1. How Much Can I Borrow?
Loanable Amount = Collateral Value * Initial LTV
You may enter the collateral amount in “I want to collateralize” to check the Loanable Amount.
2. Can I Repay at Any Time?
You may repay closed-term and open-term Loan at any time.
Service fee will be charged for early repayments of closed-term Loans (Service fee = repaid principal * service fee rate).
One hour of loan interest will be charged for repayments made within an hour of borrowing.
3. Can I use Pledge Loan Assets for Earn or as Margin?
4. What is WhaleFin Cross Margin?
For cross margin on WhaleFin, all collateralized currencies will be calculated as total collateral, instead of an independent order-by-order calculation.
Due to different fluctuation rates for different currencies during volatile market conditions, cross margin can dilute the risk posed by a single currency, avoiding excessive risk ratio or forced liquidation.
5. What is Auto Top-up?
When LTV≥Margin Call, your available balance in the Wallet will be used for collateral top-up to avoid forced liquidation.
6. What is Excess Collateral Redemption?
When the rise of currency prices results in LTV<Redemption LTV, the user may redeem a portion of collateral.
7. What is Loan to Value Ratio (LTV)?
LTV = Loan value / Collateral value, an indicator for the user’s portfolio risk level.
Note: For WhaleFin cross margin, all collateralized currencies will be used to calculate total collateral and LTV.
8. What are Initial LTV, Margin Call, Liquidation Call, and Redemption LTV?
- Initial LTV
Maximum Loan amount = Collateral value * Initial LTV
- Margin call
When LTV≥Margin Call, Margin Call Notice/auto top-up will be triggered.
- Liquidation call
When LTV≥Liquidation call, WhaleFin will sell a portion of your collateral to repay your Loan, until your LTV equals Margin call.
- Redemption LTV
When LTV<Redemption LTV, the user can manually or auto redeem the excess collateral.