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Nord NFT Loan FAQ

Here are some of the most frequently asked questions.

What are the different ERC20 tokens supported for lending loans?

We currently support only USDC for lending and borrowing loans. The support for multiple tokens will shortly be added.

Which NFTs are currently supported?

Currently only ERC721 compatible NFTs are supported and the support for ERC1155 will be added shortly. Users may fill the whitelisting form to get their NFT whitelisted.

Can the borrower repay the loan earlier?

Yes, the borrower may choose to repay the loan at any time, before the tenure ends as well.

What happens if the loan is not repaid on time?

The lender will have the option to seize the underlying NFT collateral while the borrower can choose to repay before the lender decides to seize the NFT.

What are the current platform charges?

Platform charges are fixed at 5% on the interest due.