Accessing Simple Borrowings
Case1) Borrow $40 USDT against $100 TON
parameter
Risk Factor : TON - 40%
MaxRiskRatio : 80%, MaxLeverage : 300%
TON (B = b1)
$100
-
$100
$40
Native (b1)
$100
-
-
-
USDT (C = c1)
-
$40
-$40
$0
Native (c1)
-
$40
-
-
Total Value (B + C)
$100
$40
$60
$40
Risk status
Risk ratio = total risk value / net asset = $40 / $60 = 66.7% ≤ MaxRiskRatio ⇒ OK
Leverage = total supply / net asset = $100 / $60 = 167% ≤ MaxLeverage ⇒ OK
case1-1) Borrow +$20 USDT
TON (B = b1)
$100
-
$100
$40
Native (b1)
$100
-
-
-
USDT (C = c1)
-
$60
-$60
$0
Native (c1)
-
$40 +$20
-
-
Total Value (B + C)
$100
$60
$40
$40
Risk status
Risk ratio = $40 / $40 = 100% > MaxRiskRatio → Fail
Leverage = $100 / $40 = 250% ≤ MaxLeverage
case1-2) Borrow +$20 TON
TON (B = b1)
$100
$20
$80
$32
Native (b1)
$100
+$20
-
-
USDT (C = c1)
-
$40
-$40
$0
Native (c1)
-
$40
-
-
Total Value (B + C)
$100
$60
$40
$32
Risk status
Risk ratio = $32 / $40 = 80% ≤ MaxRiskRatio ⇒ OK
Leverage = $100 / $40 = 250% ≤ MaxLeverage ⇒ OK
Case2) Borrow $60 TON against $100 tsTON
parameter
Risk Factor : TON - 40%, USDT - 0%, LST - 5%
MaxRiskRatio : 80%, MaxLeverage : 300%
DeFi position (A = a1+a2)
-
-
-
-
DEX (a1)
-
-
-
-
Liquid Staking (a2)
$100
-
$100
$5
TON (B = b1 + b2)
$100
$60
$40
$16
Native (b1)
-
$60
-
-
DeFi position (b2, from A)
$100
-
-
-
USDT (C = c1 + c2)
-
-
$0
Native (c1)
-
-
-
-
DeFi position (c2, from A)
-
-
-
-
Total Value (B + C)
$100
$60
$40
$21
Risk status
Risk ratio = $21 / $40 = 52.5% ≤ MaxRiskRatio ⇒ OK
Leverage = $100 / $40 = 250% ≤ MaxLeverage ⇒ OK
case2-1) Borrow +$20 TON
DeFi position (A = a1+a2)
-
-
-
-
DEX (a1)
-
-
-
-
Liquid Staking (a2)
$100
-
$100
$5
TON (B = b1 + b2)
$100
$80
$20
$8
Native (b1)
-
$60+$20
-
-
DeFi position (b2, from A)
$100
-
-
-
USDT (C = c1 + c2)
$0
Native (c1)
-
-
DeFi position (c2, from A)
-
-
Total Value (B + C)
$100
$80
$20
$13
Risk status
Risk ratio = $13 / $20 = 65% ≤ MaxRiskRatio ⇒ OK
Leverage = $100 / $20 = 500% > MaxLeverage → Fail
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