Loan

Polygon

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Polygon loans.
Borrow against POL.

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What is Polygon?

Polygon is a platform design to support infrastructure development and help Ethereum scale. Its core component is a modular, flexible framework (Polygon SDK) that allows developers to build and connect Layer-2 infrastructures like Plasma, Optimistic Rollups, zkRollups, and Validium and standalone sidechains like the project's flagship product, Matic POS (Proof-of-Stake). Polygon rebranded from Matic Network in February 2021 and pivoted towards supporting multiple Layer-2 infrastructure. It will continue to support the Matic POS sidechain and Plasma-based payment system, which currently hosts over 90 applications.

How do loans backed by MATIC works

Crypto lending provides an easy solution for both borrowers and lenders. Borrowers can obtain loans in USDT by leveraging their cryptocurrencies as collateral, while still retaining ownership of their digital assets. This streamlines the process by removing the need for credit assessments and extensive paperwork, making everything quicker and more economical.

Lenders can place their cryptocurrency, including Polygon (MATIC), into a specialized account on the Beast platform. A custodian manages the connection between borrowers and lenders, guaranteeing a safe transaction. They function as a reliable middleman, ensuring that the interests of both parties are safeguarded.

Borrowers gain from this arrangement since they can access cash without parting with their cryptocurrencies. This is particularly advantageous during market volatility, as it helps them sidestep any possible losses. The lending framework further simplifies borrowing and does away with credit checks altogether.

Lenders receive interest on their deposited cryptocurrencies through loan repayments. This enables them to profit from their digital assets. It’s a mutually beneficial scenario where borrowers secure loans while lenders enjoy returns on their investments.

The Beast platform oversees the lending activities between borrowers and lenders, and the use of blockchain technology ensures secure transactions without third-party involvement. This minimizes fraud risks and fosters a secure lending atmosphere.

Polygon Loan Calculator

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USDT

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15% per year

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Crypto Loans explained

In our video, we take you on an exciting and informative journey into the realm of crypto lending and borrowing on the Beast platform. Discover how this revolutionary system works, learn how to take out a loan, and explore the seamless process of loan repayment. Packed with valuable insights and tips, this video is your ultimate guide to harnessing the potential of crypto credit.

How to get a loan on Polygon? Borrow usd against Polygon on Beast

The process of getting an Polygon cryptocurrency loan is quite simple. First, you need to create your account on Beast, a platform that offers Polygon cryptocurrency lending services. Then, you need to provide your POL as collateral and specify the loan amount you want to borrow. The platform then evaluates your collateral and gives you access to the required amount of Tether USDT.

Your creditworthiness is determined based on the value of your collateral, making the process of getting a cryptocurrency loan fast and convenient.

However, it is important to remember that Polygon cryptocurrency loans are not without risks. In case you default on the loan, your collateral can be seized. Therefore, you should carefully assess your repayment capacity before taking out a cryptocurrency loan.

How to get a loan on Polygon? Borrow usd against Polygon on Beast

To authorize an Polygon Crypto Loan, you will need to go to Features tab → Loan section → Borrow button

Choose the required loan amount the terms and conditions of the crypto loan, and apply for it by confirming it with a code from 2FA - application or E-mail or Telegram-bot.

Learn more about POL Crypto Loans

Polygon lending

Borrowing through Polygon has become a favored option for crypto enthusiasts seeking quick access to money. With these loans, users can secure funds by leveraging their Polygon assets, granting them immediate liquidity without liquidating their cryptocurrencies. These MATIC loans derive their security from the value of the borrower's Polygon, creating a dependable lending atmosphere. Now, obtaining a MATIC loan is straightforward, allowing individuals to utilize the funds for a variety of needs, such as investing, settling bills, or even launching a business. This cutting-edge approach to MATIC lending has unlocked new possibilities for individuals to optimize their Polygon investments and secure essential capital.

MATIC as a collateral

Polygon, also known as MATIC, has gained popularity for its cryptocurrency-backed loans. Through various Polygon lending platforms, users can either borrow MATIC or lend their holdings to generate interest. These loans enable individuals to leverage their Polygon assets for immediate cash without liquidating their investments. Borrowers have the option to get USD loans backed by MATIC, offering them increased flexibility and liquidity. So, how do these Polygon loans operate? Essentially, users deposit their MATIC as collateral, and depending on its worth, they can obtain a loan. These quick crypto loans serve as a practical option for those needing fast access to funds while keeping their Polygon assets intact.

Interest rates on loans secured by Polygon.

At Beast, we recognize how crucial it is to have competitive interest rates. That’s why we provide cryptocurrency loans at an appealing rate of just 9%. Whether you're looking for funds for personal use or business ventures, our low-interest loans offer an economical way to gain liquidity without needing to sell your valuable cryptocurrencies.

One standout element of Beast's crypto loans is the collateral system. If a borrower fails to repay the loan, the MATIC collateral stays with Beast, while the borrower retains the issued Tether USDT. This method ensures a fair and equitable route to recover loans, benefiting both lenders and borrowers.

To mitigate the risk of Polygon losing value, Beast has implemented an automatic liquidation system. Should the value of the collateral drop below a crucial point, the loan will be liquidated. This safeguard protects both the lender and borrower from potential market declines.

At Beast, we prioritize transparency and ease. Our clients can effortlessly check their loan status via our intuitive platform. Also, borrowers have the option to increase their collateral, pay off the loan early, or settle the loan by covering the borrowed sum plus interest accumulated.

If you’re curious about how to secure a loan using cryptocurrency, Beast offers instant crypto loans. You can leverage Polygon to receive Tether USDT. Our crypto-backed loans deliver a swift and simple answer to your financial requirements.

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Why choose Polygon Beast Loan

Take advantage of limitless possibilities: Get any amount at any time with our unbeatable cryptocurrency line of credit.

Easy access to funds

By leveraging your crypto assets as collateral, you can quickly obtain loans without the need for extensive credit checks or income verification, making the process more efficient and accessible.

35+ Currencies

Choose your collateral from over 35 cryptocurrencies and borrow instantly from USDT.

No inspections!

Cryptocurrency loans allow you to access credit without checking your credit history.

Interest - hourly

We charge interest on the loan hourly. However, during the first hour after taking out the loan, you have the opportunity to repay it without any additional fees. This sets us apart from our competitors.

Lower interest rates

Because cryptocurrency loans are collateralized, lenders often offer lower interest rates than traditional unsecured loans, making them more cost-effective for borrowers.

Flash approval

Receive funds in the same minute without spending more than 3 taps

Maintain ownership of your crypto

With crypto-backed loans, you retain ownership of your digital assets while using them as collateral. This allows you to benefit from potential market growth and regain full control of your assets once the loan is repaid.

FAQ

What is Beast Polygon Crypto Loan?

Beast Polygon Crypto Loan is a secure, overcollateralized, and flexible loan product. Users can take loans by pledging their crypto assets as collateral. With Beast, you don't have to worry about rehypothecation since we don't lend out your collateralized crypto to others.

How do I pledge my assets and start borrowing with Beast Polygon Crypto Loan?

To start, choose the crypto you'd like to pledge as collateral and the amount you'd like to borrow. Ensure you have sufficient crypto assets in your account to cover the required collateral. Once the process is complete, your collateral will be locked, and the loan will be transferred to your account.

What is LTV, and how much can I borrow from Beast Polygon Crypto Loan?

LTV (Loan-to-Value) represents the ratio between the value of the loan plus accrued interest and the value of your collateral. The LTV percentage determines how much you can borrow based on the collateral you pledge. For example, with a 50% LTV, if you pledge 1,000 USDT, you may borrow up to 500 USDT worth of assets.

Are there limits to how much I can pledge and borrow?

Yes, there are limits for each cryptocurrency. The maximum amount you can pledge or borrow depends on the specific crypto and may change periodically.

What is loan liquidation, and what is the liquidation LTV?

Loan liquidation occurs when the current LTV exceeds the liquidation LTV, which may happen if the collateral's value decreases or the loan's value increases. If liquidation occurs, you may lose some or all of your collateral.

What happens when a loan is liquidated?

When liquidation occurs, the outstanding loan amount will be repaid using the equivalent value of collateral. A partial liquidation happens when the liquidation doesn't fully cover the outstanding loan, and a full liquidation occurs when the entire loan is repaid using the collateral.

What is a margin call?

A margin call is a warning issued when your collateral-loan pair position reaches its margin call LTV. You can take action by adding more collateral or reducing the outstanding loan to lower the LTV.

Will I be notified in the event of margin calls or liquidations?

Yes, Beast will send notifications via email and SMS in case of margin calls or liquidations. However, timely delivery of these notifications cannot be guaranteed.

What interest rate applies to my loan?

Beast provides transparent interest rates for each cryptocurrency. Please refer to the platform for up-to-date interest rates.

How is interest accrued for my loan positions?

Interest accrues based on the total outstanding loan amount and the prevailing APR. The interest accrued is added to the total outstanding loan.

How do I repay my loan or adjust my LTV?

Use the 'Repay' or 'Adjust LTV' options in your account to repay loans or adjust collateral, respectively. You can only repay your loan using the same cryptocurrency you borrowed.

Which cryptocurrencies can I pledge or borrow on Beast Crypto Loan?

Beast Crypto Loan accepts a variety of cryptocurrencies as loanable and collateral assets. The list of available cryptocurrencies is updated periodically, so please refer to the platform for more information.

What can I do with the cryptocurrencies borrowed from Beast Polygon Crypto Loan?

You can use the borrowed cryptocurrencies for various purposes, including trading, investing, or withdrawing from the platform. The collateral you pledge remains with Beast as security for the repayment of your loan.

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