Borrow - Repay
The borrowing feature on xNinja allows users to leverage their $INJ holdings to access $XNJ tokens, maximizing asset efficiency within xNinja ecosystem. Utilize this feature responsibly to unlock additional value and enhance your platform experience. Here's the step-by-step collateralization process:
1. Wallet Setup (Automated)
Your personal wallet is automatically created upon successful login to the xNinja platform, ensuring a seamless experience. You have the flexibility to export your Private Key for use in any external wallet, enabling you to track, deposit, or withdraw $INJ/$XNJ directly on your terms.
2. Deposit $INJ
Once authenticated, users can instantly deposit $INJ within the xNinja interface. This step is crucial as it determines the amount of $INJ available for collateralization and subsequent acquisition of $XNJ.
In the Profile section, click "Deposit" to access your wallet address or QR code for quick transfers from other mobile wallets.
You can bridge $INJ in using http://hub.injective.network or send using a CEX like Binance - only supported on the Injective network, and MEMO is not required.
3. Determining the Collateral Amount
After you've successfully funded your wallet with INJ tokens, head to the Borrow tab in your Profile section.
Users select the amount of $INJ they wish to collateralize, determining the volume of $XNJ tokens they'll receive. xNinja employs a transparent, real-time exchange rate system, ensuring fairness and accuracy throughout the transaction.
4. Receiving $XNJ Tokens
Once users deposit $INJ collateral, they receive $XNJ tokens in return, usable within the xNinja ecosystem for various purposes.
To use $ELEM tokens in-game to buy chests, items, or to level up Ninja, you need to convert the borrowed $XNJ to $ELEM at a 1:1 ratio via a tool. Check the article below for details.
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