What is Lending

SOLARR Credit provides individual lenders with the ability to provide loan offers to a single NFT. A loan offer includes several terms, including the (1). Loan Amount - the amount of ETH/USDT the lender is willing to lend, (2). Loan Period - the loan duration the borrower has to pay off the loan (3). Loan Repayment - the loan amount of ETH/USDT the borrower has to repay, (4). Annualized Yield - used to calculate the amount of interest that will accrue on the loan value. Meanwhile, an expiration time (7 days) will invalidate the offer. Borrowers can accept the offer and instantly establish a loan with the lender at any time. To improve the utilization of ETH/USDT funds, lenders cannot send multiple loan offers to a single item at the same time. Currently, only a limited set of collections are open to loan offers, as we want to avoid collections with high volatility that could result in lender losses. If you are the owner of a collection, you can contact us to add your collection to the whitelist. The lending process on SOLARR Credit involves lenders offering ETH or USDT to borrowers, who provide their NFTs as collateral for the loans. As a lender, you can earn yield for providing a loan, and if the borrower does not pay on the due date, you have the right to foreclose the loan and claim their NFT as the borrower breached the loan. Before starting to use SOLARR Credit, ensure that you have connected your MetaMask.