How to borrow $BNB to participate in TGE

Step 1: you open the web3 wallet and find the Dapp "Venus"

Step 2: you add USDT and then select Collateral to set USDT as the collateral asset

Step 3: you borrow BNB and receive BNB directly in web3. Then you add BNB to TGE. Note that you should only borrow 50% of your capital; otherwise, if BNB increases, you will be liquidated. For example, if you borrow BNB when the price is 1 BNB = $1,000 but if it reaches the liquidation threshold of $1,500, then Venus will use the USDT you pledged to buy BNB at $1,500 to cover.

What should you do if you are liquidated? At that time, you should sell BNB immediately when liquidated to recover USDT. To avoid liquidation, you should borrow a few minutes before TGE ends, around 5 minutes is okay.

In summary, there are 2 ways to play TGE:

1: you buy spot and then short to maintain the price

2: you borrow BNB from Venus and pay back (note not to get liquidated)