Repayment and currency
How and when do I pay back my loans on UX?
You can repay your loans by accessing the UX web app and selecting the loan you wish to repay. There's no set due date for repaying your loans, as long as you maintain a healthy LTV ratio.
However, the accrued interest will grow over time, so it’s recommended to pay off small amounts from time to time, to ensure your health factor does not decrease heavily. (see borrow APR).
This methodology ensures a more stable and secure borrowing environment amid price fluctuations.
In what currency do I repay my loans on UX?
When it comes to paying back loans, the currency used for repayment is the same as the crypto that was borrowed. For instance, if you borrowed $100 in USDC, you will be required to pay back $102 in USDC after a year, assuming an interest rate of 2%
