When you make a repayment, interest will always be repaid before any principal, according to the order time it is generated.
Every 24 hours, the system will automatically repay the accrued interest by default. If the user does not have enough balance of the borrowed token to repay the interest, the system will convert the balance of the token with the highest balance to repay the outstanding interest owed.
Here are the convert rules for repaying interests:
- WOO X will convert the stable coins first (such as USDT, USDC, BUSD, and DAI). If there have more than one stable coin, we will choose the larger balance.
- If there are no stable coins available for converting, WOO X will choose the assets by this group order. (It depends on the liquidity of the market)
Group
Assets
1 ADA, ALICE, BNB, BTC, BUSD, CRV, DOGE, DOT, ETH, ICP, LTC, MATIC, SHIB, SOL, TRX, USDC, XRP 2 ALGO, AVAX, AXS, BCH, BTT, EOS, ETC, FIL, FTM, FTT, GRT, LINK, NEO, OMG, PERP, UNI, VET, ZEC 3 AAVE, ATOM, BAL, BSV, CELR, COMP, DASH, DYDX, KSM, NEAR, ONT, RUNE, SAND, SNX, SRM, SUSHI, XLM, XTZ, YFI 4
1INCH, ASD, BADGER, BNT, CHZ, CRO, DAI, DODO, ENJ, HT, MANA, MKR, OKB, QRDO, Ray, UMA, WOO, ZRX