What Happens If I Don't Repay
Failure of repaying your loan as specified in the borrow terms will cause your NFT to be liquidated. When the loan is close to the due date, you will receive notifications and optional email alerts. If you fail to pay back the money you borrowed at the deadline, your NFT will be entered into a 'Timed Auction' and if the auction is not successful, it will be fractionalized. You will lose your NFT staked, and the ownership of your NFT will be transferred to the lenders based on their proportional share of the liquidated loan.
Last modified 8d ago
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