How It Works
Step 1: Create an Account
Sign up on the Vixna platform by providing your basic information and verifying your identity.
Step 2: Deposit Cryptocurrency
Deposit your cryptocurrency into a secure collateral wallet. This collateral will be used to secure your loan.
Step 3: Apply for a Loan
Apply for a loan by specifying the amount you wish to borrow. The initial loan-to-value (LTV) ratio will be set at 70%, which means you will need to deposit collateral worth approximately 142.86% of the loan principal.
Step 4: Receive Loan
Once your Vixna is approved, the loan amount will be credited to your account. You can use this amount as you wish.
Step 5: Monitor Collateral
Regularly monitor the value of your collateral. If the loan-to-value (LTV) ratio reaches 90%, the collateral will be automatically liquidated to repay the loan.
Step 6: Repay Loan
Repay the loan according to the agreed terms. Once the loan is fully repaid, your collateral will be released back to you.
