> For the complete documentation index, see [llms.txt](https://docs.usance.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usance.xyz/use-it/using-usance.md). # Using Usance Usance is non-custodial, so everything here is a transaction you sign from your own wallet. Nothing below moves value without your signature, and every number is quoted before you sign it. ## Connecting Usance asks for a wallet **once**, on its own onboarding screen, and it asks you to sign a message. That signature is your **session**, stored only in your browser. Signing out (in Settings) clears it locally. It never touches anything on-chain, and it does not close a position or repay a debt. See [Security and authority](/understand-it/security.md) for the difference between connecting, a session, an allowance and a mandate. ## Add collateral Depositing an admitted asset shows you the single most important, most surprising number first: its **recognised value**, which is lower than its market value. The gap is not a fee. It stays in your deposit and you can withdraw it. It is the part Usance will not lend against, because it could not defend it under stress. The deposit screen shows the market value, each haircut, and the recognised amount before you sign. Depositing takes two signatures: an **approval** for exactly the amount (never unlimited), then the deposit itself. ## Borrow Borrowing draws settlement liquidity against your recognised value while your assets stay put. The screen keeps two limits visibly separate, because they have opposite remedies: * **What your collateral supports.** Raise it by depositing more collateral. * **What lenders can currently fund.** Raise it only by waiting for lenders to supply more, since adding collateral will not. The rate is shown as an annual figure and is variable. Every quote is stamped with a [risk epoch](/understand-it/how-it-works.md#5-risk-epochs). If policy moves before you sign, the borrow is refused rather than executed at a number you never saw. ## Repay Repaying is available in **every** account state. It reduces risk, so it is never blocked, and it is the action that returns a restricted account to normal. Closing a loan costs slightly **more than you borrowed**. Your debt is principal plus accrued interest, and only the principal was ever paid out to you. The repay screen quotes the full payoff and offers a "repay everything" option that sends the instruction to close the loan exactly, rather than a fixed amount that would leave dust behind. ## Withdraw Withdrawing collateral is genuinely gated, because taking collateral out while in debt increases risk: * With **no debt**, your collateral is yours to withdraw in full, in any protocol state. * With debt, you can withdraw whatever is not needed to cover it. A restricted account status pauses withdrawal entirely until you repay or add collateral. ## See your position and what happened * **Position** shows recognised collateral, debt, available-to-borrow, your safety buffer, and the status ladder, all recomputed live, never cached. * **Activity** lists every action Usance recorded, each linking to a receipt. It is not a full wallet history. Usance runs no indexer, so anything done directly against the contracts is real and on-chain but will not appear here, and the page says so rather than implying completeness. * Every receipt has a **public version** at `/proof/…` that needs no wallet, so a counterparty can verify a claim without your account context. Opening it from inside the app opens a new tab, so you keep your dashboard. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.usance.xyz/use-it/using-usance.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.