Deposit & Borrow: A Detailed Example

The following example provides a step-by-step guide on how to deposit USDC and borrow USDA on Mek Finance:

1. In the "Dashboard", select USDC then click "Deposit".

1. After entering the USDC amount, click on "Approve USDC", and proceed to sign the transaction authorization within your wallet. Please note if this is your first time, you may need to establish a "custom spending limit per transaction" in your wallet, which can be adjusted according to your preferences.

1. After setting the "custom spending limit per transaction", click on "Deposit" again. When you see the confirmation, click on "Done".

1. In the "Collateral" section, toggle the switch corresponding to USDC, then click "Submit", authorizing USDC to serve as collateral within your wallet.

1. After authorizing USDC to serve as collateral, click on "Your Borrowings" to switch to the user borrowing interface. Locate the USDA section and click "Borrow".

1. When the pop-up window appears, enter the desired amount of USDA and click "Borrow". Users should monitor any fluctuations in the health factor to prevent potential liquidation.

"Safe borrow limit" represents the maximum threshold for borrowing safely without the risk of liquidation. Exceeding this amount will result in a health factor ≤1, leading to account liquidation.

1. Once you've borrowed USDA, you have the option to stake them in the "Manage" interface to earn MEK-based interest. To repay the loan, click on the "Repay" option and settle the loan amount along with the associated interest.