2. How to repay
There is no loan due date on BendDAO. You can repay any amount to keep your loan Health Factor above 1 to avoid getting liquidated by auction. You still have 24 hours (24h liquidation protection) to redeem your collateralized NFT during the auction.
2.2. Select the NFT to be repaid
2.1. Go to the My NFTs page
Go to Home > Dashboard > My NFTs page.
View collateralized NFTs
Total borrowed: The sum of each borrowed amount
Total repaid: The sum of each repayment amount
Total interest: The sum of the interest paid on each loan + the current interest to be paid
Total debt: The sum of current debt, borrowed + interest.
2.2. Select the NFT to be repaid
Click the “Repay” on the NFT to be repaid to start repayment. “Repay loans” is batch repayment.
Available to borrow: The amount of ETH that can continue to be borrowed. If the floor price rises, users will be able to borrow more ETH.
2.3. Approve ETH
2.4. Repay
Borrowers can repay any amount which will raise the Loan Health Factor.
Repay a part of your loan: Increase health factor to reduce liquidation risk
Full repayment: You will redeem your NFT.
Your debt: Current outstanding loan
Remaining debt: If you choose to repay a part of the loan, the debt balance after repayment
Collateral ratio: Current NFT's collateral ratio
Liquidation price: The current liquidation price of NFT
The new health factor: If you choose partial repayment, the health value will be adjusted according to the repayment amount.
Click the “Repay” and you can complete the repayment.
By the Community Contributor @defiandnft
Last updated
