> For the complete documentation index, see [llms.txt](https://thanasdefitools.gitbook.io/thanasdefitools-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://thanasdefitools.gitbook.io/thanasdefitools-docs/loans/what-is-loans.md).

# What Is Loans?

**Loans** is a community page for **Enosys Loans** that works straight from its contracts. It lives at [thanasdefitools.xyz/loans](https://thanasdefitools.xyz/loans) and runs on Flare.

Enosys Loans lends the **CDP Dollar (CDP)** against collateral. It is a fork of Liquity V2, with one branch per collateral:

| Branch | Collateral                        |
| ------ | --------------------------------- |
| FXRP   | FXRP                              |
| WFLR   | WFLR (the page wraps FLR for you) |
| stXRP  | stXRP                             |
| sFLR   | sFLR                              |

## What you can do

* **Borrow:** open a loan (a **trove**) on any branch, then add or take out collateral, borrow more or repay, change the interest rate, hand the rate to a batch manager or take it back, and close the trove.
* **Earn:** deposit CDP in each branch's **Stability Pool**, withdraw it, and claim what it earned. **yCDP**, which spreads a deposit over every pool, has a card on the same tab.
* **Claim rewards:** APS incentives, the WFLR rewards of WFLR-branch troves, rFLR, and collateral left over after a trove was liquidated or redeemed.
* **Look up any address** to see its troves, deposits and rewards, read only.

The page has four tabs: **Overview** (every branch's price, totals, ratios, average interest rate and Stability Pool APR), **Borrow**, **Earn** and **Rewards**.

## How Enosys Loans works, in short

* **You set your own interest rate**, from 0.5% to 250% a year. The interest is added to your debt as it accrues.
* **Each branch has a minimum collateral ratio.** If your collateral falls below it, your trove can be **liquidated**: the Stability Pool repays your debt and takes your collateral, and you keep the CDP you borrowed.
* **Anyone can redeem CDP** for collateral at face value. A redemption repays debt from the troves with the **lowest interest rates** first and takes the same dollar value of their collateral. A higher rate puts more debt ahead of yours.
* **Stability Pool depositors** earn most of each branch's interest and the collateral of liquidated troves.

[Borrowing](/thanasdefitools-docs/loans/borrowing.md) and [Earning and Rewards](/thanasdefitools-docs/loans/earning-and-rewards.md) explain each part.

## What this page adds to the official app

* **Every rule checked in plain words before you send.** Each form shows the fee, your ratio and liquidation price after the change, and how much debt would be redeemed before yours. Any contract rule the change would break (a paused branch, the minimum debt, a branch's cap, the minimum ratio, a branch below its critical ratio) is explained before anything is sent.
* **A check that the contracts have not changed.** The Enosys Loans contracts can be upgraded at once by a single Enosys key. The page knows the code it was checked against: if any contract it sends to is upgraded, every transaction on the page turns off, with a notice naming the contract, until the new code has been checked.
* **A check that the price is fresh.** The price feeds the contracts use have no staleness check of their own. The page holds back opening, borrowing and taking collateral out on a branch whose price is more than 10 minutes old.
* **Every transaction simulated first**, from your wallet, and sent with a gas limit that leaves room to spare.

## No servers

The page reads and writes the Enosys Loans contracts directly from your browser. It needs no subgraph and no Enosys API. Your troves are found through the Flare explorer, and a trove you open here shows at once, before the explorer lists it.

## Contracts

The page talks only to Enosys's own contracts. Their addresses are in [Deployments](/thanasdefitools-docs/for-developers/deployments.md#loans).

Next: [Borrowing](/thanasdefitools-docs/loans/borrowing.md).