> 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/cdp-lending-guides/borrowing/open-a-position.md). # Open a Position Users can open a position from the [JPEG'd Dashboard](https://jpegd.io/dashboard) on the dApp. .Borrowing is easy and can be done in a few simple steps. Watch the tutorial, or follow the steps below. {% embed url="" %} ### 1. Select the collection you want to use as collateral from the collection dropdown menu

The Dashboard shows you your available assets to borrow against and your positions.

### 2. Select the NFTs you want to use as colleteral

When selecting NFTs, the action button will be activated, showing all the actions that can be taken with the selection.

### 3 Click the "BORROW" button in the action bar

### 4. Choose the currency and amount to borrow It's also possible to opt-in for [liquidation insurance](/jpegd-dao/about-the-jpegd-protocol/liquidation-insurance.md). \ Please note that for borrowing against Cryptopunks, they need to be first deposited in the escrow contract before they can be used as collateral. The deposit transaction will queue up from the modal and borrowing will be enabled once all selected cryptopunks have been transferred.

### 5. You have now opened positions on JPEG'd and have been taken to the borrows tab from where you can manage your borrows.