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How to Borrow on Flowty (Step by Step)
- 3.Connect any non-Dapper Wallet (Dapper Wallets only support buy/sell transactions) to Flowty
- 4.Save your email address — users are required to save an email address to their profile for notification purposes
Video walkthrough of the flowty loan process
- 1.Connect a Non-Dapper Wallet (Dapper Wallets only support buy/sell transactions)
- 2.Go to Profile (Dropdown Menu -> Profile)
- 3.Click the NFT that you want to borrow against
- 4.Navigate to "Loan" tab
- 5.Input desired loan terms. Please see our post on How to Value and Price Loan Listings on Flowty for some data and commentary that may be helpful in thinking through terms. Importantly, the inputs are fully dictated by the user. We will not be reviewing listings, and our team will not provide advice on specific listings. Please ensure that you fully understand the loan process before listing a loan.
- 6.Decide whether to opt in for Auto Repayment. If a Borrower opts in for Auto Repayment AND has a sufficient balance (of the same token as the loan) at loan expiration, our smart contract will repay the loan on the Borrower’s behalf.
- 7.Submit your listing to the Marketplace
- 8.Approve transaction
- 9.After submission, please review your loan listing in the Marketplace to ensure the listing is correct. There is a five-minute grace period after you have added a new listing to the Marketplace during which you can delist but Lenders cannot yet fund the loan listing. This is to ensure that users have adequate time to review and remedy any erroneous inputs or listings. As a reminder, the loan amount displayed in the Marketplace will be higher than the amount you will receive.