We’re pleased to announce the addition of Chainlink (LINK) as collateral on Bitfinex Borrow, a peer-to-peer (P2P) digital token loan portal. Bitfinex customers will be able to obtain loans of up to 70% of the value of their LINK holdings in US Dollars (USD) and Tether tokens (USDt). At the date of this announcement, the borrowing rate for LINK was 4.878% Annual Percentage Rate (APR). Borrowers can now select LINK from the list of currencies they wish to use as collateral, displayed on the Bitfinex Borrow page, before depositing sufficient collateral into their Margin wallet. A customer can choose between a variable interest rate based upon the Flash Return Rate (FRR) or a fixed-rate loan. The annual and daily rates, as well as total lending and repayment amounts, are calculated based upon the amount used as collateral, the loan amount, borrowing period and preferred interest rate option. Borrowers can choose the length of time over which a loan is repaid, with fixed-rate loans offering a maximum 120 day term. When an outstanding fixed-rate loan expires after 120 days it is automatically converted into a variable-rate loan. The personal loan will be credited to a borrower’s Margin wallet. Borrowers can make partial or full repayments on both the principal and interest of the loan by moving funds back into their Margin wallet, thereby reducing their daily interest rate. Borrowers will have to manage their own risk of the fluctuating LINK price. Bitfinex customers will need to be verified at the intermediate or full level to obtain access to Bitfinex Borrow. While users verified at the intermediate or full level can withdraw cryptocurrencies from the platform, only fully verified users can withdraw fiat from the platform. To begin the verification process today, please visit: https://www.bitfinex.com/verification For more information on Bitfinex Borrow, please visit the dedicated knowledge base article. Important Notes Nothing in this post is financial, investment or other advice. Nothing in this post is an offer to borrow or lend or the solicitation, recommendation or endorsement of any course of borrowing or lending. Any references in this post to returns are only hypothetical and not guaranteed. * The rates, payment amounts and collateral price reflected represent an estimate, based on current market conditions, of the interest rates and amounts payable based on the loan amount, collateral and duration selected. These values are hypothetical and not guaranteed to be the same as, or reflective of the actual interest rate, payment obligations or collateral price applicable to a loan a user decides to take. This information is provided for information purposes only.