In order to get 1200 USDC as loan using ETH as collateral at 120% overcollaterization rate for 45 days at the current exchange rate I need to place 6.23 ETH ($ 1320 worth) as coverage for my loan. The best offer on the platform right now is 7% APR.
What will it cost me?
$ 32 for the full duration and 100 ILK ($ 5 worth of ILK tokens.)
Best part is:
When I repay my loan I will get back my cryptocurrency in full.