Magpie

How to borrow

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Borrowing means posting collateral and taking a loan against it. Because it happens through your Listapie vault, the loan earns LISTA borrow emission. On boosted markets that can be larger than the interest, giving a negative net rate. You need a vault first; see Quick start.

Step by step#

  1. With more than one vault, pick the one to borrow through in the header’s Vault menu first. Each vault has its own collateral, debt and health factor. See Multiple vaults.
  2. Open Borrow. Each row is a market: the asset you borrow, the collateral it accepts, the borrow rate, Max LTV and available liquidity. Filter by Term (flexible or fixed), collateral, asset or curated vault, or tick Smart Collateral or Boosted.
Borrow page: Classic, Aster and bStocks tabs, search and Term, Collateral, Asset, Vault filters, Smart Collateral, Boosted and Only my borrows checkboxes, and a market table with borrow rate, Max LTV, total borrowed and available to borrow
The Borrow page. A negative rate with ⚡ means LISTA emission exceeds the interest.
  1. Read the Borrow rate. A ⚡ pill means LISTA emission is netted in; hover it for base rate − LISTA emission = net rate. See Rates & net APY.
Hovering a boosted borrow rate: Base rate 3.01%, LISTA emission (boosted) −6.31%, Net rate −3.30%
The net rate on hover: interest minus the boosted LISTA emission.
  1. Click a market to open its page, or Borrow on its row for the same panel in a dialog (Add / Borrow tab).
  2. Add collateral: enter an amount and confirm. Most tokens need an approval first; native BNB doesn’t.
Add / Borrow panel of the lisUSD / BNB market: 0.5 BNB entered under Add collateral, sent as native BNB, with the Add collateral button; below, the Borrow section, Borrowable now, Max LTV 85% and Health factor 2.09
Step 1 in the panel: add collateral. Native BNB is sent with the transaction, no approval.
  1. Borrow: enter the amount. Watch Borrowable now and the projected health factor; stay well above 1. The loan token is sent to your wallet.
Borrow section with 100 lisUSD entered: Borrowable now 323.9977 lisUSD, Max LTV 85%, Health factor 2.09 → 1.57, Liquidation if price drops −36.2%, and the Borrow button
Step 2: the panel previews the health factor after this borrow (2.09 → 1.57) and how far the price can fall.

Once it confirms, the market’s stats row shows your position:

Market stats row for lisUSD borrowed against BNB: My position with collateral $734.88 and borrow $298.81, Health 2.09 with liquidation if price drops −52.2%
My position and Health, at the top of the market page.

Managing the position#

Repay / Withdraw tab: 50 lisUSD entered under Repay with current debt 300 and wallet balance 300, health factor 2.09 → 2.51, the approval note and Repay button; below, Withdraw collateral with collateral 1 BNB
The Repay / Withdraw tab: repaying previews the health factor going up (2.09 → 2.51).
  • Repay / Withdraw tab, with the vault that holds the loan selected: repay part or all of the debt, then withdraw collateral once your health factor allows. To close fully, hold the whole debt (plus a little for interest that accrues meanwhile) in your wallet before choosing Max.
  • If the collateral price falls and your health factor drops below 1, the position can be liquidated. Add collateral or repay early; see Health factor & liquidation.
  • LISTA borrow emission is claimed from Dashboard → Rewards. The boost covers borrows up to your tier’s borrow cap; see Boost caps.

Market types#

  • Fixed-term markets lend for a set duration at a fixed APR through a broker; early repayment carries a fee. See Fixed-term markets.
  • Smart collateral markets accept a stable-pair LP token; the panel mints it for you from the two tokens. See Smart collateral.
  • BNB and slisBNB collateral is supplied through Lista’s collateral provider for that market. Native BNB is sent with the transaction; slisBNB needs an approval to the provider.
This is leveraged DeFi: rates move, collateral can lose value, and liquidation is real. Start small and keep a healthy buffer below Max LTV.
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