ONUS Announces New Updates to Crypto Loan Feature, including: enable Crypto Loan for new assets, close Crypto Loan for some assets, and update loan limits for each asset.
*The new updates will be applied from February 23, 2024.
1. Enable Crypto Loan for several new assets
List of new assets in Crypto Loan feature:
Asset | Loan Limit (%) |
OP | 75% |
ARB | 75% |
DYDX | 75% |
XAI | 50% |
AI | 50% |
SEI | 50% |
SUI | 50% |
APT | 50% |
Loan Limit:
Users can collateralize the above assets to receive a loan with a limit of 50-70%, disbursed in VNDC based on the asset’s value at the time the loan is created.
Interest Rate:
The annual interest rate is 24% (equivalent to 0.066%/day, 0.47%/week, or 2%/month). Customers can choose to pay interest daily, weekly, or monthly.
Liquidation:
- When the value of the collateral reaches 85% or more of the outstanding loan balance, the system will proceed to liquidate the collateral.
- You can partially or fully repay the loan to avoid asset liquidation.
- ONUS will charge a liquidation fee of 2% on the total outstanding loan balance of the liquidated loan in the Crypto Loan feature.
2. Close Crypto Loan for some assets
ONUS close Crypto Loan feature for 03 assets below:
- USDO
- AAPL
- BAKE
3. Others Update
ONUS has updated the loan limit and liquidation threshold for all assets. Please check the details on the application.
Learn more about Crypto Loan features here.
