Token
Borrowing Tokens: Step-by-Step Guide
The Borrow Token feature in Rain.Fi allows users to access tokens through a straightforward and intuitive process. Below is a detailed explanation of how it works:
1. Selecting Tokens for Collateral and Borrowing
When a user selects the Token option from the Borrow Menu, two sections are displayed:
"You Collateralized": Tokens the user can provide as collateral.
"You Borrow": Tokens the user wishes to borrow.
The user selects one token from each section to proceed with the borrowing process.
2. Viewing and Sorting Pools
After choosing the collateral and borrowing tokens, a dropdown window opens, displaying a list of available pools.
Default Sorting: Pools are displayed based on predefined criteria for ease of use.
Filter Icon:
Located on the top-right corner of the token selection screen.
Multi-Select and Order: Users can select multiple filters and arrange their order of priority. The pools will then be sorted based on the selected filters in the specified order.
Allows users to customize how pools are sorted, offering the following options:
Loan Amount: Sort pools by the maximum loan amount available.
Longest Duration: Pools with the longest loan terms appear first.
Shortest Duration: Pools with the shortest loan terms appear first.
Interest: Sort by the interest rate, from lowest to highest.
APR: Sort by Annual Percentage Rate (APR).
3. Pool Information Tooltip
Each pool in the list has a small "i" icon next to it.
Mouse Hover: Hovering over this icon displays detailed information about the pool, including:
Total Interest: The amount the user will pay in interest over the loan term.
Fees: Any additional fees associated with the loan.
This streamlined process ensures users can efficiently select tokens, evaluate pools, and make informed decisions based on transparent data.
Step 1 - Selecting Tokens for Collateral and Borrowing
Step 2 - Viewing and Sorting Pools
Filter Pools
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