You can now borrow DOLA against your loaned collateral. More borrowing assets will be added after the launch
In the initial launch of Anchor your are able to borrow at a maximum collateralization ratio of 180%, meaning you can borrow up to 55% of your loaned USD asset balance.
Please be aware that when you borrow DOLA your collateralization ratio will change as the ETH price and the DOLA price fluctuates - BOTH CAN BE HIGHLY VOLATILE. Ensure that you understand the concept of liquidation and related risks before you borrow.
Before you can borrow you must first supply/deposit assets that you would like to use as collateral. Instructions on how to deposit/supply are here
Once you have deposited asset(s) to Anchor, you need to enable them to be used as collateral for the purposes of borrowing against. In the 'Supply' table, click the 'Enable' button for the asset(s) that you would like to use as collateral and sign the 'enable' transaction using your wallet.
Now that you have deposited assets and enabled those assets to be used as collateral to borrow against, it it now time to borrow from Anchor.
In the diagram below 1 ETH ($1800) of deposited/supplied collateral results in a maximum DOLA borrow amount (maximum credit line) of $1000 or 1000 DOLA. Borrowing a significant amount less (500) results in a much safer risk level.
Once you have chosen the amount that you would like to borrow, click the Borrow button and submit the transaction using your wallet.
You can use the Anchor Banking page to keep track of your DOLA borrow balance (which you will need to repay at some point) and your Borrow Balance / Limit ratio to make sure that you do not get liquidated.
In the below image, I have borrowed 50% of the maximum amount that I was permitted to borrow by the protocol. As the ETH price has not moved significantly I still have a healthy Borrow Balance / Limit factor of 49.96%
The interest accrued from your borrowings is added to your borrow balance, therefore the amount/quantity/balance of borrowed assets that you need to repay will grow over time.