⬇️How to borrow on OzProtocol?

To borrow money or bitcoin , borrowers normally need to deposit atleast 100% in cryptocurrency as collateral.

To apply for a crypto loan , users need to signup for decentralized lending platform like Strata. Next , users will choose the collateral to be deposited as well as the type of loan and amount need to borrow.

User can borrow the tokens from the pool under the contract.

1. Initially , you need to enter the amount of borrow token.

2. Once submitted, you need to confirm and you know the gas fees, time duration , amount etc in the display.

3. Once you confirm, then borrow contract has been integrated. Now, you have been borrowed successfully.

3. Then the next process is to add borrow transactions on the specific box Now you can repay your borrow amount anytime by clicking the repay button. When you repay your borrow amount, your debited NYMPH coin will be credited to your account.