Collateralized NFT can still be available for listing. A borrower can submit an active offer for their NFT collateral with desired price on our platform for listing.
Pine protocol charges 0.3% transaction fee from the seller and can potentially be lower depending on the seller’s VIP tier and charges no transaction fee from the buyer. Gas fee will be paid by the seller when submitting an offer to the blockchain, and the buyer when submitting a purchase transaction. The submitted offers will be listed on multiple platforms. Offer price cannot be lower than the total outstanding amount of the loan.
Once the collateral is sold, the debt would be automatically repaid and any excess amount would be sent to the seller’s wallet. Whenever the outstanding amount exceeds the offer price, the offer will be voided and no purchase can go through.
Together with the financing features for purchasing NFTs, this feature would enable margin trading on NFTs, providing leverage for short-term traders.