How to Burrow: A Step-by-Step User Guide

What is Burrow?

Getting Started

New to NEAR?

Connect Your NEAR Wallet

How to Supply

  • NEAR
  • stNEAR (staked NEAR)
  • ETH
  • wBTC
  • USDT
  • USDC
  • DAI
  • BRRR (Burrow’s native token)

1. Go to “Deposit” and choose the asset to supply

2. Select the amount you’d like to deposit and submit your transaction.

3. Once you have deposited your assets, you now have two options:

4. Approve the transaction in the NEAR wallet prompt.

How to Borrow

1. Designate your assets as collateral

2. On the “Borrow” page, select the asset you want to borrow

3. Enter the amount you want to borrow, keeping in mind the resulting Health Factor

What is the “Health Factor?”

  • If the health factor is higher than 100%, it means the account is in a good state and can’t be liquidated.
  • If the health factor is less than 100%, it means the account can be partially liquidated and can’t borrow more without repaying some amount of the existing assets or providing more collateral assets.

What is “Liquidation?

  • The collateral decreases in value (e.g. wNEAR price decreases from 20$ to 10$)
  • The borrowed debt increases in value

TL;DR

  • Green: Your funds are (generally) safu
  • Yellow: Risk is moderate
  • Red: Your funds are at a high risk of being liquidated

Warning

  • We recommend users DO NOT set the collateral utilization rate at 100%. You are asking to be liquidated!
  • The Health Factor can change if the price of the underlying assets change to a great degree. We recommend users monitor their Health Factor from time to time, especially if there are rapid changes in market conditions.

4. Submit and approve the transaction

How to Manage Your Assets

Net APY

Withdraw

Adjust Collateral

Repay

Deposit NEAR, Repay with wNEAR?

Coming Soon: xBRRR Staking!

Become a Burrow Hog

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