Borrowing

🌲 Pine Protocol: Opening a Loan using your NFT as collateral

If you have questions, trouble, suggestions etc. at any time, then we’ll be directly available in Discord to help you out: https://discord.gg/pineprotocol

⚠️ Always ensure that you’re on the right domains ⚠ - pine.loans - app.pine.loans

We advise to bookmark the URLs to prevent going into possible phishing websites that are using similar names 📗

💵 Receive ETH using your NFT

👉 Head over to https://pine.loans/ and select “Launch App”

or proceed directly to https://app.pine.loans/borrowing/nfts

👉 Head over to “Borrowing”

👍 Select “Get Started”

👀 You should now be presented with all NFT’s / SFTs in your collection under that specific wallet. Be sure to select the corresponding supported chain!

☝️ Alternatively, you can use our brand-new Add to Cart feature by visiting a specific collection which you own the NFT / SFT of.

Simply head over to that collection in the main Pool overview page (for example WonderPals):

👉 Now select the NFTs tab

✅ Select the NFTs of your preference and proceed with the "Add to cart" button:

👀 You should now notice a number being added to the Cart button at the top-right of the screen:

✅ Once opened the Cart will display all the NFTs you have added to your Cart:

👉 When you're ready to see the Borrowing details, select the Go to summary button:

👀 Here you will be presented with all the NFTs that have been selected in the previous Borrowing page:

👉 By selecting an NFT you can browse through different terms (pools) that better meet your criteria and allow you to set a specific loan amount:

👍 You will now be presented with the Valuation screen for that specific NFT:

✅ By default the most favorable pool is selected for you to borrow against. However always explore multiple pool options to see if one exists that better meets your criteria:

👉 After having selected a pool we can proceed to set the amount you want to borrow by moving the slider or selecting “Set Max”

👍 When you want to proceed ensure you approve the collection first if not done so yet:

🦊 Approve the transaction when prompted

👀 You should see a pop-up that your transaction is processing on the blockchain

⏲️ And simply wait for it to be completed

(you may receive a “Valuation Expired” message if the previous “Approve Collection” transaction took a long time to process. Simply refresh the page and try again)

👉 Do this for every NFT listed and once you're ready to go simply proceed by selecting "Borrow".

🦊 Approve the transaction when prompted

🎉 Congratulations! You should now have received the native's chain currency in your wallet!

👉 You can review your Open Loans at any time by proceeding to “Open Loans” or continue directly to https://app.pine.loans/borrowing/open

👉 You can review and Repay your Open Loan at any time:

👉 You can also choose to extend your loan by selecting “Extend Loan”.

👉 Here you will be presented with several options. Similar to selecting a pool when initially opening a loan, you can also browse multiple pools here and select one with conditions according to your criteria.

👉 Now select the New Borrow Amount and select Extend to execute.

✅ And that’s it! Once you pay off your loan, the NFT will be under your full ownership again.

❓ Be sure to check out our Borrowing FAQs page for more information or if you have any questions regarding our Borrowing feature.