Cloning Existing Positions

Immediately mint Frankencoins by cloning an established position that is not maxed out.

This is the standard way to obtain Frankencoins against a collateral. Unlike creating an entirely new position, which takes a lot of time, borrowing by cloning an established position can be done immediately. To do so, find an existing position that is based on your collateral of choice and that is not maxed out yet, i.e. where the borrowed total is below the limit.

When selecting a position on the position overview, you get to see its detail view which shows all the relevant parameters. If you are interested in borrowing Frankencoins and you think the terms are reasonable, you can proceed by clicking "borrow", which leads you to the borrow page.

The borrow page lets you specify how much you want to borrow and shows you how much of the collateral asset you need for that. When confirming the inputs, a transaction is created that will at the same time deduct the required amount of collateral and mint the indicated amount of Frankencoins into your wallet. Note that a fraction of what you borrow does not go to your wallet, but instead is sent to the borrowers reserve in your name. Unless the Frankencoin system suffers from large losses in the meantime, you will get that reserve back as you repay the outstanding amount. Also, a fee is automatically deducted.

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