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nftcollaterizedloans's Introduction

NFT Collaterized Loans

P2P NFT Collaterized Loans on Solana

How Does It Work?

  1. Borrower Locks NFT + Additional Collateral (In Stablecoins)
  2. Borrower Places an Order
  3. Lender Looks At The Orders
  4. Selects The Order (Program Internally Transfers Money From Lender to Borrower)

5:

If Borrower Pays Loan Amount + Interest Before Repayment Deadline, The Borrower Receives The Collaterals

If Borrower Doesn't Pay Before Deadline, The Lender Gets Rights To Withdraw Borrower's Collateral

Sidenote:

In case you found this useful, feel free to send some $SOL to gajesh.sol

nftcollaterizedloans's People

Contributors

gajesh2007 avatar

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