FRAKT Loans is the first decentralized peer-to-pool based NFT liquidity protocol on Solana. Depositors provide SOL liquidity to the lending pool to earn interest, while borrowers are able to borrow SOL through the lending pool using NFTs as collateral instantly
In order to avoid losses caused by the market fluctuations, the borrower will have a 24-hour grace period to repay the loan
Never be stolen
NFTs will be locked in wallet through instant NFT loans. Locked NFTs are untransferable avoiding the risk of theft. On the other side, as locked NFTs remain in the wallet they will still unlock access to Discord, ...
From the SOL lender's point of view
Never goes bankrupt
The borrower's NFT collateral is locked on the platform. After the total debt exceeds the value of the collateral, the collateral is liquidated through raffles auctions, and the auction price cannot be lower than the total debt. So the lender's principal will not be lost