NFTuloan Whitepaper
  • Introducing NFTuloan
  • Roadmap
  • Protocol
    • Challenge
    • Crypto Movements
    • Communication
    • Staking Phazes
      • Funding
      • Lenders Selection for Loan Creation
    • Balances
    • Loan Termination
      • Loan Payback
      • Loan to Hotdeal
    • Ethers Withdrawal
    • NFT Collections Estimation
  • Platform
    • Instant Liquidity
    • Staking ETH
    • Marketplace
    • Security
  • Tokenomics
  • DAO
    • Functions
    • Level
    • $veULOAN and Voting Right
  • API Operations
    • Borrowing Functions
    • Staking Functions
  • Resources
    • Team
    • Legal Disclaimer
  • API Operations
  • FAQ
    • General
      • What is NFTuloan?
      • How can I create an account?
    • Liquidity
      • How do I get liquidity?
      • How do I repay my liquidity?
      • What happens if liquidity isn't repaid on time
      • Are my assets protected as a borrower throughout the liquidity period?
      • How long does it take to receive my liquidity?
      • Can I close my liquidity at any time?
      • What are the interest rates for NFTuloan liquidity
      • Can I have multiple liquidity?
      • What are the liquidity durations?
      • My NFT is rare, can I receive a bigger liquidity?
      • My NFT is worth 20ETH and I can only borrow 14ETH. Why?
    • Staking
      • How can I make money with my ETH?
      • How much money can I earn with my ETH?
      • What is the minimum amount of ETH I can transfer? Or the maximum?
      • When do I start earning my rewards?
      • What is my gain when I stake my ETH?
      • When can I withdraw my cryptocurrencies?
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  1. Protocol
  2. Loan Termination

Loan to Hotdeal

PreviousLoan PaybackNextEthers Withdrawal

Last updated 2 years ago

For the V1 protocol, we have set a hotdeal to be a loan which was not paid back in time by the borrower. At that moment, the NFT he has sent to the smart contract will not be its possession anymore. So we will have to place that NFT in our marketplace . And the loan will be renamed a “Hotdeal”.

Lending participants in the loan will be still tagged to receive the ethers they have lent +a commission.

When the hotdeal is active in our marketplace, any person can buy the NFT. The price for sale for this NFT will be at least 30% less than from market sites like opensea. So it can be an opportunity for NFT buyers to buy from our marketplace. When the hotdeal is sold, as the process for loan payback, all lenders involved will be refunded their borrowed ethers, and will receive a commission. Note that this commission will be substantially higher than the commission generated though a loan payback.