How to borrow?
Follow this guide to borrow on MethLab.
INFO
You need to be on the Mantle Network and have some MNT for gas to use MethLab. To get MNT, you can bridge using Mantle Bridge or use the DEXs like Agni Finance and Merchant Moe. Refer ChainList to add Mantle Network or change your RPC in the wallet. To read more about Mantle Network, refer mantle.xyz.
(Setup) Use the DEXs/Bridge to get the collateral tokens.
Use these tokens as collateral to borrow on MethLab.
Use MNT to pay for gas on Mantle.
Step 1 - Choose your Playground and Navigate to Borrow Zone
Choose your playground: mETH Lab or MNT Station. Walk towards the Borrow Panel. Once you are close to the Borrow Zone, press
Eon your keyboard to interact with the Borrow Panel.mETH Lab is the land of Liquid Staked Ether by Mantle LSP. It lists $mETH, $USDY, and $USDT. MNT Station is home to Mantle L2's native asset MNT. It lists $MNT, $USDY, and $USDT.
Step 2 - Select the Borrow and Collateral Asset and Enter the Amount
Once on the Borrow Panel, select the asset you wish to Borrow. Enter the amount as needed. Choose the asset you're offering as Collateral. Ensure your wallet has the required amount of Collateral.
You can only borrow the maximum liquidity available in the Bucket. You may be matched with multiple lenders.
Step 3- Choose the Bucket
Choose a Bucket. Each Bucket is made up of a) Duration b) APR. Duration is the term of the Loan which starts once your Intent is matched. Choose between various durations to match your strategy.
Each Bucket has it's own liquidity. The I-LTV metric indicates the proportion of current Borrow worth to the current value of your Collateral. Higher the I-LTV, the more you can borrow against the same collateral.
Step 4- Make the Transaction
Click on 'Connect Wallet' and choose your Wallet provider.
Click on CREATE LOAN to publish your Intents and Borrow. This will involve a) Approval to escrow the Collateral b) Creation of Loan Contract
Congratulations🎉! You have successfully borrowed on MethLab🥳.