What is it?
Borrowing means taking tokens from the pool while leaving other tokens locked as collateral. You owe the borrowed amount plus interest until you repay.
Why does it matter?
Borrow size is demand. Rising borrows often push utilization and borrow APY up. For a wallet, borrowed USD is the number Health Factor is protecting.
Example
After supplying ETH as collateral, Maya borrows 3,000 USDC to spend without selling the ETH. She now has debt. If ETH falls a lot, that debt can threaten liquidation.
Where can I find it?
Live Activity filter Borrow. Asset pages show Borrowed and Variable borrow APY. Overview shows Total borrowed and Borrow volume in window.