Process

At first, the NFT Holder (Borrower) put a NFT as collateral into corresponding pool. In terms of the value of the NFT, the maximum borrowable amount will be calculated immediately. The NFT holder is able to set any intended amount lower than the maximum borrowable amount. The borrower should also define the loan period, and only those ETH with a longer deposit period will be matched. As long as there is enough ETH available, Singular will match and pick out those with lowest interest rates. Once the NFT holder approves, the NFT is pledged and the ETH will be transferred to borrowers' wallet.