This feature is coming soon.
Borrow is a feature that allows you to earn rewards on your assets, and optionally use your assets as collateral that you can borrow against.
Your assets start earning
Borrow-eligible assets in your account are supplied to a dedicated onchain lending market managed by ether.fi and earn yield automatically. Rates are variable and set by market supply and demand.
Your assets can be used as collateral for borrowing
All eligible assets act as collateral automatically, your Borrow page shows what is available to borrow based on your portfolio value, along with the APY (interest rate) for each asset. You can opt out of the lending market at any time in settings; your assets will then not earn interest, and you will not be able to borrow against your portfolio, you will also not be able to use your ether.fi credit card in Borrow mode - all other functionality is unaffected.
Borrow when you need it
Pick an asset like USDC or ETH, enter an amount, review the live preview of your new rate and loan-to-value, and confirm. Additionally, spend with your card in Borrow mode, where purchases automatically borrow against your assets instead of selling them.
Prefer no borrowing? Use your card in Direct Pay mode to spend your stablecoin balances 1:1
Repay whenever you like
There's no repayment schedule. Interest accrues only on what you've borrowed, for as long as it's outstanding, and you can repay part or all of a loan at any time. Your collateral keeps earning yield the whole time — even while backing a loan.
Staying safe
Loans must stay over-collateralized. Watch your loan-to-value (LTV), if it reaches the liquidation threshold shown in the app, some collateral is automatically liquidated to bring your loan back to a healthy level. The app will prevent you from accidentally borrowing too much, but market price movement will still affect LTV.
The app shows your current LTV, your liquidation level, and warnings when you're at risk. Reduce risk anytime by repaying part of your loan or adding more assets.
Turning Borrow off
Borrow is optional. You can turn it off in settings whenever you have no outstanding borrowed amount; your assets will no longer be used as collateral, and your card continues working in Direct Pay.
Ether.fi and the Borrow feature is not a bank deposit or savings account. Borrowing and lending results in a non-custodial Defi position. Rates are variable and not guaranteed, and borrowing against volatile assets carries liquidation risk.