Borrow money
How To Borrow Against Ordinals?
To begin, press ‘Connect Wallet’ and select the Bitcoin wallet provider corresponding to the wallet holding the collateralized tokens.
Find a Collection: Visit the Assets page and locate a collection that you own an Ordinal from and click “Borrow Against”.
Select your Ordinal: Choose your desired Ordinal from the collection to use as collateral.
Enter the amount you want to borrow in the input box.
Choose Desired Transaction Speed: Pick between Low, Medium, and High speed in sats/vB or click on the pencil in the top right, to set your desired fee amount.
After confirming the transaction information, click the borrow button.
Regularly monitor your health factor from the ‘Loans in the dashboard’ to verify that your collateral remains sufficient. If your health factor drops, consider repaying part of your borrowed position to avoid liquidation. The health factor is a critical indicator of the safety of your borrow position, and maintaining it above the liquidation threshold is essential to prevent your collateral from being liquidated.
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