Borrow against bTokens

Baseline allows you to borrow against your bTokens at 0% interest, using the protocol’s floor value (BLV) as collateral. This gives you access to capital without needing to sell your position or risk liquidation.

Why It's Useful

Borrowing against bToken is ideal for users who want to free up liquidity for other purposes — like joining a new presale, or rotating into another token — without exiting their current position.

Some added benefits when you borrow:

  • Access capital without selling
  • No liquidation risk
  • Maintain exposure to future upside
  • Earn trading fees from protocol activity
  • Get a leveraged exposure by re-buying with borrowed funds

How It Works

  • Each bToken has a BLV (floor price), backed by the reserves.
  • You can borrow the floor value of your bToken directly from the protocol.
  • Loans are non-liquidatable and interest-free.
  • You can repay anytime to restore full exposure.

How to Borrow

Step 1: Connect Your Wallet

  1. Navigate to app.baseline.markets (opens in a new tab)
  2. Click "Connect Wallet" in the top right
  3. Choose your preferred wallet (e.g. MetaMask, Rabby, etc.)
  4. Approve the connection

Step 2: Configure Your Loan

  1. Navigate to the "Loans" section
  2. Select the bToken you want to borrow against
  3. Enter the amount you want to borrow
  4. Review the terms
    • 0% interest rate
    • No liquidation risk
    • No expiration date
    • Repay anytime
  5. Confirm Transaction: Approve the transaction in your wallet

Step 4: Receive Funds

  • Borrowed funds will be sent directly to your wallet
  • Your bTokens remain collateralized by the protocol until repayment
  • You can use the borrowed funds for any purpose (e.g. investment strategies, rebuying, etc.)

Repay Your Loan

  1. Go to "My Loans" section
  2. Find the loan you want to repay
  3. Click "Manage Loan" or "Repay"
  4. Enter the amount you want to repay
  5. Confirm the transaction

Example

Let's say you own 100 YES tokens with a floor value of 0.01 eth/token.

  • You collateralize 100 YES and borrow 1 ETH
  • You pay 0% interest and risk no liquidation
  • If YES price increases, you benefit from the upside while having used the borrowed funds elsewhere
  • To repay, you must repay in reserve asset (e.g. ETH not USDC)
Trade bTokensLeverage bTokens