# How to Open a Loan

Follow these simple steps to open your first loan on the GVNR Diamond Hands platform:

#### 1. Connect Your Wallet

Start by connecting your crypto wallet to the **GVNR Diamond Hands** platform.\
Follow the wallet’s signing prompts to approve the connection.

#### 2. Navigate to “Open Loan”

Once connected, go to the **Open Loan** section in the platform interface.

#### 3. Set Your Collateral and Borrow Amount

Choose how much **BTC** you’d like to deposit as collateral.\
Then, select the amount of **UCD stablecoin** you want to borrow.

> 💡 The borrowing limit is based on a **Loan-to-Value (LTV) ratio of 66%**.

#### 4. Choose Your Payout Stablecoin

Select which stablecoin you want to receive when the loan is finalised:

* **USDT** (Tether)
* **USDR**

#### 5. Review Your Loan Summary

Before confirming, review the loan summary carefully. You’ll see details including:

* BTC deposit amount
* BTC price at time of acceptance
* Collateral ratio
* Liquidation ratio
* Term duration
* Fees payable
* Total UCD minted
* Available capital

#### 6. Create Your GVNR Diamond Hands Vault

Next, create your **Vault** by signing your loan terms. This confirms your agreement to the conditions.

#### 7. Complete the Loan Process

Once the terms are accepted, the following actions will occur automatically:

* Your **BTC is deposited** as collateral
* **UCD is minted**
* UCD is **swapped into your chosen stablecoin (USDT or USDR)**

#### 8. Manage Your Vault

After setup, you can enter your Vault to monitor and manage your loan.\
Here, you can:

* Track loan health
* Make repayments
* View your transaction history


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