😅Repaying a Loan

Time has almost run out! Everything you need to know to save your NFT from default.

Borrowers can make repayments from either the Borrower Dashboard or the Borrow screen.

Borrowers click the "Repay Loan" button to make a repayment. The Repayment amount is calculated as the Principal + Interest Accrued.

Any amount less than a full repayment (Principal Borrowed + Interest Accrued) will count as a partial repayment. The borrower can make partial repayments to reduce the amount of principal owed at the end of the loan, as well as the interest accrued over the remaining duration of the loan.

Once the loan is repaid, the collateral NFT is returned to the borrower's wallet and the loan is updated as Repaid on the Borrower's Dashboard.