Borrow

Through the Borrow feature, you can initiate Borrow using your NFT as collateral. Select the NFT you want to use as collateral from your wallet and input the desired borrow amount and borrow fee rate to request Borrow. (*NFTs not supported by NFTFi won't be visible as your owned NFTs when selecting collateral NFTs.)

Once you enter the desired borrow amount and register the auction, it will be made public to potential lenders who wish to bid. Lenders participate in the auction and propose better conditions over time. At the end of the auction, the bidder who offers the highest amount will be chosen, allowing you to secure a larger borrow amount with a lower borrow fee rate. This leverage can provide the opportunity for a larger borrow amount at a lower borrow fee rate.