Sending vTokens while being in debt

General Discussion Venus Discussion
1

Hello,

I have a question, that has maybe already been answered, but didn’t find it unfortunately.

So, I have BTC, ETH and BNB in collateral (have vBTC, vETH and vBNB tokens in wallet). Based on that collateral, I borrowed some assets and have a good health ratio (let’s say 2.1). I wanted to move all of the funds I have on Address 1 to Address 2. I sent vBNB tokens - they went through, then I wanted also to send vBTC and vETH, but they didn’t go through. I understand that most possibly it is because of the outstanding debt, but is there a way to “move debt” as well. The reason I want to move the vTokens is also because in the event of the security breach, I’d like to quickly move the funds to safe wallet, that would include the Venus assets as well.

Any solution to this problem, except repaying the debt? Thank you!

2

No way, by design. You cannot move collateralized assets unless you pay your debt back.
It could have been possible to implement a migration of the debt+collateral at the same time, but it would have inflated the Smart Contracts (and gas cost) for a marginal usage.

3

Hey, Thanks for answering - I understand. Have to devise alternative strategy in case of breach… Best regards!