Step #1 — Create your borrow order
First, create your borrow order. We’ll use this to match you with a suitable investor. To begin, head to our website and click Borrow to the right of the middle on the top of the screen and you’ll see the screen below.
- how much to borrow. There are no maximum limits, but the minimum is $50.
- your collateral. We accept over 60 different cryptocurrency tokens, and you need to put up 150% of the loan value in your chosen token.
- the wallet to return your collateral. Please enter the correct address so we can return your collateral when you repay.
- the currency. Currently, you can borrow US Dollars, Vietnamese Dong, Tether (USDT), USD Coin (USDC), StableUSD (USDS), TrueUSD (TUSD), Binance USD (BUSD), Privacy (PRV), or DAI.
- the interest rate. Go as high or as low as you want, but for a guaranteed match, choose the default option (currently 10%). This is the market rate.
- the loan term. Choose a term that’s comfortable for you — give yourself plenty of time to repay.
There is a 1% fee to match you with a lender. This helps us maintain and develop the platform, attract new customers (so you always find a match), and build partnerships with other promising blockchain projects that add value to your experience.
Once you’ve selected the details for your loan, click Borrow cash.
Step #2 — Send your collateral to escrow
You will now see the screen below. This is the escrow address to which you should send your collateral. Either copy the address or scan the QR code using a mobile wallet app.
Please send your collateral within 60 minutes. After that, your order will expire (you can easily recreate it). This is a security measure that protects the integrity of the platform and ensures we can service orders on time.
Once the collateral is in escrow, the platform will search for a lender. You can check the progress of your order on your Accounts page. Your loan orders are listed on the right hand side, and on the top right, you can check the status (see the pic below):
- Pending means we’re awaiting your collateral.
- Matching means we’re finding you a suitable lender.
- Matched means your term has begun and your money is in your account.
- Expired means we didn’t receive your collateral in time.
- Closed means you cancelled the order before matching, or you’ve repaid the loan.
During the loan term, you can also:
- recall excess collateral if its value has risen.
- top up collateral if the value falls close to the liquidation threshold.
- repay early — but you’ll have to pay 50% of the total interest due if you repay before 75% of the loan term is up. You will need to repay all of the interest due if you repay after 75% of the term.
Step #3 — Withdraw your loan
Once matched, you can withdraw your loan in fiat (USD) or crypto (USD-backed stablecoins). Head to your Accounts page and you’ll see the buttons below.
To withdraw cash, click Withdraw fiat. You’ll then see the screen below.
Enter the amount, payment method, and recipient details — this will be your Zelle email address, or if you’re wiring the money, your bank details. Click Send.
Zelle transfers usually happen in minutes, but a bank transfer can take up to two business days.
To withdraw as a stablecoin, click Withdraw crypto. You’ll then see the following page.
We support ETH, EOS, TOMO, USDT, USDC, TUSD, USDS, BUSD, PRV, and DAI wallets.
Enter how much you want to send, which stablecoin you’d like to withdraw (we support CONST, USDT, USDC, TUSD, USDS, BUSD, PRV, and DAI), the wallet and the wallet address.
Step #4 — Repay the loan
To repay your loan, simply deposit funds to your Constant account. All deposits now earn 5% APY through Flex (shown below). Deposit from this page and the platform will deduct the repayment automatically from your account when your loan matures. You can deposit in fiat (USD or VND), or if you’d prefer, a USD-backed stablecoin.
It’s important to repay your loan on time. If you’re between 24–72 hours late, you’ll pay a 10% late repayment fee, and if more than 72 hours late, we’ll sell your collateral to repay the investor. Selling your collateral is always a last resort, but it’s the only way we can give our investors the confidence to lend through our platform.
For further information, please visit our blog: