Repaying Loans
Repaying your loan on Udon Finance is a crucial step that allows you to complete the borrowing cycle, enhance the safety of your collateral, and eventually reclaim full control of your assets.
1. Initiating Repayment from Your Borrowed Assets
Your Udon Finance dashboard provides a clear overview of all your active borrowing positions.
Locate Your Borrowed Asset:
On your dashboard, navigate to the "Your Borrow" table. This section lists all the assets you have currently borrowed from Udon Finance.
Click the "Repay" Button: Find the specific asset you wish to repay (e.g., CHR) and click the "Repay" button located in its row within the "Your Borrow" table.
2. Understanding the Repay Pop-up
Upon clicking "Repay," a dedicated pop-up will appear, providing all necessary information for your transaction.
Review Repay Details: The "Repay" pop-up will display important information to guide your decision:
Remaining Debt: The total outstanding amount of your loan, including any accrued interest.
Health Factor (Projected): This vital metric shows how your Health Factor will improve after the proposed repayment. Repaying your loan will always increase your Health Factor, moving you further away from liquidation risk.
Repay Amount: The input field where you will specify the quantity of the asset you wish to repay.
3. Executing the Repay Transaction
Once you have reviewed the details and entered your desired repayment amount, you can proceed with the transaction.
Enter Repay Amount & Verify Information:
Input the exact amount of the asset you wish to repay into the designated field. Double-check all information presented in the pop-up, particularly the projected Health Factor and the Remaining Debt, to ensure everything aligns with your intentions.
Click "Repay" and Confirm in Wallet: Click the main "Repay" button within the pop-up. Your connected wallet (e.g., MetaMask) will then display a separate pop-up or notification asking for your transaction confirmation. Review the details of this transaction and click "Confirm".
4. Verifying Your Updated Borrow Position
After successful confirmation, your dashboard will automatically update, reflecting the reduction in your outstanding loan.
Dashboard Update & "Your Borrow" Adjustment: The Udon DApp will refresh to display the updated data. The quantity of the asset you just repaid will be deducted from your "Your Borrow" table on your dashboard, showing your new outstanding debt
Review Your Health Factor: Notice that your Health Factor on the dashboard will also have improved, reflecting the increased safety of your position. If you fully repaid the loan, the asset will no longer appear in "Your Borrow" table.
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