Lend Your Assets
Last updated
Last updated
Lenders can loan out Pynths, stable coins and other assets for interest, backed by the NFT as collateral for the loan. Lenders can leverage up to 3x of their own assets to loan out to earn a higher interest lowering the risk by 1/3.
1. Click 'MARKET' at the top of your website.
2. Click on 'Available for Loan' check box on the left side of the page to filter the list. Click the asset on the list to see the detailed information.
3. Click OFFER LOAN button on the page of asset inforamtion.
4. Set loan terms (loan amount, loan duration, loan APR, leverage rate, Liquidation Method), click on the approval check box and click Place Offer button. (If you choose 'Auction off' for Liquidation Method, the collateralized NFT is put on auction for the liquidation at borrower's default but if you choose 'Lender buys', you have a chance to claim the collateralized NFT for 24 hours at borrower's default. If you don't claim it, then it goes to auction for liquidation.)
5. Check the transaction fee, and click Confirm and Sign.
6. You can see the confirmation message and your loan offer is sent to the borrower. You can be redirected to your loan offer list by clicking View My Offers button.
7. You need to wait until your loan offer is accepted by the borrower. (You can cancel the loan offer only before the borrower accepts your offer by clicking Cancel button.)
8. If the borrower accepts your loan offer, the loan is executed and is listed on market. You can also find your loan on the page of [Lend] My Loans.
9-1. If the borrower repays the debt, status of the loan is changed to Repaid and you receives the payout.
9-2. If the borrower doesn't repay the debt until the expiration date, the status of the loan is changed to Waiting For Lender To Claim (If you chose Lender buys for Liquidation Method - Step 4). You can take the NFT by clicking Claim Asset in 24 hours. If you don't claim it, the asset goes to auction (Step 9-2).
9-2. If the borrower doesn't repay the debt until the expiration date, the status of the loan is changed to Waiting For Auction(If you chose Auction off for Liquidation Method - Step 4). You will receive the payout when the asset is sold at auction.
