Repay debt

How to repay borrowed assets on Mirai using funds from a wallet or deposits in Mirai.

When repaying a loan on Mirai, users have several options available to them. The primary method of repayment is by using assets already present in their Mirai sub-account. This can be done by transferring the assets from their wallet to their sub-account, then using those assets to repay the outstanding loan.

Additionally, users also have the option to swap their borrowed assets for different assets they have already deposited into Mirai during the repayment process. This allows for greater flexibility and portfolio management, as users can exchange assets that may have decreased in value for assets that have appreciated. However, this option may also include a swap fee that the user need to pay depending on the protocol.

It's important to note that when repaying a loan, the user should make sure to have enough assets to fully repay the outstanding amount, as well as any additional fees, such as a swap fee, if swapping assets during repayment. It is also beneficial to monitor the collateralization ratio, interest rate and repayment schedule to help ensure successful and timely repayment.

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