💸Borrow Policy

By utilizing the borrowing feature, users agree to comply with the terms outlined in this policy.

1. Accepted Collateral:

Mystics.World exclusively accepts BNB as collateral for borrowing $MSTC tokens. Users engaging in borrowing activities must ensure that their collateral comprises the accepted asset to proceed with loan initiation.

MSTC 0x6d844cc703a4E11B1e9a73187fb9c8D2672FC463

MSTD 0xbAB09f5fC8e1C78AEd420583e0b25e648d4de7C1

1. Collateralization Ratio:

Users acknowledge and agree to collateralize their BNB assets at a collateralization ratio of 115% during the borrowing process. This means that the value of the provided BNB collateral must equal or exceed 115% of the value of the borrowed $MSTC token. If the token price greatly exceeds the collateral, it can lead to liquidation.

1. Interest Rate:

The interest rate for borrowing $MSTC tokens against BNB collateral is set at 0%. Mystics.World does not impose any interest charges on borrowed amounts.

1. Borrowing Limits:

Users are subject to borrowing limits determined by their collateral value and the prevailing collateralization ratio. It is the user's responsibility to stay informed about their borrowing limits and adjust their collateral accordingly.

1. Liquidation:

In the event that the collateralization ratio falls much below the specified threshold, Mystics.World reserves the right to liquidate the collateral to cover the outstanding borrowed amount. Users will be notified of the impending liquidation, providing an opportunity to rectify the situation.

1. Repayment:

Borrowed $MSTC tokens must be repaid within the agreed-upon timeframe. Users are responsible for monitoring their borrowing status and ensuring timely repayment to avoid potential liquidation or additional consequences.

1. Amendments:

Mystics.World reserves the right to amend this Borrow Policy at any time. Changes will be effective upon posting on Mystics.World . Users are encouraged to review this policy regularly to stay informed about any updates.

1. Risks and Responsibilities:

Users engaging in borrowing activities acknowledge and accept the inherent risks associated with such transactions. It is the user's responsibility to carefully assess their financial situation and make informed decisions regarding borrowing against BNB collateral.

1. Contact Information:

If you have any questions or concerns about this Borrow Policy, please contact us at [e-mail]