> For the complete documentation index, see [llms.txt](https://docs.wemix.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.wemix.com/nile-en/guides/nftfi/apply-for-borrow.md).

# Apply for Borrow

<figure><img src="/files/iyePX2HQTAO9s1ShW0nQ" alt=""><figcaption></figcaption></figure>

* Connect a wallet that supports the WEMIX 3.0 Mainnet.

<figure><img src="/files/SkbcNEq5a8UzKzoqiomq" alt=""><figcaption></figcaption></figure>

* Check out the process for using the Borrow service.&#x20;
* To register for a Borrow, you must possess NFTs that are eligible for use on NFTFi. All NFTs supported on NILE's marketplace, except for ticket NFTs, can be utilized through the NFTFi service.

### Select Collateral NFT

<figure><img src="/files/lMv6rAx5cXQiQigs9YCB" alt=""><figcaption></figcaption></figure>

* Select the NFT that you would like to use as collateral for the borrow application.

### Set Borrow Conditions

<figure><img src="/files/Sm376AGlXb55O9FlEHq4" alt=""><figcaption></figcaption></figure>

* Set the borrow amount and annual borrow fee rate, which are detailed inputs on the borrow application.
* You can use the same type price chart to check the relevant data of NFTs within the same collection, all of which possess an equal amount of Covenant.
  * Covenant: The converted value of the Covenant for NFTs of the same type
  * Average Sales: The daily average value of the initial sale and secondary market transaction price for NFTs of the same type
  * Average Bids: The daily average value of final bid prices for NFTs of the same type
  * Successful Bid: The amount of successful bid per transaction for NFTs of the same type
* You can check the recommended borrow amount by clicking the 'Recommend Amount' button.&#x20;
  * The 'Recommend' button will only be displayed if there is available data on the average bid price for NFTs of the same type within the last 7 days.
  * *The recommend borrow amount is determined based on the average borrow amount from recent transactions. Please note that the borrow applicant is responsible for any decision.*
* After entering the conditions, you can set the bid period after reviewing the calculated annual borrow fee rate and the fixed borrow fee for the conditions.
* The platform fee rates will apply based on the set bid period as following\
  : **12 hours (0.10%), 24 hours (0.20%), 36 hours (0.30%), 48 hours (0.40%)**

<figure><img src="/files/QGisBUEhyhmB1ikhUmuC" alt=""><figcaption></figcaption></figure>

* Review the requested borrow application information and the total payment amount.&#x20;
* A gas fee(WEMIX) must be paid to process the transaction, and it is subject to real-time fluctuations.&#x20;
* Once Borrow is approved, the borrow amount and the platform fee will be refunded upon receipt of the borrow amount.

<figure><img src="/files/8Xtvzr9xdBZFZqS1P9nT" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/lNQLa91zVvAoNnAl4w6h" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/sS9jRMICD5nYFBRAp17Y" alt=""><figcaption></figcaption></figure>

* Borrow application completed. View your product's bidding status by pressing the 'View List' button.