> For the complete documentation index, see [llms.txt](https://docs.jpegd.io/jpegd-dao/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jpegd.io/jpegd-dao/about-the-jpegd-protocol/lending-mechanics/borrow-with-jpgd.md).

# Borrow with JPGD

JPGD is JPEG'd DAO's governance token. It can be used for [boosts](/jpegd-dao/about-the-jpegd-protocol/jpegd-boosts.md), governance voting and as collateral on JPEG'd.

Get JPGD on [Uniswap](https://app.uniswap.org/swap?outputCurrency=0xCE722f60F35C37aB295adc4E6bA45bCC7ca89Dd6\&chain=ethereum).

The [JPGD](/jpegd-dao/about-the-jpegd-protocol/tokens/usdjpgd.md) vault is similar to the NFT vaults and its parameters are decided by governance. Users can deposit JPGD to borrow pETH at fixed rates. Loans are over-collateralized which keeps pETH overly backed at all times. This means the value backing pETH is always bigger than the value borrowed.

Similarly to the NFT vaults, your JPGD position would get liquidated if the price of JPGD tanked and the health of the position goes to 0%. Health is related to the current [Loan To Value](/jpegd-dao/about-the-jpegd-protocol/lending-mechanics/loan-to-value-ratios-and-liquidation-thresholds.md) ratio of your position. Like for any other borrow, monitor your health at all times.

<figure><img src="/files/OIksfnvkOfRAYqyMOzpH" alt=""><figcaption><p>The JPGD Lending page</p></figcaption></figure>