> For the complete documentation index, see [llms.txt](https://singsing.gitbook.io/singsing/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://singsing.gitbook.io/singsing/policies/borrow-policy.md).

# Borrow Policy

**Eligibility**

To borrow token SING by collateralizing chain's token (AVAX, BNB, MATIC, or OAS), users must match the following criteria:

a. Having a verified account on our platform.

b. Possession of a sufficient quantity of the chain's token (AVAX, BNB, MATIC, and OAS) to serve as collateral.

c. Compliance with all applicable regulatory requirements and platform-specific conditions of usage.

**Collateral requirements:**

a. The chain's token (AVAX, BNB, MATIC, and OAS) is the sole approved collateral for borrowing token SING.

b. The collateralization ratio is set at 111%, which means that users must provide collateral equal to at least 111% of the borrowed amount in token SING.

c. The platform has the right to alter the collateralization percentage in response to market conditions.

**Borrowing Conversion Rate**

a. The conversion rate borrowing is calculated using the value of the specified chain's token (AVAX, BNB, MATIC, and OAS) collateral and the current collateralization ratio.

b. Users may not borrow more than the conversion rate.

(this rate may change)

#### Interest Rate

a. The interest rate for borrowing token SING against chain’s token (AVAX, BNB, MATIC, and OAS) is 0%.

b. This rate is subject to change at the discretion of the platform.

#### Return

a. Borrowed amounts must be repaid in token SING.

b. Users have the flexibility to return the borrowed amount at any time.

#### Liquidation:

a. The conversion rate between collateral assets and borrow assets is hereinafter referred to as the collateralization rate.

b. If the collateralization rate changes due to market fluctuations, leading to the value of the collateral assets being equal to or less than the value of the borrowed assets, the platform reserves the right to liquidate the collateral to cover the outstanding loan.

#### Risk Disclosure:

a. Borrowers are advised to carefully consider the risks associated with borrowing against their chain’s token (AVAX, BNB, MATIC, and OAS) collateral, as market volatility can affect the value of both the borrowed token SING and the collateral.

#### Regulatory Compliance:

a. Users are responsible for ensuring compliance with all applicable laws and regulations governing borrowing activities on the platform.

#### Platform Discretion:

a. The platform retains the right to modify, update, or terminate the borrowing policy at any time, with or without prior notice.

By engaging in the borrowing process, users affirm that they have read, understood, and agreed to follow the Borrowing Policy. Failure to follow the policy may result in the suspension or termination of borrowing privileges on the platform.

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