FAQ

1. Can I receive an Airdrop or access token-gated communities while my NFT is part of an outstanding loan?

Yes, with GONDI, you can still access token-gated communities and receive airdrops, even if your NFT is part of an outstanding loan. GONDI supports Delegate Cash for airdrop claims, and Tokenproof for event ticketing.

2. Is GONDI compatible with Gnosis Safe?

Yes! Lenders can keep their capital in a 'Safe.' GONDI's protocol supports the ERC-1271 standard.

3. Can I borrow against any of my NFTs?

Not all NFT collections are whitelisted at GONDI. Visit Whitelisted Collections to find the full list of collections you can use as collateral.

4. How do I enable instant refinancing for my loan as a borrower?

Instant refinancing is enabled by default, so you do not have to worry about it!

5. How can I refinance outstanding loans?

Identify those loans whose terms you are willing to improve, and go ahead and do it. You must transfer the principal + accrued interest to the existing lender. If the new principal is higher than the original one, that difference will be transferred to the borrower.

6. Do I need to pay gas fees to list my items?

Not at all. Listings are gasless as they are signed off-chain.

7. How do liquidations work?

When a single-lender loan defaults, the lender can claim its collateral. If the loan has multiple lenders, the lender with the largest principal can buy out other tranches within 48 hours. If no buyout occurs, the NFT would be auctioned programmatically, and the proceeds would be distributed pro-rata to all lenders, prioritizing senior tranches. For a deeper dive, visit Liquidations, Buyouts & Auctions.

8. Do I need a balance available to make offers to listings?

You can make offers to listings even if you do not have enough capital at the time. These offers will be hidden until that changes (this is automatic).

9. Do you support loans against ERC-1155s?

Yes. ERC-1155 must be vaulted in order to be used as collateral on GONDI.