Whitelisted Assets
Users can borrow up to the Minimum Borrowing Collateral Ratio (for example 1 BEUR for every 1.3 EUR worth of ETH). The troves will be liquidated if the collateral ratio falls below the Minimum Liquidation Collateral Ratio
Current Whitelisted Tokens | Minimum Collateral Liquidation Ratio | Minimum Borrowing Collateral Ratio |
|---|---|---|
120% | 200% | |
120% | 200% | |
105% | 125% | |
105% | 125% | |
200% | 500% | |
105% | 125% | |
105% | 125% |
The MCR for each trove is the ratio between the value of the collateral (number of tokens * token price) divided by the BEUR debt. The BEUR is always valued at 1 EUR for this calculation.
In order to protect the users of the Bonq app against fat finger mistakes or other unintended actions, the UI limits the borrowing to a higher collateralisation ratio. This is a UI function and is not enforced in the smart contracts. If you interact with the smart-contracts directly (on polygonscan.com) you will be able to reduce the MCR to the minimum. Beware of doing so, as the slightest dip in token price will cause your trove to be liquidated, Leon knows no mercy.
Last modified 1mo ago