# CrossFi Borrow (Flashloan)

## **What is CrossFi Borrow?**

The Borrow feature update in the CrossFi DApp now empowers you to create sFIL and borrow cFIL with sFIL as collateral. sFIL and cFIL are both FIL (Filecoin) synthetics.

## **What is sFIL?**

sFIL is Filecoin synthetic asset that acts as a certificate created by miners' mortgaged storage power.
 Borrowers pledge the storage power of the node, and sFIL is generated according to the pledged amount.

## **Borrower Nodes FAQs**

*How can I get a loan?*

sFIL holders can borrow cFIL with sFIL as collateral. For example, assuming that the collateral ratio is 60%, the maximum number of cFILs a user can borrow after a mortgage of 10,000 sFIL is 60% of 10000 = 6,000.

*How do I reclaim effective storage power?*

Miners can recover effective storage power by sending sFIL to the designated address.

*How much is the loan interest?*

The borrower calculates the interest in real-time as soon as the loan begins. For example, assuming that the loan interest rate is 60%, it is calculated as loan interest = loan cFIL quantity \* 60% \* loan days/365.

![](https://2454253789-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MbZMlY1zr6-eIn_VeR9%2F-MiiDmRCjyenqCOfGGJL%2F-MiiXQRcO1UIaqN7V55F%2Floan%20equation.png?alt=media\&token=6ed4fde9-5132-4c83-a08c-8e6fc2a2af6a)

## **How To Use The Borrow Feature?**

Follow these steps to start lending or borrowing:

1\. Press the burger icon on the top right corner of the DApp screen.

![](https://2454253789-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MbZMlY1zr6-eIn_VeR9%2Fuploads%2FN5oHWSRKLSK0XFfAkH2q%2FBurger%20Icon%20BSC.jpg?alt=media\&token=2e492b37-3bab-4e2c-8a87-cc4c711c8eca)

2\. Press the \[Borrow] button at the top of the menu.

![](https://2454253789-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MbZMlY1zr6-eIn_VeR9%2Fuploads%2FMcTlqXAUOXZ3wbQehP59%2FBorrow%20button.jpg?alt=media\&token=cd324b74-e1d0-4b4e-9551-c70b671039fe)

Alternatively, you can press the \[Borrow] button shown next to your sFIL Balance in the Wallet screen.

![](https://2454253789-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MbZMlY1zr6-eIn_VeR9%2Fuploads%2FRO4EQPDGz3vqCwMx7a1u%2FBorrow%20button2.jpg?alt=media\&token=fcac787f-f148-435d-9782-a14bc4e056df)

3\. Pressing \[Borrow] opens the Borrow screen. To pledge storage you can press the orange \[Storage Pledge] button and enter your details and your node number.

![](https://2454253789-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MbZMlY1zr6-eIn_VeR9%2Fuploads%2F4hPTki4xqz7t5edESsHL%2FStorage%20Pledge.jpg?alt=media\&token=cfe36515-65ed-42de-8dd5-fa64400c97d5)

4\. The screen will also show you information about your current sFIL assets and the total sFIL in the market. To borrow, press the blue \[Borrow] button and press the \[Repay] button to return your previously borrowed sFIL.

![](https://2454253789-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MbZMlY1zr6-eIn_VeR9%2Fuploads%2FmYboErWfrgetw810UcCC%2FBorrow%20Repay.jpg?alt=media\&token=4dc7aa81-fab3-4cce-97ba-b1eef3adf26f)

5\. You can see the Trusteeship List by pressing the \[Trusteeship List] button at the bottom of the screen.

![](https://2454253789-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MbZMlY1zr6-eIn_VeR9%2Fuploads%2FV2kD6X0jUTppDVGHlmPc%2FTrusteeship%20button.jpg?alt=media\&token=aff1b120-8fcf-4fbb-8a55-d89bcbe48871)