Inspired by more traditional borrowing/lending protocols (like Maker, Abracadabra, Liquity, Aave, Compound, …), our Borrowing module allows users to deposit collateral and borrow agEUR against it.

While this is pretty standard, Angle also comes with a new set of innovations and features designed to make this module one of the most efficient, robust and easy platforms for borrowers and traders in DeFi:

• Our liquidation mechanism inspired by Euler is based on Dutch auctions between liquidators, helping to protect liquidated addresses and only expose them to minimal losses

• All types of operations can be combined in one transaction and in a capital efficient manner. Repay your debt from your collateral without even bringing back the stablecoins you borrowed. Yes it’s bear market, but in case of, you can seamlessly get up to a 5x leverage on ETH, wstETH, wBTC: our smart contracts handle the complexity.

• Positions are treated as composable NFTs, which can easily be transferred or approved

There is a lot more that we’re bringing to the table with this Borrowing module. You can check out our docs or whitepaper for more details.

What’s important is that all of these improvements do not only make the module genuinely far more borrower-friendly, they also enable us to safely set low fees for it.

There is no repayment fee, no upfront borrow fee, just a 0.5% annual rate to be paid on borrows!

Note that to keep the module safe in the first place we’ve had to set dust amounts for the loans given by the module. This means that you will not be able to borrow less than 10,000 agEUR on Ethereum mainnet.

If you can’t afford that, no worries! Angle Borrowing module will soon be deployed on other side chains and L2s where any user will be able to use it for almost no fees and with very small capital requirements.

If you own ETH, are not willing to sell it, but still want nice stable yields or just fiat for your daily life: then borrow agEUR while keeping your ETH and use your agEUR as a payment/farming currency.

You’re confident that current bear market is not meant to last, that the merge will trigger a great new market cycle and want to increase your exposure to stETH or wstETH? Then get leverage in a single transaction with the cheapest fees in the market.

Yes, but ser, the € is a weak currency, I prefer to borrow $ stablecoins. Fine, but you can also agEUR, swap it to USDC and you’ll be making even more money if the $ increases over the €!

All of this can be done from our app here.

If you’re not sure about how to use the app, we got you covered and wrote some user guides for you.

Want to learn more about the Angle Borrowing module? We have a comprehensive documentation ready for it.

Liquidators are critical for the safety of this module. While we already have some liquidator bots running, we’ve written some guides to help you integrate Angle liquidations.

You can find the addresses of Angle smart contracts in our developers documentation. Highly accurate and reliable market data for this module are provided by Chainlink.

Angle’s smart contracts have been audited by Chainsecurity and code can be found in the Angle Borrow repository.

We will also be extending very shortly our public bug bounty in partnership with Immunefi.

This module now exists in parallel with what we’ll call from now Angle Core module. You can still mint agEUR at a 1:1 rate from USDC, DAI, FEI, FRAX or wETH, just like you can still get yield as a Standard liquidity provider or trade perpetual futures without any funding rate.

On top of the use cases we already had with Angle, this Borrowing module opens a new era of growth, use cases and opportunities for the protocol.

We will soon deploy this new module on other chains and layer 2s to make agEUR accessible to anyone, anywhere without any friction thus making the promise of building a truly permissionless, unstoppable, uncensorable and decentralized money layer more than ever a reality!

We’ll be releasing more information about how to use the protocol to its fullest potential over the coming weeks.

In the meantime, we encourage everyone to use the app, learn more about the protocol and join our Discord and Governance Forum to share thoughts and start collectively shaping the future milestones for Angle and more generally for permissionless money!

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This announcement is not intended to provide legal, financial or investment, or other advice and we recommend that you do not rely on, and do not make any financial or other decision based, on this announcement.