How to Create Floating Interest Rate Loans

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