Users can perform partial, or total repayment of their loans.
Users can repay the loan and the accrued interest through the borrow section. There is no requirement to pay interest at a fixed interval and the user may make partial or complete payment of interest at any time. The protocol will first use the asset amount to repay the accrued interest and the rest for repaying the loan principal.
When the users pay their borrow interest, they receive an amount of frToken as a reward for this payment. The frTokens received can be exchanged with the available tokens on the Rewards Aggregator page. To better understand how the frToken and Rewards Aggregator work, look at the dedicated page.
Users can perform partial or total repayment of their loans. The repay borrow widget instantly reports the updated information regarding the loan position. In particular, it shows:
- the updated borrow balance
- the remaining amount to pay
- how much interest the user has to pay
- 1.Reach the borrow page in the navigation bar of the web app.
- 2.From the My Borrow section select the asset related to the loan you want to repay.
- 3.By clicking on the desired asset, a dedicated widget appears. Switch to the Repay tab and type in or use the slide bar to specify the token amount you want to repay.
- 5.Confirm the operation.
- 6.You will receive a message indicating success if the process has been completed properly.
If you are using Pera Wallet, please, remember to confirm the operations from your smartphone.