Bit5 Documents
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  • 👋Welcome to Bit5
  • Overview
    • 💡What We Do
    • ✨Our Features
    • 🏁Get Started
      • Create a Wallet
      • Connect Your Wallet to Bit5
  • Product Guides
    • 🛍️Marketplace
      • Buying an NFT on Bit5
      • Selling an NFT at Bit5
      • NFT Rarity Calculation
      • Royalties
      • Fee Calculation and Limits
      • Service fee discount with privilege collections
      • Pausable
      • Global Transactions
      • Accept Global Bid As Owner
  • 🥏Bit5 as a Launchpad
    • Minting Application
    • Project Verification
    • Collection Application
  • 🤝Lending and Borrowing
    • Borrow BNB with Your NFTs
    • Earn Interest by Lending BNB
  • ✋Vote
  • Universal Wrapper
    • DN 404
    • How it works?
    • FAQ
  • 🏵️Services
    • Convertion of Static Nft to Dynamic Nft (dNft).
    • NFT Minting
    • Token Minting
  • ☑️Road Map
  • Resources
    • ❔FAQs
    • 🔗Links
      • Collection Application Form
      • Minting Application Form
      • Verification Form
      • Voting Application Form
      • Telegram Announcement
      • Twitter
      • Discord
      • Telegram Bit5 Listings
      • Telegram Bit5 Sales
  • Legal
    • 📃Terms Of Service
    • 🔏Privacy Policy
  • Partnership
    • Trading View
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Lending and Borrowing

You can perform your borrowing and lending transactions with your NFTs at Bit5. Borrowing and lending transactions have their own unique steps, conditions and results. You can continue with any of these steps according factors such as loan tems.

To perform these oparations, you must approve some risks for Lending and Borrowing transactions on your wallet. This is a one-time allowance. It warns you of the risks involved and asks you to confirm that you are willing to take these risks. After completing this step, you can continue with your transactions and revoke your consent at any time.

The typical loan terms

  • Loan Value: The amount of BNB the lender is willing to lend.

  • Repaymant Value: The amount of BNB the borrower has to repay, which consists of the amount borrowed and interest

  • Duration: The specified amount of time for the borrower to repay the loan

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Last updated 1 year ago

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