Sell Promissory Notes
Last updated
Last updated
Lenders will receive 'a promissory note’ when they lend to borrowers. A promissory note represents the right that the lender will be paid back the principal plus interest after a certain period and receive the NFT in case of the foreclosure of the loan.
1. Go to your inventory by clicking your 'wallet address' and 'My Portfolio' at the top right of your website.
2. Click the promissory note you want to sell in your Inventory.
3. You will see the page of promissory note information. Click SELL button at the top right side.
4. Pop-up window will appear and you can choose the sale type by clicking 'Fixed Price' or 'Timed Auction'.
5-1. (If Fixed Price is chosen) Select payment token and enter amount you want to sell for and click the Complete listing button.
5-2. (If Timed Auction is chosen) Select payment token and enter starting & ending price you want to sell for, select duration of auction, and click Complete listing button.
6. Check the transaction and gas fee, and click Confirm.
7. Once the transaction is completed, you can see the confirmation message and be redirected to your inventory by clicking View My NFTs button. You can also find your asset listed on 2nd MARKET. (If the loan expires before your promissory note is sold, it will disappear.)
8. If the promissory note is sold, you will receive the payout transferring the lender's right to buy the promissory note. Then the loan description will disappear on the page of [Lend] My Loans and also be transferred to the buyer of the promissory note.
