How To Borrow

To borrow on Danogo, users must provide sufficient collateral—Tokens, qTokens, or dTokens. Borrowing requires one transaction without collateral and another with collateral supplied.

Step 1: Connect your wallet

Step 2: Choose a token to borrow

• On the screen, click on the “Borrow APR” of the asset you want to borrow.

• Select "Borrow" in Danogo Float

Step 3: Select and enter the collateral

• Choose collateral from the list of allowed tokens in your wallet. You can use up to a maximum of three types of collateral for each loan.

• Enter collateral amount

Step 4: Supply collateral to earn interest. (If you do not choose to supply collateral, skip this step.)

• Check the “Supply collateral to earn interest” checkbox if you want to earn interest from your collateral. Make sure the entered collateral amount is at least the minimum required for a successful supply.

Step 5: Enter the borrowed amount

• Enter the desired loan amount. The maximum borrowable asset amount is calculated based on the collateral entered above.

Step 6: Review the loan

• The system automatically calculates the Health Factor (HF) based on the entered collateral amount and borrow amount. Make sure HF > 1 to successfully create a loan.

Step 7: Confirm & Sign