Borrow and Repay
WENWEN Protocol allows you to borrow USD pegged stablecoin – WEN against Crypto-assets, including basic assets and ibTKNs as collaterals. To borrow some WEN, simply head to the Borrow section. Firstly, you will need to deposit your collateral asset. After this, set the amount of WEN that you would like to borrow based on your available deposits that would be used as collateral for this position. You should beware and continually monitor your position health and liquidation price to avoid liquidation.
To repay your debt, simply go to the Borrowings section and click on the Repay button. Select the amount of WEN you would like to pay back and confirm the transaction.
You can only repay your debt in WEN, and the total amount of debt you will need to repay before closing your position includes: the WEN principal borrowed, borrow fee, and the continuously accruing interest fee.
You don't have a repayment schedule, which means you can repay your debt at any time. However, it is also your responsibility to monitor your position health to avoid liquidation. Please note, as time passes, the accrued interest will grow and your health factor will decrease if you don't repay part of your debt or deposit more collaterals, which might result in your position becoming more likely to be liquidated.
To withdraw you need to go to the Borrowing section and click on Repay. Enter the amount of collateral assets you would like to withdraw and confirm the transaction.
You will need to make sure there is enough collateral to keep your position healthy, before withdrawing any amount of collateral assets.