🔄NFTFi

Re-defining NFT Utilities on Bitcoin Ecosystem

Collateralize NFTs to borrow and lend to earn passive income.

In the NFT lending process on the TREX Marketplace, borrowers initiate by listing their NFTs along with their desired loan amount, APR, and duration. Lenders, in turn, review the listings and propose their terms, specifying the loan amount, APR, and duration. Upon acceptance of the lender's offer by the borrower, the borrower's NFTs are deposited into the TREX Escrow Wallet, while the lender's funds are similarly secured.

The TREX Escrow Wallet conducts verification procedures for both parties and subsequently disburses the funds to the borrower, holding the borrower's NFTs as collateral for the borrowed funds. The borrower is then responsible for repaying the borrowed amount plus the agreed-upon APR within the stipulated timeframe. Upon completion of the transactions, the borrower's collateralized NFT is released from the TREX Escrow Wallet, returning it to the borrower, while the lender receives their funds.

In the event of a borrower's failure to repay the borrowed funds along with the APR within the agreed timeframe, the contract triggers the liquidation process. Consequently, the lender obtains ownership of the collateralized NFT as compensation.