Step-by-Step Guide

Initiating a Loan from current liquidity providers

Borrowers provide their NFTs as security and get loan offers from our lenders. Initially the pool of available will be Bitcoin native, Stacks & Ethereum before we expand to Omnichain aggregation. Thus, as a borrower, you need to list your NFTs so potential lenders can see your assets and decide if they want to offer you a loan. You are under no obligation to accept any loan offers you receive.

Connect your wallet

To use BPEG'd, you need to connect your Ethereum i.e. (Metamask), Stacks (i.e. Hiro, Xverse, or Boom) wallet to the platform. **All private-keys and related content are not viewable or accessible at any stage. The initial connection also does not list your NFTs as collateral. You're in complete control at each step of the way.

Commit your chosen NFT's to one of BPEG's Smart Lockers

There is no limit or minimum required amount to initiate a loan agreement for your NFT holdings provided they are included in our supported collections.

To initiate the first phase of the process Click the “Borrow” tab to find the asset you want to list as collateral. Next, you have the opportunity to specify a preferred loan amount dynamically capped by the FPV (Floor-Price-Valuation) of your committed NFT's in (USDb, xBTC, or STX), interest rate (APR), and duration (days) as guidance for lenders. Click “List as collateral,” and you have now made your NFT liquid.

Review by pool of available lenders

Once an NFT(s) has been listed, lenders can choose to provide funding against one or several open NFT's in our smart lockers. As a lender, your loan offers are binding, which means you cannot change your mind once the borrower has accepted a loan offer. Once a loan offer is accepted, the loan is automatically executed on-chain, in a trust-less manner without any oversight or autonomous control of BPEG'd.

Via our dashboard you can filter by specific collections or by keywords enabling you to narrow down the pool of borrowers to fit your criteria. If desired, you may also make collective offers and target entire collections to provide a loan too.

Submission of a loan offer to perspective Borrowers

Once you have found an NFT or collection on which you want to make a loan offer, you can review a list of existing loan offers to gauge the applicable rate and desirability of your chosen collateral.

You then use the BPEG smart sliders, add your preferred loan amount (USDb, xBTC, or STX), interest rate (APR), and duration (days), and submit your offer. You can modify or cancel an offer at any time before the borrower accepts it. If your loan offer is not accepted, it will expire automatically after the period you set.

Repaying a loan is as secure as starting one. A single transaction transfers the funds from the borrower to the lender and returns the NFT from the escrow smart contract back to the borrower.

Repay the loan amount with interest

Repaying a loan is as secure, immutable and seamless as starting one. A single transaction transfers the funds from the borrower to the lender via our Smart Lockers dependant on asset balances and returns the NFT from the escrow smart contract back to the borrower.

Once a loan has started, both borrowers and lenders can view the days until a loan expires and the repayment amount at any time. You will always have the full loan term to return the repayment amount (principal loan + plus interest). Once a borrower initiates the repayment, the principal plus interest is transferred out of the borrower’s and into the lender’s wallet. After which the lender’s promissory note is burned, and the NFT collateral is transferred from the escrow smart contract back to the borrower.