๐ฃ๏ธWhat Is P2P Collateralized Loans and FAQ
Dolly P2P Collateralized loan is built as a marketplace where borrowers and lenders interact directly with dynamic interest fee offers and dynamic terms. P2P Collateralized Loans provides a wide range of options for supported crypto assets, interest rates, collateral assets, maximum loanable limits and internal risk management.
Frequently Asked Questions
Who can borrow or lend on P2P Collateralized Loans? Everyone who owns crypto assets supported by the platform.
What crypto can I borrow on P2P Collateralized Loans? Currently only providing BUSD but there is a possibility that we will add more crypto assets.
What crypto can I use as collateral? Currently only providing DOLLY but there is a possibility that we will add more crypto assets.
How long are the Loan Terms? Dynamic loan terms, ranging from 7 days to 180 days are available. You can always pay in advance and interest is calculated based on the hours borrowed.
How is the interest calculated? Interest is calculated hourly, and less than one hour is calculated as one hour. The interest rate is determined by the time you take the loan.
How do I repay the loan? You have to repay them manually on the borrow detail page.
Can I make a repayment before the due date? Yes. There is no interest penalty for early repayment. When the principal is returned, the interest will be charged according to the actual borrowing hours.
What is LIQUIDATION PRICE? LIQUIDATION PRICE is the value of your loan to the value of your collateral. The price used here is Index Price. Different collateral coins have different initial LTVs, which means when you use different coins as collateral of the same value, the loan you make is of a different value too.
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