Borrow

Credit accounts

Opening an account, funding it, borrowing more, repaying, and what each of those checks.

Opening

Open account creates your credit account, moves the USDC you post from your wallet into it, and borrows from the pool into it, all in one transaction. Both amounts arrive as cash.

The account has to finish at a health of 1.10 or more, and the pool has to hold enough cash for the loan. Because cash counts in full, an account that keeps everything in cash can borrow up to ten times its collateral:

collateral + borrow  ≥  1.10 × borrow     ⟺     borrow  ≤  10 × collateral

Opening pays rent for five accounts, about 0.0104 SOL. Each wallet opens once; after a close the account stays, and you can fund it and borrow again.

Funding

Fund moves USDC or SOL from your wallet into the account; SOL is wrapped on the way in. Only the owner can fund an account.

Funding USDC raises health. Funding SOL doesn't change it, because SOL counts for nothing; you fund SOL to pair it with USDC in an Orca position.

Borrowing more

Borrow adds to the debt and puts the USDC in the account as cash. It goes through when:

• you own the account,
• the pool isn't paused and holds that much cash,
• health is 1.10 or more afterwards, with every holding valued.

The Borrow tab shows the most you can borrow right now: the smaller of what the pool holds and what keeps the account at 1.10.

Repaying

Repay takes USDC from your wallet and pays down the debt. Anyone can repay any account; it doesn't have to be the owner. Repaying needs no health check, works below 1.00, and works while the pool is paused.

If you enter more than the debt, only the debt is taken. The debt is rounded up to the smallest unit of USDC, and a repayment never takes more than you entered.

Interest

Debt grows with the pool's borrow rate. Interest accrues whenever anyone uses the pool, so the debt the app shows includes interest up to the current block time. See Interest rates.

Taking funds out

Funds leave the account three ways, and only to the owner:

• At the end of a move, as a withdrawal of USDC or SOL, if the account still ends at 1.10 or more. See Moves.
• By closing, which repays the debt and returns everything. See Closing and release.
• By release, once the debt is zero.

Each of these is a single instruction of the program; Instructions lists their exact arguments and checks.

Next

• BorrowHealthHow the program values an account: only USDC it could get out, a share of each, divided by the debt. The 1.10 line to act and the 1.00 line for liquidation.
• BorrowMovesOne transaction that moves funds between cash, Save and Orca: begin, up to nine steps, end. Either all of it lands healthy or none of it happens.