Borrowing And Repaying Uing DOLA Borrowing Rights
Deposit WETH in the FiRM app. You can use another asset to purchase WETH as a part of the borrowing transaction. Make sure that you have enough WETH left to continue transacting as it is the gas token of the Ethereum blockchain.
Decide how much DOLA you want to borrow. Note that if your WETH collateral drops in value to the point where your deposit no longer meets the collateral factor, or you borrow the maximum amount of DOLA that you are allowed, you may get liquidated.
Input the loan duration you wish to secure or DBR amount that you wish to purchase as a part of the borrowing transaction. The cost of the DBR will be added to your DOLA debt.
Double-check that the app parameters express what you intend and execute the transaction. There may be multiple transactions to approve and execute depending on how complex the transaction is.
Click the button “Exit Mode”. The tabs let you decide if you want to repay, withdraw collateral or both at the same time.
Enter the amount of DOLA that you want to repay.
Enter the amount of the collateral tokens that you want to withdraw.
Execute the transaction.
To borrow DOLA in FiRM, a user must first deposit collateral in one of the markets.
The user must also hold DBR tokens to service the debt, or purchase DBR tokens as part of the loan transaction.