1. UPay Crypto Loans is a demand borrowing product with no fixed term and a floating interest rate, designed to meet your short-term liquidity needs through capital provision. Traders can obtain liquidity through borrowing without having to sell their cryptocurrency. Currently, BTC and ETH are the two digital currencies supported for borrowing.
2. Key Features
-Floating interest rates:
Your APR will fluctuate depending on market conditions
-Flexible Terms:
You can repay your loan at any time without the fear of late fees
-Diverse Loan Uses:
The loan asset on UPay supports a variety of functions, including but not limited to convert, deposits, and remittance services.
3. Getting started
Simply visit the UPay Crypto Loan home page and follow the instructions.
-Managing your loan:
Adjust your loan and collateral amount any time by going to the Borrow Order details page.
-Repaying your loan:
Go to the Borrow Loans page and select repay. We support partial and full repayments.
4. Loan-to-Value Ratio (LTV) for each loan order = (Loan Amount + Accumulated Interest) / Value of Pledged Assets. *Accumulated Interest is the sum of daily interest.
5. When the Loan-to-Value (LTV) ratio exceeds the warning line, the system will prompt you to add more pledged assets; if the LTV exceeds the liquidation line, the system will immediately proceed with forced liquidation.
6. During forced liquidation, the system will convert all pledged assets into the borrowed currency type at market price to repay the loan and interest. A percentage of the remaining loan amount will be charged as a settlement service fee.
Please replenish your collateral assets promptly to avoid forced liquidation. If additional margin is needed or forced liquidation occurs, users will receive notifications via in-app messages, email, and SMS.
*These notifications are only intended as risk warnings, and UPay cannot guarantee their timely delivery.
7.Daily Interest = Loan Amount*Daily Interest Rate. Daily interest is not actually deducted from your balance but is calculated and added to the accumulated interest, affecting the LTV. Interest for the loan day is accounted for at the time of the loan, and subsequent daily interest is recorded at 00:00 (UTC+0) each day.
*When repaying the loan, interest expenses are prioritized.
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