How it works
Learn how to deposit ICX as collateral, borrow Balanced Dollars, claim rewards, swap assets, supply liquidity, participate in governance, and liquidate high-risk positions.
Before you can take out a loan, you'll need to deposit ICX as collateral:
- Click Deposit in the collateral section and choose the amount.
- Check the loan section to see how much is available to borrow.
- Click Confirm and complete the transaction.
Your ICX will be staked, and the deposited ICX value will increase over time to reflect your staking rewards. You’ll receive sICX when you withdraw, which you can swap for ICX or unstake from your wallet.
Tip: If you only care about staking rewards or want to avoid all risk, swap your ICX for sICX on the trade page instead.
Take out a loan.
Borrow Balanced Dollars for a one-off, 1.15% fee. Use bnUSD for payments, leverage, or liquidity, and earn Balance Tokens (BALN) if you borrow at least 50 bnUSD and keep your risk below the 'All collateral locked' threshold.
- Click Borrow in the loan section and choose the amount (minimum of 10 bnUSD).
- Use the position details section to assess your risk ratio.
- Click Confirm and complete the transaction.
Some or all of your collateral will be locked until you reduce your loan. You can only repay what’s available in your wallet, so you can always buy more bnUSD on the trade page.
Monitor and adjust your position.
To earn Balance Tokens, keep your risk to the left of this threshold.
To withdraw any collateral, keep your risk to the left this threshold.
If your collateral ratio is above 900%, you have a low risk of liquidation.
If your collateral ratio falls below 150%, your position will be liquidated.
Traders can repay loans by selling bnUSD for $1 of ICX collateral. Your position will sometimes rebalance to accommodate.
Use the position details section to monitor your risk and make calculated adjustments. It includes the price ICX has to reach before you no longer earn rewards, all your collateral is locked, and your position gets liquidated, so you can set price alerts for greater peace of mind.
While you borrow from Balanced, your position can be rebalanced to keep bnUSD close to $1. If the price gets too high, collateral is sold and debt repaid. If it gets too low, debt is increased and used to buy more collateral. The rebalancing section shows the net change it makes to your position. Learn more about rebalancing.
Claim Balanced rewards.
Earn Balance Tokens every day you hold a loan of at least 50 bnUSD, or supply at least $50 to a liquidity pool.
You can claim Balance Tokens from the rewards section after 1pm Eastern each day. Stake BALN from the wallet section to earn a share of the network fees, also distributed daily.
View and manage assets.
View your balances from the wallet, and use it to send assets, stake/unstake Balance Tokens, unstake sICX, track unstaking requests, and deposit sICX as collateral.
Click an asset to reveal the actions it has available.
Exchange ICON assets on the trade page for a 0.3% fee, or convert ICX to its staked counterpart, sICX, for free.
In the swap section:
- Select an asset to swap, and a compatible asset to receive.
- Enter an amount for one of the assets. The other will automatically fill based on the current rate, with any fees factored in.
- Check the minimum you’ll receive if the price moves against you, and adjust your slippage tolerance (up to 10%) if necessary.
- Click Swap and complete the transaction.
Supply assets to a Balanced liquidity pool to earn BALN and a share of the trading fees. Non-Balanced pools may offer their own incentives.
Make sure you understand the risk of impermanent loss before you start.
In the supply liquidity section:
- Choose a liquidity pool. All pools require two assets except ICX/sICX.
- Use the slider or enter an amount, then click Supply.
- Click Send to move each asset, then click Supply and complete the transaction.
Assets supplied to a BALN-incentivized pool will be locked for the first 24 hours. If you supply more liquidity to the same pool within that time, the lockup period will be reset.
Your supply ratio will flucutate based on the asset prices, so keep an eye on it from the liquidity details section. You can withdraw your assets at any time after the initial lockup period. Learn more about the Balanced liquidity pools.
Participate in governance.
Have your say on the future of Balanced. To view and discuss potential changes to Balanced, join the Balanced forum. When a proposal is ready, it’s submitted on Balanced and you can vote to approve or reject it from the vote page.
Voting is open for 5 days, and you’ll need to have BALN staked or in a liquidity pool to participate. For a change to be approved, at least 20% of eligible BALN needs to vote, and 67% need to be in favor.
Liquidate high-risk positions.
Set up a liquidation bot to earn even more from Balanced. In exchange for a 10% profit, you can use the bot to cover the debt and liquidate any position that crosses the liquidation threshold. Learn how to profit form liquidation events.