borrow
mint fxTokens using ETH and more..
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mint fxTokens using ETH and more..
Last updated
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participants which use handle.fi borrow mechanism can mint a range of fxTokens through the use of an over collateralised debt position. the individual collateralized debt positions are called vaults.
users lock up collateral to an and may issue a range of handle.fi's fxToken stablecoins to their address. initially accepted collateral will be ETH however over time additional collateral will be added; including a range of ERC20 tokens and later, the platform's own $FOREX token.
initial proposed fxTokens that can be minted are:
fxUSD - United States Dollar.
fxAUD - Australian Dollar.
fxCNY - Renminbi.
fxEUR - Eurodollar.
FxJPY - Japanese Yen.
fxKRW - Korean Won.
fxCHF - Swiss Franc.
fxSGD - Singapore Dollar.
a protocol fee of 0.0% is charged to mint fxTokens.
there are some important metrics to be aware of when electing to open up a vault. they are:
interest rate: the rate is currently set at 0.40% for all fxTokens. the rate is variable and determined by the DAO.
minimum collateral ratio (c-Ratio/ CR): in order to ensure each fxToken of debt is appropriately backed the amount of debt issued needs to be managed relative to the collateral posted. the minimum c-ratio in order to mint fxTokens is 200%. more information about min c-ratio and how liquidations work can be found .
liquidation fee: when a c-Ratio falls below the threshold then a fee is charged out of the vault issuer's collateral. the fee is currently 10% and is determined by the DAO with 50% going to fxKeeper pool & 50% to the protocol.
will accrue to fxToken minters, but only for users that maintain a c-Ratio greater than their vault's required minimum c-Ratio.
for a complete tutorial on how to make a loan see this
