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Lending: Guide for Borrowers

Need liquidity? Use your valuable ExperienceNFTs or Fractions as collateral to request a loan from the community.

1. Creating a Loan Request​

  1. Navigate to your Dashboard and find the asset you wish to use as collateral in your "My Collection" or "My Inventory" tab.
  2. From the asset's "Actions" menu, select "Request Loan".
  3. A modal will appear, prompting you to define the terms of your loan:
    • Currency: Choose whether you want to borrow SUI or TKT.
    • Borrow Amount (Principal): The amount you wish to receive from a lender.
    • Repayment Amount: The total amount you will pay back at the end of the term. The difference between this and the principal is the interest you are offering the lender.
    • Loan Duration: The length of the loan (e.g., 7, 14, or 30 days).
  4. Submit the transaction. Your asset will be transferred into a publicly visible LoanRequest object on the /lending marketplace, held securely in escrow.

2. Receiving Funds​

Once a lender decides to fund your request, the principal amount you requested is instantly and automatically transferred to your wallet. Your LoanRequest is converted into an ActiveLoan, which you can view in your Dashboard.

3. Repaying the Loan​

In your Dashboard, under the "My Loans" tab, you will find a section for "Loans I've Borrowed".

  • Before the due date, you can click the "Repay" button.
  • You will be prompted to sign a transaction to send the full repayment_amount.
  • Upon confirmation, the repayment is sent to the lender, and your collateralized NFT or Fraction is instantly and automatically returned to your wallet.