NFT Bonds
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Both parties (borrower and lender) receive an NFT Bond when either party creates a liquidity request, supplies a request, or deposits liquidity. NFT Bonds are classified as either B for Borrower or L for Lender.
The B NFT Bond is for borrowers who have created a liquidity request or their request has been funded or they have taken liquidity deposit from the Lender;
The L NFT Bond is for users who have funded a liquidity request or created a liquidity deposit.
NFT Bonds are used to secure Liquidity requests or Deposits. A loan cannot be repaid without the underlying NFT Bond.
The Borrower must provide the NFT Bond + loan amount to withdraw the collateral.
The Lender must provide an NFT Bond to withdraw the lent-out assets plus the pending interest.
All NFT Bonds are transferable and redeemable from any other wallet, meaning users can buy or sell them. To make the process seamless, Lenfi will implement an NFT Bond Marketplace with the help of one of the top marketplaces where users can sell their loans or become liquidators.
