Open Trove
Last updated
Last updated
Navigate to Troves page: https://www.lyvefi.xyz/borrow and select which type of Trove you are going to open , click on the item and go to the open trove page
Input the collateral you want to put in and the $LYU you want to borrow , there is a minimum LYU requirements ( 2000 on ETH mainnet and 1000 on Linea ) and maximum LTV ( Loan to Value )
Borrowing Fees: A one-time 0.5% upfront fee is charged for loans longer than 6 months. Short-term borrowers get incentives through a partial refund mechanism.
Total Debt: The total amount of LYU that you are borrowing in the form of debt against the collateral deposited in your Trove.
Loan-To-Value: The ratio between your collateral deposit and borrowed LYU value. Lower LTV is safer, higher LTV is riskier.
Est. Debt Ahead: Amount of LYU available for redemption in Troves with a higher LTV than yours. The lower the amount, the more likely it becomes for your Trove to be redeemed against.
Liquidation Price: This is the price that your collateral token would need to reach for your Trove to be liquidated.
Fee Refund: If the user repays their debt within six months, they will receive a pro-rated refund of the 0.5% fixed borrowing fee for the time elapsed, with a minimum of one week's interest.
