- For Borrowers
- For Option Sellers
- For Lenders
- For Option Buyers
For Borrowers
Gain access to the full potential of your NFTs using the Option protocol. By binding your NFT to the protocol, you can use its two main functionalities: NFT-loan and NFT options.
How it Works
01
List your staked NFT and start borrowing ETH
List your staked NFT as collateral to borrow ETH from other users. By doing so, you are selling your staked NFT to borrow ETH and have the right to execute your contract at any time.
02
Customize your loan terms on our platform
Our decentralized platform allows you to set your ideal borrowing amount, APY, and duration, and wait for other users to view your offers and purchase them.
03
Sell your staked NFT
Repay the loan to redeem your NFT back
Repayment is also known as the strike price for your staked NFT. It is your borrowed amount plus the interest. Repay the strike price within the contract duration to get your NFT back.
Option not to repay and forfeit your NFT
You can also choose NOT to repay the loan. This is another way for you to hedge against any downfall risk. Doing so will keep the ETH you borrowed, but you will also lose your NFT.
FAQ
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