> ## Documentation Index
> Fetch the complete documentation index at: https://docs.anvil.markets/llms.txt
> Use this file to discover all available pages before exploring further.

# Borrow, repay & withdraw collateral

> Manage debt and collateral as one position.

Borrowing requires collateral and available pool liquidity. The program evaluates your position and the market's limits; a displayed token balance is not a promise that the same amount can be borrowed.

<Steps>
  <Step title="Add collateral">Choose a pool, select the collateral action, and approve a deposit. These tokens move into the pool's program-controlled accounts.</Step>
  <Step title="Borrow">Enter the debt-token amount. Review the rate, projected position health, and transaction before approving. Leave room for interest and adverse price moves.</Step>
  <Step title="Monitor the position">Interest and market conditions can change your debt and health. A position that crosses the protocol's limits may become eligible for liquidation.</Step>
  <Step title="Repay">Select repay and set the maximum you want to spend. The pool takes the amount required up to that limit. Transfer fees can reduce the debt actually repaid; check the remaining debt after confirmation.</Step>
  <Step title="Withdraw eligible collateral">Use the withdrawal action. Outstanding debt, position health, pool conditions, and token restrictions determine how much can leave.</Step>
</Steps>

## If a market is under review

Reduce-only mode pauses new borrowing and liquidity deposits. Repayment and eligible withdrawals follow the pool's rules. It does not promise to instantly return all deposits or bypass an issuer freeze.

The optional future liquidation bidder is separate from the protocol's liquidation mechanics. Its absence is not protection from liquidation. See [roadmap](/protocol/roadmap).