Welcome fellow developer. Here we discuss how our Loan Origination API works and how can you integrate your app to give your users the option to borrow assets against their NFTs. We’ve identified two integration routes that can be possible:

Loan Origination and Settlement on the Integration Partner’s Front-end

Loan Origination Overview

Goblin Sax provides loans against select NFT collection. The whitelist is reviewed every two weeks and updated every month. The users can apply for the loan either from a dedicated page where all the qualified NFTs (that the user owns) can be listed, or if the user is viewing an whitelisted NFT, they’d get a prompt with a quote.

This is how the process of getting a loan could look like on the front-end

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  1. The user can choose the NFT qualified for the loan from a dedicated section on the website, or could get a prompt on the individual NFT Page. The offer visible here could be at the maxLTV so that it drives the interest in user. Following information related to the NFTs that can be borrowed against would be displayed:
    1. Name
    2. Collection
    3. Max Loan
  2. Once the user is interested in getting the loan, the user would be asked for the loan duration. The loan duration could be:
    1. 7D
    2. 14D
    3. 30D
  3. Once the user chooses a duration, multiple loan amounts and APRs would be displayed. The Loan amounts would be a fixed value and the user won’t be able to add a custom value.
  4. After choosing the loan amount, user would proceed to execute the transaction.

Loan Settlement Flow

  1. Once the user has taken a loan, they would be able to view the loan in the Active Loans section. The following information would be visible to the user:
    1. NFT Name
    2. Collection
    3. Status
    4. Duration & Due Date
    5. Loan Value
    6. Repayment
    7. APR
  2. The user can click on the loan position from the active list, and the same information could also be viewed.
  3. User can choose to repay the loan before the due date or on the due date/time. Once the user wants to repay the loan, they must have the repayment amount in their wallet. Once the user clicks on “Repay”, the wETH would be transferred from their wallet and they’d have the custody of the asset.

Loan Origination and Settlement on Goblin Sax Front-end