Borrowing with Hifi

A quick tutorial on how to borrow with Hifi.

Step 1

Head over to hifi.finance and click on Lend & Borrow in the top menu. This will automatically launch the app for you.

Step 2

Read the disclaimer, it is there to warn you that we are still in beta and to not use money that you cannot afford to lose. Hit Accept and Continue when you are ready to borrow.

Step 3

Click Borrow in the top menu of the app. Make sure the connected wallet has some ETH to pay for gas and Wrapped Bitcoin to borrow against.

Step 4

Click into the deposit input field and type in the amount of WBTC you would like to borrow against. If you want to deposit it all, hit Max.

Step 5

Click into the borrow input field and type in the amount of USDC you would like to borrow. Click Deposit & Borrow!

Step 6

A dialogue will pop-up informing you of the steps you need to complete in order to deposit and borrow. In Metamask, set-up your ds-proxy by clicking confirm. Then confirm that you are giving the app permission to interact with your WBTC. Click confirm one last time in Metamask to deposit your WBTC and borrow USDC. Once you have successfully completed your deposit and borrow, you will arrive on a confirmation screen. Close the confirmation to go back to the Borrow screen.

Step 7

Your collateral and debt positions will appear above the dialogue box. This is where you can either payback your debt or withdraw your collateral.

Step 8

Start using your USDC!