Borrowing and Repaying
The information on this page and all other pages owned by, operated by, or related to Hector Network are for educational purposes only and does not constitute any kind of advice. Please read our Disclaimers page first.
Before using Hector Institute it is recommended that you read our guide on crypto loans and risk management.
In order to borrow crypto tokens, you will need to supply collateral to secure the loan. This is an easy process.
Connect your wallet by clicking the "Connect" button at the top right. You will be able to connect with either Metamask, or any wallet which supports WalletConnect.
Click "Connect" at the top right, then use Metamask or WalletConnect to connect your wallet
When your wallet is connected, the Hector Institute dashboard will show information about your open lending and borrowing positions. This will include your wallet balance, supplied liquidity, borrowed tokens, and APYs. If you have no open positions, or have not used Hector Institute before then this will be blank.
Next, supply tokens to the network by choosing a token in the Supply Markets section in the same way as stated in the Lending and Withdrawing Article. Then click the "Collateral" switch.
You may need to approve your chosen token for use as collateral. Please carefully read the box that appears. When you are ready, click enable and authorise the transaction.
Next, find the token you would like to borrow in the "Borrow Markets" section of the dashboard and click it. You may need to authorise the transaction.
NOTE: If you have not supplied collateral, or have already used all your collateral, you will be told that your borrowing limit has been reached.
Repaying a loan is a very simple process. Loans can be either partially or fully repaid.
Connect your wallet using Metamask or WalletConnect.
In the "Borrow Markets" section of the Institute, click the token loan you would like to repay. Then click the "Repay" button.
Then click repay at the bottom of the box that appears. You may need to approve the use of the token.