Navigating a new platform can be challenging, especially for those new to the concept of NFT lending and borrowing. Therefore, you may have several questions about Liqds platform.
In this educational guide, we will address some of the FAQs and provide a step-by-step summary of key processes involved in using Liqds platform.
Liqd is a safe platform for NFT lending, using an escrow system through smart contracts to protect both borrowers and lenders.
The platform's smart contracts have been audited by Hacken, receiving outstanding scores in documentation quality, IT security, architecture quality, and smart contract quality and security.
No vulnerabilities were found, and the platform's primary smart contracts passed rigorous performance and security testing. These results demonstrate Liqd's commitment to providing a secure and reliable experience in the DeFi space.
To ensure only verified NFTs are used as collateral on Liqd, we accept suggestions for new NFT collections to be whitelisted. To request a new collection, simply visit Liqd NFT Feedback, sign in, and submit your suggestion with the series name and OpenSea link.
You can repay your loan early, but the full interest amount is still due. Upon full repayment, the collateralized NFT will be transferred back to your original wallet.
As a lender, you will receive the full interest amount, even if the borrower repays the loan early.
Obtaining a loan on Liqd involves these steps:
View our full post on this FAQ here.
Liqd partnered with Nabu to provide accurate valuations for NFT assets. To view Nabu valuations on Liqd, connect your wallet, copy the link provided, add the contract address, and hit enter to view the NFT valuation.
Borrowing Against Your NFTs with Liqdnft.com:
To borrow against your NFTs, follow these steps:
View our full article on this topic here.
By understanding the processes outlined in this guide, you can confidently navigate the world of NFT lending and make the most of the opportunities provided by Liqd.
