How to: Take out a DeFi loan on FilDA

The banking (lending and borrowing) protocol on is a revision based on Compound. It allows users to deposit supported assets and earn interest on these deposits (lending), and also allows users to use their deposited assets as collateral against loans of supported assets (borrowing).

Each loan is over-collateralized, this means you must deposit more than you borrow. Loans have no time limit for repayment, require no credits checks or divulgence of personal information and borrowed funds are instantly transferred to your connected wallet. Once in your wallet they are wholly yours.

Liquidations can occur when the deposited amount of collateral is no longer enough to cover the value of the permitted loan (variable borrowing threshold percentages exist for each asset) due to market conditions. On top of the loan utilisation thresholds, FilDA applies an initial safety line of 85%.

Users can choose which assets deposited are available for borrowing by other users, these transactions are handled by the protocol’s smart contracts. Any deposited funds can be selected for use as collateral for a user’s personal borrowing.

A simple example:

Lending and Borrowing:


When the loan utilisation in a user’s account exceeds 100%, the FilDA protocol will trigger liquidation, in which the user’s collateral is put into the liquidation market and anyone can participate in the liquidation.

Continuing the above example:

And continuing further:

Step by step guide to Lending and Borrowing

Deposit for Lending

Enabling collateralization

A Loan Percentage Used bar will show you how much of your available collateral is used. Borrowing is at your own risk and volatile market conditions can quickly change the Loan Percentage Used value. Caution is recommended, but users are free to make their own strategic decisions.

Wau.Finance have developed a tool to help track loans and deposits on Find out more here:

About FilDA

FilDA is a highly secure decentralized banking platform containing two fundamental protocols:

Banking — Lending and Borrowing assets (based on Compound)
Staking — Locking of assets to earn rewards (based on Harvest)

· FilDA Website

· FilDA Twitter and Telegram Channel

· FilDA GitHub

FilDa is your portal into the next wave of decentralized finance.