4331bc9629f4d1a0a324.png" />6. That’s it! Your borrowed $USDC will be available in your wallet once the transaction is completed. You will now also be able to see your position’s health factor. Make sure to keep it overcollateralized to avoid liquidations!<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a292a6af113149c5a594d4fc53493b06.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/optimized-uploads/cc7b0b014c6445469705195ce94c4403.png" />2. Enter the amount of $USDC you want to repay. Click “Repay” and confirm the operation via your MetaMask wallet. This incurs a fee.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/94c60914e1a34e40aad3597ea5eb5b6e.png" />3. After the successful confirmation of the transaction, your loan will be repaid. Hence, you will be able to withdraw your deposited $NMR by clicking “Withdraw”.  Loans don’t need to be repaid all at once. You can pay off a loan progressively to release collateral over time.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/05cc8f4b463349388c3f47747ec99de5.png" /><h2 id="header-4">Learn more about Crypto Borrowing and Lending</h2>$NMR is one of the 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. If you’d like to learn more, see the <a href="https://fringe.fi/" rel="noopener noreferrer nofollow">Fringe Finance</a><a href="https://app.fringe.fi/FringeWhitepaperv1.2.pdf" rel="noopener noreferrer nofollow"> Whitepaper, or browse through the </a><a href="https://docs.fringe.fi/" rel="noopener noreferrer nofollow">Fringe Finance Documentation</a>.<h2 id="header-5">About Fringe Finance</h2>Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending &amp; borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.For more information on Fringe Finance, visit <a href="https://fringe.fi/" rel="noopener noreferrer nofollow">our website</a>.<h2 id="header-6">About Numerai</h2>Numerai is a San Francisco-based hedge fund that utilizes artificial intelligence and crowdsourcing to invest in global stock markets. Founded in October 2015, Numerai leverages crypto incentives to create an institutional-grade market-neutral hedge fund.For more information, please access <a href="https://numerai.fund/" rel="noopener noreferrer nofollow">their website</a>.

Borrowing USDC with $NMR: A Guide

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Fringe Finance

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