Load and Spend

Load and Spend with Moonwell Card

Understanding Your Moonwell Card Loading Options

The Moonwell Card offers two flexible ways to access your onchain assets for real-world spending:

  1. Load: Directly transfer USDC from your onchain wallet on Base.

Loading with other tokens on Base

The Cypher Moonwell Card Dashboard lets you load your Moonwell Card with many different tokens on Base, not just USDC.

Learn how to load your card using the Cypher Moonwell Card Dashboard here.

Supported Tokens and Load Fees

  1. Borrow and Load: Leverage your crypto assets as collateral to borrow and load USDC.

Load: Simple USDC Transfer

Quickly load your Moonwell Card with USDC from your onchain wallet on Base.

Prerequisites:

  • USDC in your onchain wallet on Base

  • Connected onchain wallet to Moonwell

Step 1: Acquire USDC

Purchase USDC from exchanges such as Coinbase, Binance, or decentralized options like Aerodrome on Base.

Step 2: Load Your Card

  • Select "From: Wallet Balance" in the Load modal

  • Enter the amount of USDC to load and click "Load Card"

  • Confirm the transaction and start spending within minutes!

Borrow and Load: Leverage Your Crypto Assets

Running low on USDC? Borrow against your supplied assets on Moonwell to load your Moonwell Card.

Prerequisites:

  • Supplied one or more supported assets on Moonwell Core Markets (Base)

  • Connected onchain wallet to Moonwell

Step 1: Supply Your Assets on Base

  1. Visit moonwell.fi and click "Markets" from the navigation menu

  1. Choose an asset to supply and click "Supply"

  1. Enter the amount to supply, click "Supply", then "Confirm Supply"

  1. Wait for the transaction to complete. Your assets are now supplied!

Step 2: Enable Collateral

Enable collateral to borrow against your supplied assets.

  1. Navigate to the asset's market page via "Markets"

  2. Toggle "Enabled as Collateral" to Yes under the Supply modal.

Note: Collateral must be enabled individually for each asset.

Step 3: Initiate Borrow and Load

  1. Navigate to "Card" in the navigation menu

  1. Select "From: Available to Borrow" and enter the desired amount of USDC to borrow.

  2. Click "Borrow and Load", confirm the borrow and load transactions, and your funds will be ready to spend within minutes.

Borrow FAQ

How Much Can I Borrow?

The amount you can borrow depends on several factors, including:

  • The value of your supplied assets

  • Your available credit

  • Market liquidity

If your Credit Remaining falls below $0 or 0%, you risk liquidation. You can easily check your Credit Remaining on the "Card" page of the Moonwell app.

Learn more about Credit and Liquidations

Are Interest Rates Fixed?

When you borrow USDC on Moonwell, you are taking out a loan and will accrue interest for as long as the loan remains open. You can find the current borrowing interest rate:

  • On the "Card" page of the Moonwell app.

  • On the "Markets" page, which shows interest rates for all Moonwell markets.

Important: Interest rates on Moonwell are dynamic, adjusting in real-time based on market demand. Regularly monitor your remaining credit to account for fluctuating rates. Ignoring accumulating interest or market changes could increase your risk of liquidation.

Learn more about Credit and Liquidations

Loan Repayments

Unlike traditional finance, Moonwell loans have no fixed repayment schedule or maturity date.

  • You can maintain your loan indefinitely, provided your Credit Remaining stays above $0 or 0%.

  • If Credit Remaining falls below this threshold, a liquidation event will occur, resulting in the loss of a portion of your collateral to repay the loan.

Learn more about Loan Repayments

Learn more about Credit and Liquidations

What is a Liquidation?

Liquidation occurs when assets used as collateral are sold to repay a debt if a borrower fails to meet loan obligations. To avoid liquidation:

  • Monitor your Credit Remaining regularly to ensure it stays above $0 or 0%.

  • Take proactive steps to adjust your collateral or repay outstanding amounts as needed.

Learn more about Credit and Liquidations

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