Glossary

$NECT: $NECT refers to Nectar which is Beraborrow's native stable-coin. Whenever you take out an interest-free loan you receive $NECT.

Den: Referring to your position in Beraborrow, you create a den when you take out an interest-free loan.

Liquidation Price: The liquidation price of a Den is the price at which the position gets liquidated. This occurs when the collateral value drops below the Minimum Collateral Ratio (MCR) for that specific asset.

Minimum Collateral Ratio: The minimum collateral ratio is the lowest amount of debt compared to collateral that won't cause a liquidation. This is a protocol parameter is set depending on the volatility of a specific collateral assets.

Redemption: Redemption involves exchanging $NECT for iBGT.