Borrow Assets
Borrow against the aggregate capacity of your approved LP positions while the Hub supplies the shared capital.
Overview
Borrowing happens after the Borrow Spoke has admitted and valued your LP positions. When you request an asset, the spoke checks your remaining capacity, verifies that the account stays healthy, and then draws liquidity from the Hub on your behalf.
Important: borrowing creates debt that accrues over time. Capacity can change with market conditions, so a safe buffer matters even after a borrow succeeds.
Borrow Checks
Position and ownership checks: the spoke confirms that the collateral positions are valid for the caller and remain in the approved collateral set.
Capacity check:the requested debt is tested against the user's aggregate borrowing capacity inside that Borrow Spoke.
Hub liquidity and cap checks: even if collateral is sufficient, the borrow still depends on available Hub liquidity and any asset-level or protocol-level borrow constraints.
Post-borrow health check: the account must remain above the liquidation boundary after the new debt is added.
Health Check
The spoke uses the same valuation engine and risk settings that determine collateral factors and liquidation eligibility. Borrowing only succeeds if adjusted collateral value remains comfortably above total debt after the new draw.
healthFactor = adjustedCollateralValue / outstandingDebtThe adjusted collateral value already includes conservative LP valuation, collateral factors, and pool-level risk controls. See Health Factor and Collateral Factors for the canonical model.
Internal Accounting
Debt shares: new debt is recorded through a debt-share model so interest can accrue without rewriting the full account balance on every block.
Hub draw: the Borrow Spoke requests the asset from the Hub once all checks pass.
State update: the user receives the borrowed asset, and the spoke records the new debt state for future health checks, repayments, and liquidation logic.
Borrowable Assets
Borrowable assets are a Hub-side operational configuration rather than a permanent protocol invariant. In practice, live markets generally start with major stablecoins and other highly liquid assets before expanding.
Check the active deployment or interface configuration for the exact current borrow set.
Borrowing Power
Borrowing power is the total of all approved LP-position contributions inside the same Borrow Spoke. It is not assigned to the pool as a whole and not to the account as an undifferentiated balance.
Practical rule: the closer you borrow to maximum capacity, the less room you have for price movement, volatility spikes, and recoverable-value haircuts.
Recommended: keep a buffer and use Liquidation Framework and Health Factor as the canonical references when sizing risk.