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Loan offers & Buy Offers
Loan offers can be created on Gondi's Dapp or through its API.
Loan offers must include:
- Maximum Principal amount (in WETH or USDC)
- APR expressed as a percentage
- Due date for repayment
- Origination Fee (optional)
- Expiration date
Loan offers can be created for specific items or collection-wide (including for ArtBlocks collections). Lenders are allowed to make multiple offers to the same NFT.
An offer's principal is the maximum amount allowed to be borrowed from that offer. A borrower might choose to accept and offer but take only a portion of the principal at the same APR.
Lenders can manage their exposure in collection offers by setting a capacity number of loans that can be originated from it. Similar to item offers, lenders can create multiple offers for the same collection. All offers (item and collection-wide) can be accepted for both regular loans as well as BNPL. Loan offers can be cancelled on-chain before expiration by the lender or alternatively, hidden from the Gondi dapp although they would still be active on-chain until expiration.
Buy offers can be created for items in outstanding loans which allow lenders to sell & repay their loan with one transaction in case they don't have enough liquidity to repay before due date.
Buy offers can also be creating at Gondi and include a 0.5% fee. Native buy offers can only be created for specific items and only for those in outstanding loans.