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Ethereum API Error: Maximum Loan Amount Exceeded

The Ethereum API provides a robust system for managing loans and margin trading. However, it looks like an error occurred during code execution. In this article, we’ll take a closer look at this error and how to fix it.

Error: APIError(code=-3006)

Error -3006 means that there was a problem with the loan amount exceeding the maximum allowed amount. This can happen for a variety of reasons, such as insufficient funds or incorrect parameters being passed to the API. The exact cause of this error may vary depending on the specific scenario.

Understanding Loan Amount

In the Ethereum API, lending and margin trading involves managing your available funds against the total value of the assets you want to lend or borrow. The maximum loan amount is set by the network, which ensures that there are sufficient funds available for transactions. If this limit is exceeded, the API will throw an error.

Resolving the error

To resolve this error, we need to make sure that our parameters are correct and within the allowed limits. Here are some steps you can take:

• Check available funds

  : Make sure that you have enough funds to lend or trade on margin.

• Check API parameters: Make sure that the amount parameter in the request is within the allowed range (e.g. 1000 BTC to 20000 BTC).

• Adjust your strategy: If you have exceeded the maximum loan amount, consider adjusting your strategy to reduce risk or postpone further lending.

Code example: resolving the error

Here is an example of how we can modify our code to resolve the API error:

import requests





Replace with API credentials and other settings
client = requests.client()
def get_isolated_margin_account(symbol):

Make a GET request to the API
info = client.get(f'
try:

Analyze the response data
balance = float(info['balance'])

Calculate total BTC assets
totalAssetOfBtc = balance / 10**8
precision = 5
order = ...
feedback, totalAssetOfBtc, precision
except requests.exceptions.HTPError as http_err:
print(f'An HTTP error occurred: {http_err}')
except ValueError as err_val:
print(f'An error occurred value: {err_val}')

Replace with your API credentials and other settings
info, total_assets_BTC, precision = get_isolated_margin_account('BTCUSDT')
if info['totalAssetOfBtc'] > 20000 or (info['balance'] / 10**8) > 1000:
print("Error: Maximum loan amount exceeded.")
otherwise:

Continue your strategy
order = ...

In this example, we first send a GET request to the API to retrieve information about a specific symbol. Then we analyze the response data and calculate the total BTC holdings. Finally, we check if the total assets exceed 20000 BTC or if the balance exceeds 1000 BTC. If any of the conditions are met, we print an error message and do not continue lending or trading.

By following these steps and taking the necessary precautions, you should be able to resolve the API error and successfully manage loan amounts in the Ethereum API.

TECHNICAL ASPECTS ZCASH EXPLAINED