🤝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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