🏃♂️Lender Quick-Start Guide
From 0-to-Lending in less than 5 minutes.
Intro
Welcome to the NiftyApes Quickstart Video.
In this short video I will demonstrate how you can go from zero to lending in about 5 minutes.
If you have any questions, ideas, or feedback for us, don't hesitate to reach out! You can find us on Discord or Twitter.
Connect Wallet
It's worth calling out that I am demo-ing this on fork of Mainnet running on Hardhat.
For you to use the NiftyApes dApp please make sure you are set to Mainnet or the Goerli testnet.
Adding Liquidity
In order to create offers, I first have to deposit liquidity. As you can see here, I have a dashboard displaying my total balance (which is zero) as well as what is available and what's in use.
Available is the liquidity I can use to create offers and withdraw. Available liquidity is still earning me interest in Compound.
In-Use is liquidity currently earning me interest in active loans against NFTs.
I'll click deposit either here... Sign the transaction... And perfect. My liquidity has been deposited.
In order to withdraw any available liquidity, I just need to flip the tab to "Withdraw" and select the appropriate amount...
Creating Offers
Next, navigate to Create Offers. This is where I set collection-wide offers on any NFT collection in existence.
For your convenience, we've hard-coded the top 25 NFT collections, like Bored Apes or Moon Birds into the navigation screen.
If I have an NFT collection I want to add that is not listed, I can also copy/paste the collection's contract address. Here's the contract address for QQL's Mint Pass.
0xc73B17179Bf0C59cD5860Bb25247D1D1092c1088
I'm going to make a couple of offers on Bored Apes...
Let's go with an industry standard 30% LTV first. I'm going to hit "draft offer" just to auto-fill with the top offer. I'm going to set it to be good for 30 days, and 30 loans
Next, let's go with something a little crazier..and do a 80% LTV for 2 days... This offer is based on the current floor. I'll set this one to expire for 7 days. After 7 days, I can check the floor price and reinitiate the offer here. And because I want to control my exposure on these high LTV loans, I'm going to limit the number of uses here to just 5 loans.
As you can see, both of my offers are represented in the offer book.
And there you have it and I am officially Lending on the NiftyApes protocol.
Anyone with a Bored Ape can use my offer on a collateralized loan.
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