Advance mode: Borrow other assets

This feature allows users to utilize their BANK collateral to borrow other assets such as ETH, USDT, and more. Provides an opportunity to access additional liquidity while maintaining the safety of the collateralized BANK assets.

To ensure a secure borrowing experience, BaseBank implements a maximum borrowing limit. Users can borrow up to 20% of the value of their BANK collateral. This restriction is in place to protect the integrity of the collateral and maintain a healthy borrowing environment. It is important to note that the borrowing rate may be subject to change based on prevailing market conditions and platform policies.

The interest rate for borrowing in the "Advance mode" is set at 0.1% daily. However, it is worth mentioning that the interest payment is denominated in BANK, the native token of the BaseBank platform. Borrowers are required to repay the interest amount in LIN tokens as per the agreed-upon terms and conditions.

BaseBank offers increased flexibility and liquidity options by allowing users to borrow other assets against their BANK collateral. This feature enables users to access established and trusted assets such as ETH and USDT, which have a strong market presence and a proven track record.

BaseBank prioritizes the security and stability of its platform, and the "Advance mode" is designed to provide users with a reliable borrowing experience. Leveraging BANK collateral allows users to access additional assets while mitigating potential risks confidently.

It is essential for users to carefully consider their borrowing needs, assess their collateral value, and understand the terms and conditions associated with borrowing in the "Advance mode." By doing so, users can make informed decisions and effectively utilize this feature to meet their financial objectives on BaseBank.

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