How loans work
A loan from start to finish, in six steps.
The steps
- Connect Phantom. OtterLend reads your wallet's balances. It asks for nothing else until you sign a loan.
- Pick a coin. The borrow page lists the pump.fun coins in your wallet. Coins the desk covers show their live loan limit; the others say which rule they fail.
- Choose how much. Pick how many coins to lock and how much SOL to borrow, up to the coin's limit. The page shows your liquidation price before you commit.
- Borrow. The coins are locked as collateral and the SOL goes to your wallet.
- The desk keeps watch. Every 10 minutes it rereads the coin. If your loan gets close to its liquidation line and you added your X handle, it warns you on X.
- Repay any time. Pay back the SOL plus interest and your coins come back in the same transaction.
What can change while a loan is open
The coin's price moves, so your loan to value moves with it. When the price falls, your loan to value rises toward the liquidation line. When it rises, you have more room.
The desk can change a coin's limit at any check. A new limit applies to new loans. An open loan keeps the liquidation line it opened with.
How a loan ends
- You repay: the loan closes and your coins come back.
- Your loan to value reaches the liquidation line: the loan is liquidated. See liquidations.