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Bulk borrowing is a feature to smoothen the BNPL and BidNPL processes and enable bid and purchase of NFT with 0 ETH balance from buyer’s wallet. It is a one click solution which scans the borrower wallet for all pledge-able NFT collaterals and borrows the highest amount borrowable with the best offers on the respective collections in one transaction.
- 1.Alice would like to place a bid for an AZUKI at 5ETH but her wallet has 0 ETH
- 2.Alice borrows 2.5ETH against her other NFTs in the wallet
- 3.Alice places a the 5ETH bid via Pine and transfers 2 .5ETH as margin
- 4.The bid was filled and the acquired AZUKI is managed by PINE as collateral for the 2.5ETH loan
- 5.Alice can repay the 2.5ETH loan and interest to reclaim the acquired AZUKI