The JPG Store Borrowing feature allows users to offer their NFTs as collateral for ADA loans. As a lender, you can review and accept lending requests based on terms that suit you. Here’s how you can use this feature effectively.
Step-by-Step Guide
1. Navigate to the Loan Listings
Go to the collection page of the NFT you are interested in.
Click on the Loans tab, then select Lend.
Here, you will see all available loan requests for that collection.
2. Select a Loan to Accept
Review the loan details, such as:
Amount requested (in ADA)
Interest rate
Duration of the loan
Choose a loan request that fits your lending preferences.
Tip:
Each loan is tied to a specific NFT as collateral. Hover over the NFT image to:
View its top traits.
Check the floor price of each trait.
Evaluate its rarity or features, which may be valuable if the borrower defaults and you receive the NFT.
3. Review Loan Details
Click on Lend ADA for the loan you wish to accept.
A detailed loan summary will appear, showing:
Collateral details (the NFT being used as collateral).
Loan terms: requested amount, interest rate, and duration.
Estimated earnings: the amount you’ll earn after interest and fees.
Important:
Carefully review these details before signing the transaction.
Additional Notes
If the borrower defaults (does not repay the loan), you will receive the NFT that was offered as collateral.
Ensure you are comfortable with the loan terms and the potential value of the collateral before proceeding.
By following these steps, you can confidently lend ADA on JPG Store and make informed decisions based on your preferences.
