❓FAQ

What is Delea Finance, and how does it work?

Delea is a decentralized borrowing protocol where you can deposit TON, jBTC and jETH as collateral to mint $DONE, an over-collateralized stablecoin. This allows you to unlock liquidity and participate in DeFi without selling your TON.

What is $DONE stablecoin?

$DONE is an over-collateralized stablecoin designed to maintain a stable value, softly pegged to the USD. $DONE can be used in various DeFi applications while keeping your collateral secure.

How does over-collateralization work in Delea?

In Delea, over-collateralization means that the value of your collateral (TON, jBTC and jETH) must be higher than the amount of $DONE stablecoin you mint. Specifically, your collateral must be at least 125% of the value of the $DONE you borrow. This ensures the stability of the system, protecting both the protocol and users from market volatility. If the value of your collateral drops too much, you may need to add more collateral to avoid liquidation.

What assets can I use as collateral to mint $DONE?

For now, you can use $TON, jBTC and jETH as collateral to mint $DONE.

What happens if the value of my collateral drops?

If your Health Factor reaches 1.25, your position will be liquidated. Delea will collect fees from your collateral and transfer it to liquidators, who will provide an equivalent amount of $DONE back to the protocol. Delea will then burn the $DONE to keep the price and collaterization stable. You can still use the $DONE you minted, but your original collateral will not be returned. More about liquidation read here.

Can I repay my $DONE at any time to unlock my collateral?

Yes, you can repay your $DONE anytime to unlock and withdraw your collateral, giving you full flexibility and control over your assets.

What is the minimum collateral ratio, and how does it impact my borrowing capacity?

The minimum collateral ratio in Delea is 125%, meaning your collateral must be worth at least 1.25 times the value of the $DONE you mint. This ratio limits the amount of $DONE you can borrow and ensures the stability of the system by reducing the risk of liquidation if the value of your collateral decreases.

What are the current fees at Delea?

A 1% fee is charged for debt repayment, a borrowing fee (4% annually) is charged based on the number of days the borrower position remains open, and 10% is charged additionally if the position is liquidated.