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How to Borrow From External Market

Concrete offers an efficient interface to initiate borrowing on external markets such as Aave, leveraging its optimization features to secure the best rates. Here's how to proceed:

Step 1: Connect Your Wallet​

  • From the Concrete dashboard, click Connect to link your wallet. Ensure the wallet is compatible and holds sufficient collateral.

Step 2: Navigate to the Borrow Tab​

  • Go to the Borrow tab. Here, you'll find a list of available borrowing opportunities.

Step 3: Select Supply and Borrow Assets​

  • Choose the asset you wish to supply (e.g., WETH).
  • Select the asset you want to borrow (e.g., USDC).
  • You can also specify the external market where you'd like the transaction to take place. For instance, choose Aave as the borrowing platform.

Step 4: Initiate the Loan​

  • Click Open Loan.
  • In the subsequent window, enter the amount of the selected collateral (supply amount) and the amount you wish to borrow.
  • Review the provided details such as:
    • LTV (Loan-to-Value) percentage
    • Asset Prices (current collateral and liquidation prices)
    • Net APR (interest rate post-optimization)

Step 5: Confirm and Finalize​

  • Once satisfied, click Continue.
  • You'll be prompted to approve the transaction through your wallet.
  • After final confirmation, your loan is successfully opened on the selected market, with optimized rates provided by Concrete.