Max Borrow

When initiating a new borrowing position, the maximum notional amount you could borrow is called the Max Borrow indicator. When you Create a Position, there will be an indicator with the maximum number of tokens you could either lend or borrow, in any given market.

For Max Borrow, the figure shown is calculated in isolation to Portfolio Margin, and provides an indicative amount by applying a loan-to-value (denoted, "LTV") approach, for time/space calculation considerations.

Currently, Max Borrow associated with an asset is defined as:

$$maxBorrow(A_i)=A_i\times\frac{LTV}{{1-LTV}}+L$$

Where Liabilities = Present Value of Borrowing Positions, which represents the present value of your Trading Account's liabilities (where liabilities are a negative figure).

Current LTV per asset used for this purpose (to be updated periodically, based on market conditions):

• Basic Tokens:

Accepted Collateral	LTV
USDC	85%
USDT	85%
DAI	77%
ETH	82%
WBTC	70%

• Deposit Tokens:

Accepted Collateral	LTV
Aave aTokens	95%
Compound cTokens	95%

• Complex Tokens:

Accepted Collateral	LTV
Curve LP Tokens	75%
Uniswap LP V3 NFT Tokens	75%