Borrow

The Borrow feature provides a unique opportunity for users to leverage their Ethereum (ETH) holdings as collateral to receive MPET tokens.

Using ETH as collateral:

The Borrow system allows users to use their held Ethereum (ETH) as collateral. This means that users can temporarily lock a portion of their ETH holdings to access MPET tokens.

Conversion rate: 1 ETH = 10,000 MPET

Collateral value limit:

Users can borrow up to 100% of the value of the ETH they provide as collateral. This ensures responsible borrowing limits while allowing users to maximize their existing assets.

Receiving MPET tokens:

Once the ETH collateral is successfully sent, the user will receive the corresponding number of MPET tokens. These tokens can be used in the Mar3 Virtual Pet ecosystem for various purposes.

Repaying with MPET tokens:

To retrieve the ETH that has been collateralized, the user must repay the MPET that has been borrowed. This process essentially acts as a means of repayment. By using MPET tokens, the user can retrieve their original collateral.

The Borrow feature in Mar3 Virtual Pet opens up exciting opportunities for users to leverage their existing ETH holdings to access MPET tokens. It is a way to maximize your assets and actively participate in the Mar3 Virtual Pet ecosystem. By using this feature responsibly, users can unlock additional value and enhance their overall experience in the platform.