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GONDI Docs

Sell & Repay

Sell & Repay lets borrowers sell escrowed NFTs directly through GONDI. Sale proceeds automatically repay the outstanding loan, with any surplus transferred to the borrower’s wallet.

Selling Methods

Section titled “Selling Methods”

Fixed-Price Listing

Section titled “Fixed-Price Listing”

Set a price and list your escrowed NFT for sale. When a buyer purchases at your listed price, the loan is repaid and you receive the difference.

  • Public listing - Visible to all buyers
  • Private listing - Restricted to a specific wallet address
  • Off- Market listings - Set a private asking price for an escrowed NFT.

Accepting Bids

Section titled “Accepting Bids”

Buyers can place bids on any escrowed NFT. As the borrower, you can accept any bid that covers your outstanding debt (principal + accrued interest).

  • No minimum bid floor requirement
  • You can receive and compare multiple bids before accepting

Cross Currency Bid Acceptance

Section titled “Cross Currency Bid Acceptance”

With the Cross Currency Purchase Bundler, you can accept bids denominated in a different currency than your loan. If your NFT is escrowed under an ETH loan and you receive a USDC bid, you can accept it — the contract automatically swaps the proceeds to your loan currency, repays the loan, and sends you the remainder.

How It Works

Section titled “How It Works”
  1. Your escrowed NFT receives a bid in a different currency than your loan
  2. You accept the bid
  3. The contract sells the NFT and receives the bid currency
  4. The proceeds are swapped to your loan currency via Uniswap
  5. Your loan is repaid from the swapped proceeds
  6. Any surplus is sent to your wallet

Example: ETH Loan, USDC Bid

Section titled “Example: ETH Loan, USDC Bid”

You have a 5 WETH loan against your NFT. A buyer places a bid worth 15,000 USDC:

  1. You accept the USDC bid
  2. The contract receives 15,000 USDC from the buyer
  3. It swaps enough USDC to cover your 5 WETH loan repayment (plus accrued interest)
  4. The loan is repaid in WETH to the lender
  5. Remaining USDC is sent to your wallet

Slippage protection is built in — the contract validates the swap against a price oracle to ensure fair conversion rates.

Without a Loan

Section titled “Without a Loan”

Cross currency bid acceptance also works for NFTs not currently in a Gondi loan. You can accept a bid in any supported currency, and the contract handles the conversion for you.

Requirements

Section titled “Requirements”
  • Listing price must cover the outstanding principal plus interest accrued through the listing expiration date
  • Listing expiration must be set before the loan due date
  • Only fixed pricing is available — auctions are not supported
  • One active listing type per NFT at a time (either public or private, not both)
  • Off-Market listings used with Sell & Repay must satisfy the same required as other S&R listings.

Settlement

Section titled “Settlement”

When a sale completes:

  1. Buyer pays the purchase price
  2. Outstanding loan (principal + accrued interest) is repaid to the lender
  3. Protocol fee is deducted (see Protocol Fees)
  4. Remaining surplus is sent to the borrower

Example

Section titled “Example”

Your outstanding debt is 2.1 WETH (2 WETH principal + 0.1 WETH accrued interest). You list the NFT for 3 WETH:

  • Buyer pays: 3 WETH
  • Loan repayment: 2.1 WETH
  • S&R fee (2%): 0.06 WETH
  • You receive: 0.84 WETH

Key Details

Section titled “Key Details”
  • Interest continues accruing during the listing period
  • Listings can be cancelled anytime before the sale completes
  • Vault NFTs are sold as complete units
  • CryptoPunks must be wrapped to list on GONDI