# Borrowing

Borrowing tokens from the Nebula Protocol allows participants to access liquidity against supplied collateral. Borrowers must maintain sufficient collateral to cover their borrowed amount; falling below the required level could lead to liquidation. Interest rates for borrowed tokens are dynamically set based on the borrow utilization rate and governance parameters, which can change through community decisions.

**Steps to Borrow Tokens:**

1. **Select Token to Borrow**: Connect your wallet and go to the Dashboard, then find the Borrow Asset section. The Asset Pool table lists available tokens for borrowing, including their amounts and interest rates, which adjust with market conditions. For example, you might borrow 3.9989 $NIBI at a 3.46% APR.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfzfAd6oZZxMrq0Kh4YB-tEMgpRX_GLnISwc0ohstI17rwUwIqlJ2Xxp4IoP4xba87UCDmgfuznMTXyzahdl5jpcih1u0XJZtD8dWulCLs-naANK_VGpg4gC1wy_yZIRL3032vQtQ?key=Opb-BONxPHbfS_7Th3BpOqCr" alt=""><figcaption></figcaption></figure>

**Step 2 - Confirm Borrowing**\
Enter the amount you wish to borrow and confirm the transaction in your wallet. Once confirmed, the borrowed tokens will be transferred to your wallet. Be aware that interest on the borrowed tokens begins to accrue immediately and is dynamically adjusted based on the borrow utilization rate.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeKjJkR8TxCAylUuLgOq5i9ukHOOlvVeGSUQ4R-MzVg98bNE48ilAaEiBP4cMKGWENT-y85flrjm3eDGXGZY-VokeqDkYBV-W5N5_yVtg7YnT3-rE98RJztKv5nCun2kSijq2yK?key=Opb-BONxPHbfS_7Th3BpOqCr" alt=""><figcaption></figcaption></figure>

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Step 3 - View Borrow Status&#x20;

By navigating to the  ‘Portfolio’ tab on the navigation bar, you will be able to view and manage your current borrowing.&#x20;

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<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeKotmdqUMnqHDqjWpCx3r1xJqiR6eYpWVwCYoCoxLliZsoBo3EGhATU395oFlUz7AjlYGKWfqhYcL72I_NHbd6WIGA1h5TDPxul2yY7muV5VJg7IVgSRoxX5sdiUrcZBIm1c_5mA?key=Opb-BONxPHbfS_7Th3BpOqCr" alt=""><figcaption></figcaption></figure>


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