The key feature NAVI offers is overcollateralized lending/borrowing. This means you can supply an asset as collateral and borrow out another type of asset (check out the Supplying & Earning section for more info). Please see the below steps for the details
Before borrowing, you need to make sure you have deposited assets as collateral. The maximum amount that users are eligible to borrow depends on the value of deposits, asset type, and the assets' available liquidity.
Once depositing your assets as collateral, select the assets to borrow from the dashboard page.
Click on “Borrow” at the bottom of the panel, and input the amount to borrow using number input, max, or the slider
Click on ”Confirm” and approve the transaction on the pop-up wallet. Please be aware that the transaction is finalized after approval in the wallet. Sui wallet does not have the 2-step( approve and proceed ) process as the majority of EVM wallet does.
The assets supplied by the user will affect the maximum loan value. The loan amount is limited based on the health factor. When the max button is clicked, the minimum health factor that the user can achieve will be calculated, formula is:
You repay the loan in the original format of the asset one borrowed. For example, if you borrow 1 Sui initially, you need to pay back 1 Sui + interest accrued(in Sui). You can only repay with your wallet balance, not collateral.
If you have debts, the debt amount and "Repay" button will appear at the top of the operation area. Click the Repay button to the next step.
Enter the amount to repay, the tokens will be deducted from your wallet balance.
Click on the “Confirm” button and approve the transaction in Sui compatible wallet
Once the transaction succeeded, the loan is repaid at the input amount.