Start by accessing eBTC, ensure you are logged in with the correct wallet.

Once logged in, head to the ‘Borrow’ tab or section. This is where you can open a CDP.

Select the asset you wish to use and its amount. Keep in mind there’s a minimum of 2.2 stETH required.

Select the Collateralization Ratio of your position, which represents the proportion of your collateral's dollar value to its debt. This ratio is crucial in determining the level of risk you're comfortable with.

125% (Higher Risk): This ratio offers higher borrowing potential, but it comes with increased risk. If the value of your collateral decreases significantly, you could face liquidation more rapidly.

150% (Medium Risk): A balanced option, this ratio provides a moderate borrowing capacity. It's a middle ground between high risk and low risk.

200% (Lower Risk): This is the safest option among the three predefined ratios. It offers the least borrowing potential, but your position is less susceptible to market volatility.

Custom: If you have a specific ratio in mind that isn't one of the predefined options, you can manually input it here.

Ensure you understand the implications of your chosen ratio. A higher collateralization ratio reduces the risk of liquidation, but it also limits your borrowing capacity. Conversely, a lower ratio increases your borrowing capacity, but it also heightens the risk of liquidation.

The elongated bar graph beneath the collateralization options offers a visual representation of the historical safety of your chosen ratio against market fluctuations. By referencing the stETH/BTC price data from the past 52 weeks, it shows how frequently your proposed loan would have been shielded from potential liquidation based on past market behavior. In essence, the filled segments of the bar represent the periods when the loan would have been safe, providing you an informed snapshot to anticipate the potential risk and stability of your current choice against historical data.

Upon choosing your collateralization ratio, the platform will display your borrowing capacity in eBTC. This amount is determined by the quantity of stETH you've set as collateral and the collateralization ratio you've selected. Here's how to navigate this step:

Displayed Amount: This is the maximum eBTC amount you can borrow given your current collateral and selected ratio.

Gas Stipend: A portion of your deposit, 0.2 stETH, is set aside as a Gas Stipend. It acts as a buffer during potential liquidation events. If your position faces liquidation, this stipend serves as an incentive for liquidators to settle your position. However, when you decide to close or adjust your position, the full amount of your original deposit, minus any liquidation fees or charges, will be returned to you.

Liquidation Price: This value indicates the stETH/BTC price threshold at which your position becomes susceptible to liquidation. If the market price drops to or below this price, you risk having your collateral liquidated. It's essential to monitor this and ensure your position remains safe.

Fees: The platform will outline any associated borrowing fees. In this example, eBTC has no associated borrowing fees, making the transaction cost-effective.

Always ensure you understand the terms and implications before proceeding to borrow. It's advised to monitor market conditions and your position regularly to avoid potential risks.

Ensure all the details in the position are correct, then ‘Approve’.

Review the details in the confirmation prompt carefully. Once satisfied, proceed to confirm the closure action. Confirm the transaction in your web3 wallet and pay any associated gas fees.

Upon successful deduction of the collateral from your wallet and the creation of the CDP, you will receive a notification and your eBTC will be available in your wallet.