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Flip Loans
Borrowers can borrow SOL from the aggregated lending pool for a relatively short amount of time and pay a fixed fee with linear daily fee accrual
TL;DR available on Twitter : Flip Loans V3 introducting linear daily fees (Flip Loans V2) (Flip Loans V1)

Borrowers can get an instant loan of 20%-50% floor price of their NFT in SOL for 7 to 14 days. Borrowers have to repay the loan back + accrued daily fees within the next 7-14 days. When the borrower initiates the loan, the protocol counts the first day. Fee bump will then occur every 24H from loan inception. TL;DR Flip for a short time, Repay, Get away with a super-low fee.
The interest rate offered to the borrowers at the time of the loan is dependent on the utilisation rate of the aggregated lending pool at that time. The simplified interest model for Flip loans is available here.

We encourage borrowers to connect their discord account on our app in order to receive important notifications regarding the status of their loans :
  • Loan creation notifications
  • Loan expiry (24H in advance) notifications
  • Grace period notifications
  • Executed liquidations notifications

Every Gnomie and every 10 Frakt points unlock 1% discount on lending fees for Flip loans so that 100 Gnomies = 1,000 Frakt points = free loans
Note that free/discounted loans will be capped in value. The higher the amount of $FRKX (upcoming IDO token) you stake the higher your cap on free/discounted Flip loans. The other utilities for the token are listed here​

If the borrower doesn't repay his Flip loan before the end of the 7-14 days period, his collateral NFT will enter the 24H Grace period during which he can still repay the loan back + the interest + a 10% penalty. If he doesn't repay his debt during the 24h Grace period his collateral NFT will be transferred from his wallet to be liquidated in a raffle​
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On this page
How do Flip loans work?
Notifications
Discounts for holders
Liquidations for Flip loans