InstaBorrow

Borrow & Send
Share CDP
Get Alerts

Issue / Collateral ratio (%)

Status

DEBT (DAI)

...
PAYBACK
Balance: 0
GENERATE
Maximum: 0

COLLATERAL (ETH)

...
WITHDRAW
Maximum: 0
DEPOSIT
Balance: 0

CDP ID (MakerScan)

ACCRUED FEES (0.5%)

LIQUIDATION PRICE

ETH PRICE

Borrow FAQs

What the heck is CDP?
CDP is Collateral Debt Position in full. A CDP helps in generating a specific amount of DAI stablecoin (USD pegged tokens) against the collateral (which is ETH currently) to lock up in the CDP to secure the loan i.e. the DAI you generated.
What are the benefits of opening a CDP?
You can generate liquidity by generating DAI stablecoins without giving up ownerships of your collateral (in this case, your collateralised ETH) , making sure your CDP holds enough collateral to cover the value of the collateral ETH.
How does it work?
Connect your wallet. Determine the amount of loan you want to borrow, then decide the amount of ETH you want to lock in the CDP, you generate the DAI stablecoins against the ETH you locked up, and spend them as you wish. You can pay back the DAI stablecoins when you no longer need the liquidity, together with stability price (which will be added to the overall debt), and then you can redeem the collateral you locked up.
Is there any risk involved in creating a CDP?
Always make sure that the value of ETH locked up is always more than 150% of the DAI stablecoins that you’ve generated. Which means, you can only take DAI loan up to 66% of the total ETH collateral value in USD. If the value of the collateral comes near 66%, in this case you can add more collateral or pay back some of your debt. If the value of the issue / collateral ratio falls above 66% then your CDP will break i.e will be liquidated. This means that your collateral will be sold in order to cover the value of the DAI stablecoins you generated. Otherwise, any leftover collateral will be returned to your CDP, so you can redeem it.
What are our fees?
At the moment, there are no platform fees for InstaDApp users. The only fee drawn is the gas fee needed to pay for the transaction on the Ethereum network and 0.5% stability fees paid in ETH to MakerDAO protocol. Note, that your wallet address must hold a certain amount of ETH in order to pay for the fees.
How can I contact the support team?
You can reach out to us on twitter , telegram or by email. Feedbacks and queries are always welcome.

@ 20xx InstaDApp. All rights reserved.